[K12OSN] Tax Deductions

[Jim Hays]

When people donate computers to our schools, we simply write a letter thanking
them for the donation.  It is up to the person making the donation to itemize
the donation on their return.  The letter is verification of the donation. 
There is not any "red tape".  


Quoting Rob Owens <robowens at myway.com>:

> 
> I'm not an accountant, so don't take my word as gospel...
> 
> I worked w/ a not-for-profit organization that occasionally received
> donations.  For one of the larger donations, the donor asked us for a "thank
> you letter" to him stating what was donated, and to include our tax ID number
> on it.  
> 
> To my knowledge, the recipient of the donation does not have to do anything
> but accept the donation and possibly record it as income.  It's the donor who
> needs to claim the deduction on his taxes and must be able to back up his
> claim in case of an audit.  
> 
> -Rob
> 
> 
>  --- On Mon 12/27, Barry Solof < barry at yellowdog.com > wrote:
> From: Barry Solof [mailto: barry at yellowdog.com]
> To: k12osn at redhat.com
> Date: Mon, 27 Dec 2004 12:20:16 -0500
> Subject: [K12OSN] Tax Deductions
> 
> Hi,<br><br>How do you handle contributions made to your school so the
> contributor <br>can get tax credits?<br><br>I've been trying to get a local
> school setup with k12ltsp for about two <br>years.  We've found enough old
> computers, monitors and keyboards for our <br>project from a local government
> agency. We had a little money set aside <br>and it looked like we were just
> about set to go.  Then there was a <br>problem with the schools budget and
> many, many things got axed.  The <br>monies for the k12ltsp servers were in
> the cuts.  So we have terminals <br>but no servers.<br><br>I can't blame them
> for the cuts, either. Money is so tight that they <br>have to worry about a
> lot more than computer systems right now.  But I'd <br>still like to figure
> out how to get them started with K12ltsp.  It would <br>change their
> world.<br><br>So it looks like we're going to have to go begging for
> donations of good <br>equipment to the school.  I think the only real chance
> for success with <!
> br>this approach would be to offer tax deductions for the contributors. 
> <br>What sort of red tape or accounting is required to be able to do this
> <br>properly?  How do you handle contributions?  Have you had any success
> <br>going out into the local private sector to ask for this sort of
> donations? <br><br>Many
> thanks,<br>Barry<br><br>_______________________________________________<br>K12OSN
> mailing
> list<br>K12OSN at redhat.com<br>https://www.redhat.com/mailman/listinfo/k12osn<br>For
> more info see <http://www.k12os.org><br>
> 
> _______________________________________________
> No banners. No pop-ups. No kidding.
> Make My Way your home on the Web - http://www.myway.com
> 
> _______________________________________________
> K12OSN mailing list
> K12OSN at redhat.com
> https://www.redhat.com/mailman/listinfo/k12osn
> For more info see <http://www.k12os.org>
> 


-----------------------------------------
Jim Hays
Technology Director
Monticello CUSD#25
Monticello, IL  61856
-----------------------------------------