A 1099-K simply reports the gross payments you received. It doesn't mean all of that money is taxable income. The gross amount on your 1099-K doesn't account for expenses, fees, refunds, or gifts to charity. You can deduct these when calculating your taxable income.
While all circumstances for your event can be different from others, we have found that it is rare for an event (especially a fundraising event) to result in any tax burden on the person or entity hosting the event. Your tax preparer can assist in offsetting the events expenses against any reported income.*
*This page is for information purposes only. PGE cannot provide tax advice. If you have any questions about tax reporting, please consult a tax adviser in your area.