Category Archives: charitable tax deduction

How not to acknowledge a gift

The U.S. Tax Court has given nonprofits one more reason to be scrupulously thorough in acknowledging gifts. The court Thursday ruled that a taxpayer cannot receive an income-tax deduction if the nonprofit receiving the gift does not fully substantiate the … Continue reading

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Oregon congressman touts charitable rollover

Oregon Congressman Earl Blumenauer is co-sponsoring a bill that would expand and make permanent the IRA charitable rollover that helps donors make charitable gifts from their retirement assets. Conrad Teitell, volunteer counsel for the American Council on Gift Annuities, wrote … Continue reading

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The Chronicle: The ever-vigilant tax man

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Make IRA charitable rollover permanent: It’s a win-win-win

Nonprofits may be interested to know that Congress is being urged to make permanent the expired charitable IRA rollover provision and expand it to include rollovers to life-income plans, such as charitable gift annuities and charitable remainder trusts. Conrad Teitell … Continue reading

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Keep donors active and foil attrition

Once you have sent letters thanking donors for year-end gifts, Fundraising Success magazine suggests you keep donors engaged in the new year. “Many of them (people you have never heard of before) won’t be around in 2012,” the magazine says. “Attrition … Continue reading

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Helping donors substantiate gifts, receive tax deductions

Donors must substantiate their charitable gifts to receive income-tax deductions, so a donor-centered nonprofit will accommodate donors’ needs whenever possible. “The donor is responsible for requesting and obtaining the written acknowledgment from the donee,” the IRS says. Sanctions are possible … Continue reading

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Charitable giving incentives decline at month’s end

As December’s calendar pages are torn off each day, two opportunities to encourage charitable giving are slipping away. One, the IRA charitable rollover, is likely to be extended by Congress, but it is due to expire Dec. 31, 2011. After … Continue reading

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