501c4
can a 501c4 organization recieve any donations of money, product or items that might be used by the organization?
Asked on 8/13/08, 3:07 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: 501c4
Yes, a 501(c)4 Organization may receive items for use by the organization from donors. The donor may get a deduction for the item depending upon the nature of the item and the donor's tax situation. For example, a recreational league could receive baseball equipment for use by the teams and this would not be taxable to the organization.
Tax Exempt Organizations are more complicated than similar for profit businesses. You should definitely consult your tax attorney.
I hope this helps!
Ron Cappuccio
http://www.NonProfitEsq.com
Answered on 8/13/08, 4:04 pm
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