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Charitable donations

    • 2564 posts
    1
    March 2, 2017 7:14:37 PM PST

    Charity begins at home.

    Provisions of the IRS code allow pre tax donations to charitable organizatons.

    501(c)(3) for instance.

    Donations over $250 per year require some sort of letter with the EIN of the Charity to qualify for tax deduction on itemized returns.

    EIN is Employer Tax Identification.

    Many of the charities spend more on soliciting than they spend on the charity.

    There is a web site to find out what fraction of a charity's money goes to administration and how much to the charity. Ask your accoutntant.

    I have noticed that the "Charities" that mail from ZIP code 20009 have high edministative expenses. Those "charities" also sell their contact lists to other "charities".

    I wish I knew how to get off the mailing lists for some of those "charities".

    • 2564 posts
    2
    March 3, 2017 9:31:20 AM PST
    https://www.nytimes.com/2017/03/02/us/harvard-charles-spackman-donation-lawsuit.html?emc=edit_th_20170303&nl=todaysheadlines&nlid=66809837
    An article about a law suit to force Harvard to disclose information from one of the donors. The claim is that the donor used a charitable deduction to shelter money from a third party. The third party wants his money, but the tax laws are being used, allegedly, to shelter the money.