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“An organization has to have received the 501(c)(3) designation from the IRS for it to qualify as a ‘charitable organization’ in terms of deduction donations for tax purposes,” said ...
In 1947, Sidney Farber founded the Dana-Farber Cancer Institute in Boston.The following year he launched the Jimmy Fund to raise money to support the hospital. [9] [10] The fund was named after a patient who was named "Jimmy" to protect his identity – his real name was Einar Gustafson and his identity was revealed in 1998.
The foundation's annual IRS Form 990 filing would normally contain the full list of grants made by the foundation. [1] [2] [3] The following lists are incomplete. The following were reported to the Foundation Center during the year 2006: [4] United Way of New York City – $250,000; Operation Smile – $117,000; Dana Farber Cancer Institute ...
The particular tax consequences of a donor's charitable contribution depends on the type of contribution that he makes. A taxpayer may contribute services, cash, or property to a charity. There are a number of traps, especially that donations of short-term capital gains are generally not tax deductible.
The Dana–Farber Cancer Institute paid the Trump Organization substantial fees to hold annual events at Mar-A-Lago. The Trump Foundation in turn granted to the Institute a total of $85,000 for 2006 and 2007, among other grants in subsequent years. [114] [117] [118] [119]
To help out, you can make a monetary donation to help cover costs. United Way: The types of school supplies United Way accepts depends on students’ needs in individual communities.
However, only charitable organizations can receive tax-deductible contributions and avoid paying property and sales tax. For instance, a donor would receive a tax deduction for money given to a local soup kitchen if the organization was classified as a 501(c)(3) organization, but not for giving money to the Green Bay Packers, even though the ...
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