- Whatever you find in your heart to donate, whether it's $1 or $100,000, it will make a HUGE difference. Your tax deductible donations do everything from introducing hope into a young person’s life when their environment says otherwise to creating an enlightening and positive experience for disabled individuals that will be talked about for a long time to come.
- Taxes and Your Donation
A donation to SAILvation may also be a financial benefit at tax time. The following are some tax related considerations:
- As a nonprofit corporation, SAILvation is classified by the Internal Revenue Services as exempt under IRC Section 501(c)(3)
- Keeping records of your donations via receipts or letters from SAILvation acknowledging receipt of your donation are critical to support your tax deductions.
- Donations of more than $250 must be supported by record of payment from your bank. (Cancelled check, bank statement, etc.)
- As a volunteer, your services are not tax deductible, however you may be able to deduct some expenses if they are:
- Not reimbursed through your employer or anyone else
- Directly connected with the services you performed
- Expenses you had only as a result of your volunteer work
- Not personal, living or family expenses
- In most cases, only 50 percent of your adjusted gross income can be deducted. However, the overage may be carried over into the next fiscal year.
Note: Tax and Donation comments are provided for informational purposes only and are not to be considered as tax or legal advice. It recommended you contact a tax professional for additional information.
To donate, send a check payable to SAILvation, to P.O. Box 736, St. Petersburg, FL 33713
or simply click the Donate button below.