NON-PROFITS: It isn’t too early to think about your end-of-the-year fundraising

As you strengthen your relationship with your organization’s supporters, emphasizing those tax deductions can be especially appealing to your donors. Tax breaks are major influencers to your supporters. Charitable donations are tax-deductible expenses and must be itemized. If your donors have any questions about filling out a Form 1040 Schedule A, advise them to consult with their tax preparer on claiming their deductions and the percentage limits on their particular overall tax deductions. Such limits include:

· Generally, you can deduct cash contributions in full up to 50% of your adjusted gross income.
· Generally, you can deduct property contributions in full up to 30% of your adjusted gross income.
· Generally, you can deduct contributions of appreciated capital gains assets in full up to 20% of your adjusted gross income.

The excess of these limits on Charitable contributions can possibly be carried over for a maximum of five years. Individuals still need to consult their tax preparers regarding their particular situation. Here is a great article published by Network for Good entitled “Holidays in July: Get a Jump on End-of-the-Year Fundraising” by Rebecca Higman and Julie Stofer, that lists some great tips on kicking off your holiday fundraising right now. http://www.fundraising123.org/article/holidays-july-get-jump-end-year-fundraising

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