Tag: charitable organization

Safe Donations

The convenience of online donations makes it simple to give, but also opens the door to criminals hoping to make money using bogus charities. The IRS Newswire recommends using the TEOS to check the legitimacy of any charity you are considering.

From the October, 2023 edition, “Those who wish to make donations should use the Tax-Exempt Organization Search (TEOS) tool on IRS.gov to help find or verify qualified, legitimate charities.

With the TEOS, people can:

  • Verify the legitimacy of a charity 
  • Check its eligibility to receive tax-deductible charitable contributions 
  • Search for information about an organization’s tax-exempt status and filings”

Sharing your wealth is a great practice, just make sure you are working with reputable groups who are using the money to help those in need.

Amplify Austin

Amplify_UFCU_verticalJoin the first community wide giving festival through Amplify Austin. 

How It Works

Visit this website (AmplifyATX.org) during Amplify Austin Day, which starts at 7pm, March 4 and ends 7pm, March 5.

At that time, this website will be transformed into a giving site; you’ll be able to search by the name of the nonprofits you love or the causes you’re passionate about.

You will have a greater impact by giving through this website on Amplify Austin Day because our sponsors have created an incentive pool to enhance your donations, and prizes of $1,000 will be given hourly to the nonprofits that garner the most dollars or donors.

On Amplify Austin Day, we are giving back to the city we love. Join us!

 

Donations of Unreimbursed Expenses

May I deduct as charitable contributions expenses that I incur on behalf of a charitable organization that are not reimbursed?

Per IRS Publication 1771:

If a donor makes a single contribution of $250 or more in the form of unreimbursed expenses, e.g., out-of-pocket transportation expenses incurred in order to perform donated services for an organization, then the donor must obtain a written acknowledgment from the organization containing:

    a description of the services provided by the donor

    a statement of whether or not the organization provided goods or services in return for the contribution

    a description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution

    a statement that goods or services, if any, that an organization provided in return for the contribution consisted entirely of intangible religious benefits (described earlier in this publication), if that was the case.

In addition, a donor must maintain adequate records of the unreimbursed expenses. See Publication 526, Charitable Contributions, for a description of records that will substantiate a donor’s contribution deductions.
Example of an unreimbursed expense: A chosen representative to an annual convention of a charitable organization purchases an airline ticket to travel to the convention. The organization does not reimburse the delegate for the $500 ticket. The representative should keep a record of the expenditure, such as a copy of the ticket. The representative should obtain from the organization a description of the services that the representative provided and a statement that the representative received no goods or services from the organization.
Publication 1771 also reviews the disclosure requirements of charitable organizations.