buddhist charity, nonprofit

What does it mean to be a 501(c)3 organization?
For charies, this means that they can accept contributions and offer donors a tax deduction for thier gifts. For donors like you, this means yuor contributions are fully tax-deductible to the amount allowed by law.

What counts as a charitable organization?
A charitable organization is generally defined as any nonprofit organization that is incorporated and indentified by the IRS as a 501(c)3 organization. American Buddhist Sangha is awaiting tax-exempt status and once accecpted can accept contributions.

How can I take a deduction for my donation?
To claim a deduction, you will need to fill out a 1040 Form which is available through the IRS Website, and itemized deductions on your Schedule A. If you fill out the short form or take standard deductions, you cannot cliam your contribution.

Do I need a receipt for donation I make?
The IRS doesn't require receipts for cash donation under $250, but you should keep donation information on file. cash contributions of $250 and over require an acknowledgement that must be sent to the IRS with your tax returns.

Donors can make charitable contributions and receive a tax deduction on their tax return. Making the most of your contributions includes not only finding a charity that's right for you but also knowing about you tax benefits. American Buddhist Sangha has registered with the IRS as 501(c)3 organization and is awaiting tax-exempt status.

Do I need any acknowledgement for dontaions under $250?
Though the IRS doesn't require receipts for donations under $250, it is a good idea to keep this information on file. Be sure to keep the canceled check, credit card statement, or email receipt from the organization to which you donate. Always note the donation amount, date of the contribution, and the name of the charity.

For donations over over $250, what information does one need ?
The receipt needs to record the donation amount, the date the donation was made,and the name of the charity, as well as a written acknowledgement from the organization of any property or services that you may have recieved in return for your donation and an estimate of their value. The IRS should ackowledge an email receipt as an acceptable record of donation, but to be certian, always consult your
tax advisor. You will also have to submit your receipts to the IRS by the due date for tax returns or by the date you file your tax returns for the year in which you made the donation, depending on which one comes first.

Can I take a deduction for volunteering my time and sercives?

You cannot deduct the value of time or services to a charitable organization, but you can deduct any hard costs associated with that volunteering, such as the gas or bus fare it cost to get there, For example, if you volunteer in a charitable hospital and have to wear a unifrom, you can deduct the cost of buying and cleaning the unifrom.
The IRS will let you deduct any out-of-pocket expenses you acquire in the course of volunteering.

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If you prefer to send a check or money order to support our organization please make check or money order to: American Buddhist Sangha Inc.

Address:

American Buddhist Sangha Inc.

Attn. Michael Nolan

5610 SW 37th Street

Davie, FL 33314