Consumer Blog
Which charities are tax deductible?
It's important to note that when you're giving money to a charity or non-profit group, you can't necessarily deduct that contribution from your income taxes. The biggest category of tax deductible charities are ones designated 501(c)(3) by the IRS. There are some deductible charities that don't fall into that category, and your tax professional can help you make that determination.
You can use the Better Business Bureau's site, give.org, to look up a charity and determine if it's 501(c)(3). Enter the charity's name in the search box, hit Search, then scroll down to the section that says Tax Status.
You can also look at a charity's finances using our Check a Charity site - this tells you how much of your donation goes to the actual programs versus administrative costs like salaries, fundraising, office costs, etc.
Finally, be sure to check out our best advice on how to give wisely to a charity.
Technorati Tags: 501c3, IRS, charitable, charities, contribution, donation, finance, shopping and spending, solicitation, charity, moagoconsumer, consumer protection
Posted by on August 6, 2008 4:29 pm :: Comments (2) :: Permalink
2 Responses to "Which charities are tax deductible?"
says:
October 16, 2008 9:09 am
Can a not-for-profit corporation allow a sub-group (affiliated committee) to raise funds using the corporation's 501c3 status but use the funds for purposes solely decided by the sub-group's officers?
says:
October 24, 2008 1:53 pm
To Pauline:
This is legal advice, so the not-for-profit corp would need to consult its lawyer on this.
