Here’s our list of the 99 wealthiest nonprofits based on the book value of total assets they report to the IRS (United States Internal Revenue Service). You’ll see some familiar foundation, health system and university names (Kaiser, Stanford, Yale, Gates, Harvard, Fidelity Charitable, etc.), Thrivent Financial for Lutherans tops the list. Continue reading
Charity stuff
IRS warns of scammers using fake charities to exploit taxpayers
Fake charities a year-round plagueWhether tying themselves to a prominent cause or preying on compassion related to a natural disaster, fake charities are a year-round plague. And fake charities do double damage — they steal from you and they steal from those you want...
Protect your year-end donation deductions – 2022 – a Q&A
Question #1: You use your credit card to donate to a qualified charity on December 31 this year. You don't pay the credit card bill until January next year. For which year do you get to take the charitable contribution deduction on your federal (IRS) income taxes? Of...
Tax-free IRA donations are Smart!
Give and Grin. If you are age 70½ (70.5) or older you can donate from your IRA directly to the qualified organization (see below) of your choice -- tax-free! This special IRA donation rule allows you to give up to $100,000 in a calendar year. We call this the "Grin...
Together we can UP charity services by $36 billion a year
Individuals (that's you, me, our friends, our neighbors) donate more than $366 billion to charities a year (direct giving (including bequests) in 2020). And that doesn't even include what individuals give through family foundations. Individuals as a group are by far...
IRS warns that some crowdfunding money may be taxable to the recipient
From the IRS: Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It's important to know that money raised through crowdfunding may be taxable. Highlights from the IRS Tax Tip If a...
