Explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions and for taxpayers who make contributions.
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In-Depth knowledge on Fundraising & Gift Acceptance
Community foundations occasionally receive a request for their money back from donors of advised funds and organizations that have established designated funds or agency endowments.
Community foundations are often faced with requests from donors or local volunteers who wish to express their support by raising money for the community foundation or for a particular fund.
Definition and issues around accepting gifts of tangible personal property.
When a contribution consists of property other than cash, it must be determined if it is in the community foundation’s best interests to accept such property.
Raising money for community needs is the central function of community foundations. No surprise, then, that we receive more questions about fundraising than about any other topic.
Accepting gifts of real estate, subchapter S corporations, and business interests (including general partnerships, limited partnerships, limited liability partnerships, and limited liability companies).