[K12OSN] Tax Deductions

[Tim Kaldahl]

On Thursday 30 December 2004 13:05, Ascension Tech wrote:
> 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/k1
> > >>2osn<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
> > > -----------------------------------------
> > >
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> > > https://www.redhat.com/mailman/listinfo/k12osn
> > > For more info see <http://www.k12os.org>
> >
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>
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Basically the IRS says that it is up to the donor to assign a monetary value 
to the donations given.
-- 
Tim Kaldahl
Maplewood Academy
I.T. Coordinator
tkaldahl at maplewoodacademy.org
320-587-5673