PIE fundraising letter: what it is and what to check first

The fundraising letter (carta de captação) is the document that FESPORTE, Santa Catarina’s state sports foundation, issues for each project approved under PIE/SC (Santa Catarina’s Sports Incentive Program), authorizing the organization to seek support from companies. Without it, no project is eligible to receive incentivized ICMS (the state tax on goods and services), however good the work may be. According to the program’s FAQ, only approved projects receive the letter. This is how companies in Brazil check a project before supporting it; readers abroad do not pay tax in Brazil, but the steps show how the funding works. This article explains what the letter proves, what to ask for and what to check before your company authorizes any support.

The road to the letter

PIE/SC selects projects through calls for proposals on the Prosas platform. According to FESPORTE’s FAQ, the path is as follows:

1. The organization, a legal entity based and operating in Santa Catarina, must hold a CRED, the Sports Entity Registration Certificate (Certificado de Registro de Entidade Desportiva) issued by the State Sports Council, and have at least three years of legal existence. Individuals cannot submit proposals.
2. It submits the proposal to one of the five calls: educational sport and training, high performance, events, para-sport or participation.
3. A selection committee evaluates the proposals and ranks them by score.
4. Approved projects receive the fundraising letter and can start looking for supporters.
5. Execution and financial reporting take place on Prosas itself.

In February 2026, FESPORTE reported that the program had 97 projects underway in 150 municipalities, with R$ 75 million available. Each of those 97 went through the path above.

What the letter proves and what it does not

The letter proves that the project was approved and may raise funds. It does not prove that:

• your company is entitled to the credit (that depends on SAT authorization and on its tax standing);
• the project has already raised the approved amount (ask how much is left);
• the fundraising period is still open (check the date).

That is why the letter is the first document to ask for, not the only one.

What to check on the letter

Ask for the complete letter and check it item by item:

• Name and CNPJ (Brazilian company taxpayer ID) of the proposing organization. They must match the project’s dedicated account.
• Project name and number and the call under which it was approved.
• Approved amount. This is the project’s fundraising ceiling. The PIE decree does not allow credit above the amount transferred, and the organization should not raise more than was approved.
• Fundraising deadline. A transfer outside the deadline does not generate credit.
• Dedicated account details. The support goes to the project’s account, never to the organization’s general account.

If any item is missing, ask for the complete version or check with FESPORTE before going ahead.

An example with round numbers

A project approved for R$ 100,000 that has already raised R$ 40,000 has R$ 60,000 still open. A company in the 15% PIE bracket, with ICMS due of R$ 50,000 a month, can support up to R$ 7,500 a month and would close those R$ 60,000 in eight months, provided the fundraising deadline allows it. The bracket calculation is in PIE/SC limit by ICMS bracket.

Fundraising letter and SAT: two documents, two agencies

The most common confusion is thinking the letter is enough. It is not. Decree No. 880/2025, in § 1 of art. 470 of Annex 6 of the RICMS/SC (Santa Catarina’s ICMS regulation), makes the crédito presumido (presumed tax credit) conditional on prior authorization in SAT, the state tax authority’s online system, of the support and the amount. The letter comes from FESPORTE and is about the project. The authorization comes from the state tax authority and is about the company. Both must exist, in this order: letter, authorization, transfer. See SAT authorization for PIE.

Common mistakes

• Accepting the organization’s official letter or presentation as if it were the fundraising letter.
• Not checking the fundraising deadline.
• Transferring to the wrong account.
• Supporting a project whose fundraising has already reached the approved amount.
• Not keeping the letter together with the authorization and the bank receipt.

What about Muaythai nas Escolas?

According to the 2025 media kit of FECAMTT, the Santa Catarina Traditional Muaythai Federation, chaired by Mestre Paulo Ribeiro, the Muaythai nas Escolas (“Muaythai in Schools”) project was approved under PIE/SC, in the educational sport and sports training line, for a total of R$ 100,000.00. The fundraising letter and the project number have not been published here. Before authorizing any support, ask the federation for both documents and check the items on the list above.

It is worth the effort. For more than twenty years, the Mestre has run the Projeto Campeões do Futuro (“Future Champions”), free Taekwondo and self-defense for children after school hours in Balneário Camboriú, with branches at schools such as EEB João Goulart and in the São Judas neighborhood. FECAMTT, founded in 2011 and recognized as a state public-interest organization by State Law No. 19,281/2025, is the organization that brings this work to PIE. See the Muaythai nas Escolas page and the complete PIE/SC guide.

What to do today

1. Ask the organization for the complete fundraising letter.
2. Check the CNPJ, project number, amount, deadline and dedicated account.
3. Ask how much has already been raised.
4. Give the letter to your accountant for SAT authorization.

This is how companies in Santa Catarina do it. If you live abroad, you do not pay tax in Brazil, but you can still support the project: want to know more, or need the Muaythai nas Escolas letter? Talk to the Mestre.

This content is for information only and does not replace advice from your accountant. Rules may change: always check the wording currently in force.