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The donor's allowable deduction will be reduced, however, by the amount of the "substantial benefit" conferred upon them as a result of their contribution. [ 1 ] To illustrate, suppose that the American Cancer Society is hosting a formal dance as a fund-raiser (the ACS is a certified charitable organization).
26 U.S.C. § 170 provides a deduction for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations of $250 or more).
A note on the separate status of the Wikimedia Endowment. The Wikimedia Endowment, held from 2016 to 2023 by the Tides Foundation and now a standalone 501(c)(3) nonprofit, is not and has never been included in Wikimedia Foundation assets, even though Wikimedia Foundation fundraising staff solicit donations to the Endowment and the Wikimedia Foundation itself made donations to the Endowment.
Donating to the Patch Holiday Food Drive or to other charities in the Maple Grove area is tax-deductible for 2021 if you give by Dec. 31.
Non-cash donations valued at more than $500 require special substantiation on a separate form. Non-cash donations are deductible at the lesser of the donor's cost or the current fair market value, unless the non-cash donation has been held for longer than a year, in which case it can only be deducted at fair market value.
Donating to the Patch Holiday Food Drive or to other charities in Fremont is tax-deductible for 2021 if you give by Dec. 31.
Donating to the Patch Holiday Food Drive or to other charities in Oceanside is tax-deductible for 2021 if you give by Dec. 31.
While candidates can accept a maximum donation of $3,300, under the joint fundraising agreement, a single donor could sign a check for just over $800,000, while a couple could contribute $1.6 million.