Questions tagged [charity]

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7 votes
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Can a community charitable organization collect donations on behalf of a specific person?

A member of my community passed away and I want to arrange a small crowdfunding page for his widow to help her with immediate expenses until the life insurance and paperwork gets done. To encourage ...
lgshost's user avatar
  • 73
0 votes
2 answers
289 views

How can I be sure that my charities do NOT give aid in the form of money to terrorist organizations or any group that harbors weapons in any form?

I would never have thought of asking this question. The thought never even crossed my mind until I saw an article about this topic. I donate to charities myself and just want to make sure the ...
Sedumjoy's user avatar
  • 111
3 votes
3 answers
513 views

How do I value items for charitable deductions?

A US resident donates a used book to a charity. He wants to deduct the value of the book on his tax return. He observes that a very similar book can be bought for $30 at a local used bookstore. The ...
Bob's user avatar
  • 1,773
11 votes
1 answer
1k views

I gave items to a Charity Shop to sell, and signed up for Gift Aid on the donated items when sold. Should I put this on my Self-Assessment?

I gave items to a Charity Shop to sell, and signed up for Gift Aid on the donated items when sold. This increases the profit to the charity, who send me an annual letter informing me how much Gift Aid ...
EleventhDoctor's user avatar
7 votes
2 answers
3k views

I would like to donate my IRA to a certain charity. Will that charity be able to withdraw the money from the IRA tax free?

I don't want to withdraw and pay taxes on the cash in the IRA for obvious reasons. Hopefully the face value of the IRA will be the amount I can count as a charitable gift, but I'm more concerned with ...
Dahere's user avatar
  • 71
1 vote
1 answer
68 views

Tax treatment of large stock payment

I own stock in a previous employer that has just been acquired. I expect to receive a one-time lump sum payment of about one month’s salary, which I expect will be taxed as capital gains. Every year I ...
canary_in_the_data_mine's user avatar
3 votes
2 answers
411 views

If I donate 100 USD to a charity using PayPal Giving Fund, does the charity receive 100 USD?

I have a question about PayPal Giving Fund. About a year ago, I called them on the phone (I don't remember what number I called, but it was a line intended for donors). I asked the representative this ...
BeeePollen's user avatar
1 vote
1 answer
75 views

What's the benefit of giving through the Combined Federal Campaign?

The Combined Federal Campaign, from what I understand, solicits donations from federal employees and distributes them to charities. That's great if they can encourage more giving from their audience (...
Nick S's user avatar
  • 111
0 votes
1 answer
135 views

How can I check to see if this is a legitimate charity and how do I send money to them?

Supposedly, if I send money to a specific organization [name redacted to avoid legitimizing it for Google analytics, in case it ends up a scam], that will help feed children who attend a specific ...
BLT's user avatar
  • 1
27 votes
5 answers
6k views

Charity say that donation is matched: how does this work?

I regularly give money to a few charities. Naturally these charities ask me to give again from time to time. In the past few years I noticed more and more often that some charities encourage me to ...
Erwan's user avatar
  • 418
1 vote
1 answer
64 views

For evidence of charitable deduction, does the IRS accept a printout of an e-mail or a screenshot of a text?

This is a question about itemized charitable deductions and the evidence that the United States IRS requires. Although most of my acknowledgments are still via snail mail, I have several ...
ab2's user avatar
  • 1,900
32 votes
6 answers
10k views

Is "bank.gov.ua" the official website of the central bank of Ukraine?

Numerous websites have been encouraging people to donate to Ukraine, to their official government, via this website. (Note: ctrl+f "en" to find the English switcher.) Is this website legit (...
blueorchid3's user avatar
2 votes
1 answer
140 views

Will I get tax savings for donating my entire salary as charitable donation this year?

Due to various circumstances I have a huge amount of money stock piled and available to donate to charity this year. I'd like to maximize the amount donated, which means maximizing my tax savings as ...
dsollen's user avatar
  • 1,196
2 votes
4 answers
784 views

Would allowing my company to pay me less in order to donate that money to charity lead to net increase in charitable donations?

To give context for this question I first need to explain that I am lucky enough to make very good salary, and also live like I'm on minimum wage, which allows me to donate a pretty decent percentage ...
dsollen's user avatar
  • 1,196
14 votes
5 answers
5k views

Is it standard to not provide receipts or invoices for donations?

I recently made a donation to a non-profit organizations that performs humanitarian assistance in places of conflict. Afterwards I remembered that my employer matches my donation up to a particular ...
user111548's user avatar
31 votes
7 answers
17k views

How can I gift $41,000 to my friend anonymously? (Australia)

We both live in Australia. I don't want him to know it's from me. But I’m not hiding from the government. I’d prefer the money to go into his bank account so he can see it's real money. I have his ...
Ally's user avatar
  • 311
1 vote
0 answers
85 views

Is there any more efficent way to donate my inherritance from a trust directly to a non profit in the USA?

My grandfather passed away a little while back and apparently I'm one of the people he had listed as a beneficiary in his will. I'm due to inherit a small chunk of change, but I always donate my ...
dsollen's user avatar
  • 1,196
0 votes
3 answers
97 views

What tax benefits do people gain from donating to 501(c)(3)s?

Isn't the tax system progressive, so that your first (rough numbers from memory most likely inaccurate) say, $12000 gets taxed at X%, while your next, say, $8000 gets taxed at Y% (Y>X), and your ...
Jimmy Choo's user avatar
2 votes
4 answers
221 views

How do tax payers have to pay for the tax deductions someone else receives due to a charitable donation?

"A $1,000 donation from a donor in the highest tax bracket costs that donor only $604. The federal government kicks in the remaining $396 in the form of a reduction in taxes", writes Ray D. ...
Manisha's user avatar
  • 21
1 vote
2 answers
184 views

Donating to a 501c charity from Australia

I make monthly donations to various open source projects via Open Collective which is a 501(c)(6) organisation. I live, work and pay tax in Australia. Are these donations tax deductible in Australia?
dwjohnston's user avatar
3 votes
2 answers
106 views

If I donate something to charity can I claim tax back based the price in £ I originally paid for it?

Or can I only get back what the charity can sell it for? What if they use it rather than sell it ie donating old furniture to a shelter or an old TV assuming I still have the receipt or even bigger ...
red squirrel's user avatar
1 vote
2 answers
100 views

Can I donate investment income to charity without getting taxed

I'm wondering if I can donate stock cash dividends or bond interests to charities and make the donations tax deductible? Update: sorry I think I phrased my question poorly. What I really wanted to ...
LeonC's user avatar
  • 31
0 votes
1 answer
97 views

Easy way to donate a few dollars to charity, manually, every day? [closed]

(I hope this is not off-topic, and apologies if it is) I'm looking for an easy way to donate a few dollars to charity every day (possibly different amounts, depending on the day). Requirements: I ...
MWB's user avatar
  • 541
0 votes
2 answers
150 views

Tips on frugal approaches to donating to charities for averagely well-off

The title says it all really, but to get the discussion going let's imagine the following simplified reality: Suppose John is 25 years old, lives in the UK, has a very secure job with a take-home ...
Pink and Floyd's user avatar
0 votes
5 answers
528 views

When and how would a company make money by taking $1 out of my paycheck and donating it to charity?

In the US as I understand it, there are corporate tax deductions for charitable giving. For this or any other reason, would a company with large salary expenditures and positive profits (sometimes) ...
capet's user avatar
  • 213
0 votes
0 answers
58 views

Are campaign contributions to NON government positions tax deductible?

If someone is running for an elected position on a private university board, and you donate to them, is that a tax-deductible contribution? Or does the "no tax deductions for campaigns" refer to non ...
bones225's user avatar
  • 101
2 votes
0 answers
183 views

What car is appropriate for a fundraiser to drive [closed]

My partner and I are looking at new cars. I am a software developer, she is a fundraiser for a non-profit organization and we share a vehicle to commute work. Recently we started looking for new ...
Ian's user avatar
  • 21
1 vote
7 answers
352 views

How best to invest high income if looking to eventually maximize charitable donations?

I live in the US (Maryland) and make over 140,000 a year (is it bad that after I hit 6 figures I stopped paying attention to exact salary and so can't recall more accurately then that?). I'm lucky ...
dsollen's user avatar
  • 1,196
10 votes
2 answers
425 views

Donation via text message, does all (or most) of the money go to the charity?

A while ago a signed up via text message to Save the Children £3 per month. I get a message every month saying thank you for donating and £3 is added to my phone bill. But I wonder does the phone ...
PaddyD's user avatar
  • 203
27 votes
9 answers
8k views

In Germany, how can I maximize the impact of my charitable donations?

I have recently reached a point in my life where I want to start making regular donations to worthwhile charities, but I have no idea which charity is most "deserving" of my money. I understand that ...
Matt M.'s user avatar
  • 391
5 votes
0 answers
3k views

Donating winning lottery ticket to 501(c)3 Private Foundation: cost-basis deduction + full tax free redemption for foundation?

US 501(c)3 Private Foundations are typically controlled by the primary donator, so that is a nice perk, but in exchange for that perk I realize the tax deductions for donating are significantly ...
CQM's user avatar
  • 20.2k
3 votes
1 answer
95 views

Is there a list of financial assistance programs in Ontario, for the poor but not disabled?

As nobody in my family is disabled, we probably don't qualify for Ontario Disability Support Program. But we're indigent, and I'm downcast to find out only about OESP today! I know about the big ones ...
user avatar
3 votes
1 answer
146 views

How can I (1) streamline my charitable giving and (2) avoid being pestered by "free gifts" and multiple mailings from the charities I want to support?

I am trying to simplify my life and my financial life, and am making good progress, partly because I am well organized and hate stuff. A few financial areas are defeating me, however. This one may ...
ab2's user avatar
  • 1,900
3 votes
1 answer
92 views

Tax deduction for donating to international charity

If one sponsors a child from an impoverished country through a charity like Save the Children international, can this contribution still be considered tax deductible in Australia?
Ahsan's user avatar
  • 163
1 vote
2 answers
338 views

Is it possible to run a non-profit organization that performs typically for-profit work?

I am based in the US, and I really like the idea of starting a non-profit organization that I can use to do good in charitable areas that I would like to contribute to. Unfortunately, one of my only ...
Andy K.'s user avatar
  • 21
5 votes
3 answers
209 views

Credibly Commit to Charity Matching? [closed]

Edit: Thank you all for your answers, I consider this issue resolved! The answer appears to be that there is no easy or universal platform that enforces charity-matching commitments, but that ...
capet's user avatar
  • 213
1 vote
1 answer
191 views

Are dual US-Canadian citizens in Canada required to pay US taxes on their donations to Canadian charities?

Suppose Gordon is a Canadian citizen resident who is also a US citizen. Gordon earns $1,000,000 a year in net income from his Canadian executive job. He pays an overall rate of 40% in taxes. Gordon ...
SammyS's user avatar
  • 23
1 vote
0 answers
64 views

Lowest Transaction Cost for Charitable Donation [duplicate]

I find most charities have a website that allows you to donate via credit card, paypal, or a physical address you can mail checks (if you dig hard enough). Each have their own transaction costs. ...
user avatar
3 votes
1 answer
249 views

Donations: In need of guidance on filling out a 8283 form

I believe I have this 80% figured out although theres still some grey areas thus far based on researching a variety of tax websites and IRS's official page. My situation is as follows. Donating FIVE ...
James Dean's user avatar
5 votes
2 answers
722 views

How much percent will Wikipedia receive from small donations done via paypal?

Currently Wikipedia is doing a capital campaign in Germany asking for money. I wondered if I should donate via direct debit or paypal and wondered how much percent will Wikipedia (or other non profit ...
velop's user avatar
  • 153
0 votes
1 answer
145 views

Is A Company Abusing The Tax Code When It Does This, And How Does The IRS Prevent It? [closed]

When answering, please cite specifics. Which section of the tax code deals with this abuse? What cases have been prosecuted? This SO answer describes an abusive tax scheme involving non-cash assets ...
Mowzer's user avatar
  • 292
4 votes
2 answers
7k views

Why do so many NFL (pro football) players have charities?

Besides fulfilling their desire to do good works in their communities and giving being an essential part of being wealthy for many, are there more tangible benefits for NFL players (and professional ...
Mowzer's user avatar
  • 292
23 votes
4 answers
5k views

Is it possible to give to charities anonymously?

Several years ago, I gave a small donation of $20 to a charity. Every few months, I've received mailings from them with news about the work they are doing and an encouragement to give more. I've never ...
Thunderforge's user avatar
  • 1,345
1 vote
1 answer
165 views

Do crowd-sourced charity funds work without a social network?

Someone I know and respect is going through a serious emergency and needs financial help. He has been very sick for years, and is socially isolated. He only has a couple friends. I am thinking ...
End Anti-Semitic Hate's user avatar
4 votes
2 answers
207 views

Brokerage account for charity

I wanted to mess around with this app called Robbinhood that lets you trade commission free. I decided to demo it for a year before I put any substantial amounts in it. I put $100 in the account in ...
DotNetRussell's user avatar
-1 votes
1 answer
94 views

Supporting Parents by Paying Monthly Payments Tax Benefits

Each month I pay my parents $300 so they can support themselves. My father still works and so is my mother. They filed a joint return themselves. They DO NOT live with me. Can I get any tax benefits ...
JohnDoe's user avatar
  • 113
17 votes
3 answers
7k views

How can this be enough to fund a scholarship in perpetuity?

I am trying to understand how funding for scholarhips works. I received this email recently: Some of you, and your colleagues, knew X, a long-time member of our Unit, who died recently. We have ...
Flounderer's user avatar
11 votes
1 answer
6k views

Can pretax lottery winnings be donated to charity?

Can pretax lottery winnings be donated to charity in the US simultaneously creating a deduction of the taxable lottery winnings and putting pretax proceeds to a productive cause?
CQM's user avatar
  • 20.2k
3 votes
1 answer
112 views

Investing in mutual fund and donating mutual fund assets to charity

I will be making an investment in a mutual fund. I would also like to donate some mutual fund holdings to charity. Since the fund holdings have appreciated in value, I need to make sure that I don't ...
Les's user avatar
  • 165
0 votes
1 answer
267 views

What is the 'opportunity cost' for delaying charitable donations, and when to grant them?

This question is kind of off topic, but this is the best sight I can find for it, so hopefully your humor me. I'm trying to figure out the optimal way to donate my charitable money, this question ...
dsollen's user avatar
  • 1,196