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Topic: Charitable contributions

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	Charitable Contributions
		Contributions of property require caution: The property must have been received by the entity as gross income in order to qualify as a charitable contribution.
		Because the end result of the methodology is to determine the amount of the distribution deduction and, consequently, the charitable contribution deduction allowable for tax purposes, it follows that the components of DNI that are not taxable must be deleted from the amount arrived at through IRC section 643(a).
		The election available to a fiduciary to treat contributions made in the succeeding year as having been made in the current year affords planning opportunities especially in the year of termination, when gross income may be insufficient to cover final charitable contributions.
	www.nysscpa.org /cpajournal/2004/804/essentials/p38.htm (4549 words)

	Employees - State Charitable Contributions Program (Site not responding. Last check: 2007-11-05)
		Contributions designated to member agencies of a federated charitable organization will be directed to the federation for distribution to their member agencies.
		Your contribution to the State Charitable Contributions Program, along with the contributions of other state and university system employees, will help thousands of Georgians in every part of the state, as well as individuals in other countries receiving services from the international federation participating in the program for the first time this year.
		Contributions made through the program impact a wise range of problems, including services to the elderly, youth development activities, help for the sick, counseling for the troubled, job training for the homeless and programs to preserve and restore the environment.
	www.gms.state.ga.us /employee/sccp2000.asp (1048 words)

	Tips on Tax Deductions for Charitable Contributions (Site not responding. Last check: 2007-11-05)
		Contributions to 501(c)(4) organizations generally are not deductible as charitable donations, but they may be deductible as a business expense.
		Contributions for which the donor receives a gift or other kinds of benefits are deductible only to the extent that the donation exceeds the value of any benefit received by the donor.
		Contributions made directly to foreign organizations are not deductible, except in the case of some Canadian organizations as specified in an agreement with that country.
	www.lectlaw.com /files/tax13.htm (1864 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		First of all, a charitable contribution of a work of art is subject to reduction if the charity's use of the work of art is unrelated to the purpose or function that is the basis for its qualification as a tax-exempt organization.
		Such an organization specifically targets its support for a charitable organization located in a foreign country, and is often called a "friends of" organization, the term often included as part of its legal name to reveal the close affinity.
		No charitable deduction is allowed for a contribution of $250 or more unless you substantiate the contribution by a written acknowledgment from the charitable organization.
	www.denburg.com /charitab.htm (2770 words)

	Charitable Contributions to Charitable Organizations, IRS and Tax
		When making charitable contributions to qualified organizations, a tax deduction is generally available for those charitable contributions for taxpayers who itemize tax deductions on their tax return, provided, in most cases, the total tax deduction on the taxpayer's tax return does not exceed ½ of the taxpayer's Adjusted Gross Income.
		Most nonprofit educational charitable organizations, including the Girl (and Boy) Scouts of America, colleges, museums, and day-care centers if substantially all the child care provided is to enable individuals (the parents) to be gainfully employed and the services are available to the general public.
		Charitable contributions you cannot deduct on your tax return at all include charitable contributions made to specific individuals, political organizations and candidates, the value of your time or services and the cost of raffles, bingo, or other games of chance.
	www.wwwebtax.com /deductions_charitable/charitable_contributions.htm (1104 words)

	FAQs: Making Charitable Contributions
		Contributions are deductible for the year in which they are actually paid or delivered.
		This is the same as the charitable remainder annuity trust, except the trust pays the actual income or a set percentage of the current value (rather than a set amount) of the trust’s assets each year to the non-charitable beneficiaries.
		Since contributions are deductible only for the year in which they are actually paid or delivered, pledges are not deductible until they are paid.
	www.gofso.com /Premium/LE/15_le_cg/faq/le_15_faqs_main.htm (4030 words)

	Financial Guide: CHARITABLE CONTRIBUTIONS: How To Give Wisely
		All contributions should be in the form of a check or money order made out to the charity—never to the individual soliciting the donation.
		Contributions to tax-exempt organizations are not always tax-deductible.
		Some advertisements falsely imply the existence of a direct connection between the consumers' purchase and the charity when, in fact, the charity was guaranteed a "flat" contribution regardless of the level of the resulting purchases.
	www.gofso.com /Premium/LE/15_le_cg/fg/fg-Charity_Giving.html (3595 words)

	Fool.com: Charitable Contributions of Stock [Tax Q&A] December 10, 2004 (Site not responding. Last check: 2007-11-05)
		If you use the "standard" deduction, a charitable contribution of appreciated stock might not provide you with all of the tax benefits you expect.
		Obviously, the desire to make a charitable contribution shouldn't be exclusively tax-benefit driven, but it's always nice to receive the most tax-favorable treatment available.
		Contributing a stock that you really love can be a not-so-great idea, as you'll miss out on any future appreciation.
	www.fool.com /taxes/2004/taxes041210.htm?ref=foolwatch (1409 words)

	Charitable Contributions
		All contributions of $250 or more must be substantiated by written acknowledgment from the organization receiving the contribution.
		If your contributions are more than 20% of your adjusted gross income, the amount of your contribution may be limited to either 20%, 30%, or 50% of your adjusted gross income, depending on the type of property you give and the type of organization you give the property to.
		If your contributions are more than the applicable limits, you can carry over your contributions that you are not able to deduct in the current year, to a future year.
	www.kidsource.com /kidsource/content/taxes.html (664 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		A charitable contribution is a donation or gift to, or for the use of, a qualified organization.
		Deductible charitable contributions include money or property given to qualified organizations, your out-of-pocket expenses when you serve a qualified organization as a volunteer, and expenses you pay for a student living with you who is sponsored by a qualified organization.
		If the charitable organization sells the donated vehicle without having made material modifications to it or without having significantly used the vehicle for charitable purposes, generally your charitable deduction cannot be greater than the amount the organization received from the sale of the vehicle.
	www.jacksonhewitt.com /resources_library_topics_charitable.asp (1717 words)

	Charitable Contributions Program
		As we identify the specific charitable projects and grants to be funded this year, we shall build on our traditional contributions programs and look for opportunities that allow us to draw on both our financial resources and on our expertise and skills as a major energy company.
		As always, the company’s charitable contributions program will be funded entirely by shareholders, and will have no impact on electricity or gas prices.
		To be eligible for a contribution, a grantee must hold current tax-exempt status under Section 501(c)(3) of the Internal Revenue Code or be a unit of government (including a public school).
	www.pge.com /about_us/community/charitable (1170 words)

	onPhilanthropy - Legal Questions on Charitable Contributions
		Secondly, there are additional disclosure requirements for contributions to charitable organizations for which the donor receives something of value in return, such as meals, discounted admissions, or goods.
		For contributions exceeding $75, organizations must inform donors in writing that only the excess of the donation over the value of goods or services is deductible as a charitable contribution.
		Such contributions are not tax deductible as charitable contributions unless they are made to a 501(c)(3) organization that has agreed to sponsor Johnnyâs cause.
	www.onphilanthropy.com /bestpract/bp2004-06-11.html (1893 words)

	The Cost of Giving: How Do Changes in Tax Deductions Affect Charitable Contributions?
		For example, a taxpayer in the 28 percent tax bracket who gives $100 to a favorite charity cuts his or her tax bill by $28 with a charitable tax deduction, in effect reducing the cost of the donation to $72.
		If it is, then taxpayers who claim tax deductions for charitable contributions are likely to increase their giving by more than the estimated revenue cost of the subsidy.
		Even if the charitable deduction encouraged less additional giving than it cost in forgone tax revenue, it seems quite unlikely that a system of direct government grants would mirror the pattern of extra giving elicited by the deduction.
	www.urban.org /url.cfm?ID=310256 (2109 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		When you write off a contribution for donations other than cash or check, such as clothing, furniture and such, you must be able to document the items, the original purchase date, the original cost and the "street value" you are placing on the goods at the time of donation.
		Your contribution to this type of organization is deductible only if it is to be used solely for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals
		Your deduction for charitable contributions is generally limited to 50% of your adjusted gross income, but in some cases 20% and 30% limits may apply.
	www.taxassoc.com /charity2.htm (1335 words)

	iWon - Tax Center (Site not responding. Last check: 2007-11-05)
		Contributions to a "tax exempt" organization, a non-profit organization that generally does not have to pay taxes, are not necessarily deductible.
		If you contribute to a charity and also receive something, such as dinner or a tote bag, then your deduction is the amount you paid minus the value of the goods or services received.
		Additional information on charitable contributions can be found in IRS Publications 78, 526 and 561.
	tax.iwon.com /index/id/TT_4.html (499 words)

	Search for Charities
		You may generally take charitable contribution deductions up to 50% of your adjusted gross income, but 20% and 30% limitations apply in some cases.
		However, the listing for the central organization indicates that contributions to subordinate units covered by the group exemption are also deductible.
		This publication lists the names of organizations eligible to receive tax deductible contributions, as well as the percentage of the contribution that is deductible.
	www.irs.gov /charities/article/0,,id=96136,00.html (617 words)

	2004 Charitable Contributions by Source of Contributions (Site not responding. Last check: 2007-11-05)
		Blacks seen as rich source for charitable contributions, Indiana studay says.
		Illinois Election Authorities Asked to Investigate at Least $830,000 in Campaign Contributions in 2004 Illinois Supreme Court Contest.
		Charitable Giving Rises 5 Percent to Nearly $250 Billion in 2004.
	www.infoplease.com /ipa/A0908778.html (181 words)

	Give.org
		Contributions to all 501(c)(3) organizations, except those that "test for public safety," are deductible as charitable donations for federal income tax purposes.
		Nonprofit cemetery companies [501(c)(13)], if the contribution is given for care of the cemetery as a whole rather than for a particular plot.
		Domestic fraternal societies and associations [501(c)(10)] and fraternal beneficiary societies and associations [501(c)(8)], if the contributions are used for charitable [that is, 501(c)(3)] purposes.
	www.give.org /tips/tax.asp (1776 words)

	Tips on Tax Deductions for Charitable Contributions (Site not responding. Last check: 2007-11-05)
		Your contribution to any of these 501(c)(3) organizations would be tax deductible--except for those that test for public safety.
		If you give a donation of more than $75 and receive goods or services in exchange for a donation, the charitable organization is required to provide you with a written statement of your donation and the value of the goods or services you received.
		If your contribution was at least $38, and the gift item bears the organization's name or logo and cost the organization no more than $7.60, it is considered an "insubstantial gift" by the IRS and you do not have to subtract its value from what you claim as your contribution to the organization.
	www.heartmath.org /joinorgive/tax-deductions-tips.html (1216 words)

	The Virtues of Using ESOPs with Charitable Contributions
		While this is often the case, the contribution of stock to a charity, either directly or through a charitable remainder unitrust (CRUT), can be an attractive alternative or adjunct, especially for sellers who have charitable intentions.
		CRUTs can also be a cost-effective means to change some investments in portfolios for people who have reinvested the proceeds of the sale of their stock to an ESOP under the tax-deferral provisions of section 1042 of the Internal Revenue Code.
		The simplest approach is to contribute stock to a charitable organization (which includes all the obvious examples as well as universities and 501(c)(3) nonprofits).
	www.nceo.org /library/charity.html (819 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		Reports of a decrease to many charitable organizations, plus the probability of budget cuts for social services, make our cash and non-cash donations take on increased importance to the survival of many of these organizations.
		Besides making you feel good, charitable contributions are still a usable tax deduction if you can itemize.
		On the other hand, if you sold the property first and donated the proceeds to charity, you would pay tax on the gain from the sale, and the amount of your contribution would be reduced to your cost instead of FMV, reducing your tax deduction.
	www.schroer-cpa.com /charitablecontributions.html (394 words)

	Charitable Contributions
		You cannot deduct contributions made to specific individuals, political organizations and candidates, the value of your time or services and the cost of raffles, bingo, or other games of chance.
		For a charitable contribution of $250 or more, you can claim a deduction only if you obtain a written acknowledgment from the qualified organization.
		If you have questions about the deductibility of charitable contributions you can search online for organizations that are qualified to receive deductible contributions, or call the IRS at 1-800-829-1040.
	www.irs.gov /newsroom/article/0,,id=106990,00.html (702 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		Value of your time and labor is not deductible as a charitable contribution.
		Can I deduct that on my Schedule C? In short, no. As an individual "sole proprietor", any charitable contributions made through your business are considered by the IRS as having been made by you, personally.
		You can only deduct charitable contributions and volunteer expenses on form, Schedule A: Itemized Deductions, and you would, generally, only itemize your deductions if they were more than the standard deduction ($4500 or so for being single, $7600 or so for being married filing jointly, $6600 or so if you're Head of Household).
	www.21grand.org /charitable.html (451 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		Final Error Check states Charitable Contributions Worksheet is not finalized and return cannot be filed.
		Misleading NC charitable contributions screen may lead to reporting double the amount of charitable contribution on Line 20A of Form D-400TC.
		California does not permit deduction of charitable contributions made in January 2005 for the 2004 Tsunami disaster.
	www.taxcut.com /customer_support/entries_and_forms/deductions_and_credits/charitable_contributions.html (248 words)

	Charitable Contributions (Site not responding. Last check: 2007-11-05)
		We support thousands of charitable organizations, and when disaster strikes, as it did on Sept. 11, 2001, our willingness to help others in need shines through.
		Donations to some non-profit cemetery corporations are deductible, as are gifts to the U.S. government, a state or Indian tribal council government, as long as you make the donation for a public use, such as a park or a hospital.
		If you buy a ticket to a fund-raising dinner and the cost of the meal is $10 but the ticket is $50, you can deduct the difference between the actual cost of the food (your benefit) and the ticket price, or $40.
	realtytimes.com /FinancialWire/pages/1.07_4charity.htm?opendocument&... (672 words)

	Corporate Charitable Contributions Threatened
		Corporate charitable giving programs could be scaled back or abandoned as a result of proposals in two Congressional bills currently under review by the Securities and Exchange Commission (SEC).
		HR 944 would amend the Securities and Exchange Act of 1934 to require public corporations to disclose to shareholders prior to an annual meeting or other shareholder meetings a list of the recipients of charitable contributions and the amounts given to each organization for the preceding fiscal year.
		The bill allows the SEC to exempt from the requirements gifts of personal property (e.g., items produced by the company), gifts to public or private nonprofit educational institutions (i.e., schools), and gifts to local charities consistent with the public interest, the protection of investors, and the purposes of the bill.
	www.ombwatch.org /npadv/1997/corpcont.html (792 words)

	The Land Institute - Annual Report — June 2004
		A nonprofit organization, we are funded by tax-deductible charitable contributions mostly from individuals and foundations.
		We are interested in quackgrass because it is a prolific producer of underground stems (rhizomes)—structures that would contribute greatly to survival in a perennial wheat.
		Contributions of leaf rust resistance and awns to agronomic and grain quality performance in winter wheat.
	www.landinstitute.org /vnews/display.v/ART/2004/08/20/412b72dcdd4f7 (4844 words)

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