Hi, all --I'm looking for some guidance to answer a question I was asked the other day.I handle the contributions for a small choral group to which I belong, a 501(c)(3) organization to which contributions are tax deductible. I record the donation, send the requisite "no goods or services..." letter to the donor, then send the check to the treasurer to record and deposit.Last year, we started asking for dues from singers to defray costs. If someone cannot afford the dues, they are not required to pay. Can these dues be considered a tax-deductibe charitable contribution to the organization? I can see the answer both ways.Thanks for any insights you can provide.Earble
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra