[K12OSN] Tax Deductions

[Ascension Tech]

How come you don't  assign a monetary value ?


On Tue, 28 Dec 2004 15:01:36 -0800, Dennis Daniels <ddaniels at magic.fr> wrote:
> Through the student computer club on campus I've managed to get over 100
> computers (PIIs and better!) and a bunch of monitors, mid-range
> switches, cables etc. The donor gets a letter with the school
> letter-head thanking them and referencing their donation... no monetary
> value is assigned.
> 
> hth
> Dennis
> 
> Jim Hays wrote:
> > 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>
> >>
> >>_______________________________________________
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> >>
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> >>
> >
> >
> > -----------------------------------------
> > Jim Hays
> > Technology Director
> > Monticello CUSD#25
> > Monticello, IL  61856
> > -----------------------------------------
> >
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> >
> >
> 
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