To a government endeavor such as a grant, fund, or thing that serves the general public (for example, giving to a public park).Religious organizations such as churches, synagogues, temples, and mosques.
What Qualifies as a Charity to the IRS?īefore making a tax-deductible contribution, it’s best to Verify a 501(c)(3) Charity before deciding to donate to ensure the organization is eligible under IRS rules.
In accordance with IRS Publication 526, an individual may deduct a maximum of up to 50% of their Adjusted Gross Income (AGI) for the tax year the donation was given (other limitations may apply).ĭepending on current legislation, there may be ways to deduct more the limited amount, for example, in 2017 there was no restriction on how much a filer could deduct for donations given to “disaster area contributions”. If the donor decides to make a deduction for a fiscal tax year, the receipt must be kept for a period of 2 years from the date the tax was paid or 3 years from the date the original return was filed, whichever is later. Primarily, the receipt is used by organizations for filing purposes and individual taxpayers to provide a deduction on their State and Federal (IRS) income tax. A donation receipt is used by companies and individuals in order to provide proof that cash or property was gifted to an individual, business, or organization.
