Gifts & Taxes

Taxes

Making the most of your contributions includes not only finding a charity that is right for you but also knowing about your tax benefits. Per the terms of RCW 24.03 and IRS 501(c) (3) AFF is a Washington State non-profit corporation, registered with the IRS (EIN# 91-1691404) to receive tax-deductible donations as allowable by law.

American Friendship Foundation depends on individual donations to ensure that the important projects AFF funds are able to achieve their goals. AFF can accept checks, bank transfers, stock and other gifts. AFF will provide you with a reciept for your gift. Email us at thenextstep@affhope.org  to find out more about how you can support AFF projects.

Tax Deductions

To claim a deduction, you will need to fill out a 1040 Form, which is available through the IRS website, and itemize your deductions on Schedule A. If you fill out the short form or take standard deductions, you may not be able to claim your contributions.

Though the IRS does not 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 receipt from the organization to which you donate. Note the donation amount, the date of the contribution, and the name of the charity.

For donations over $250, the receipt for the charitable organizations needs to record the donation amount, the date the donation, and the name of the charity, as well as a written acknowledgement from the organization of any property or services that you may have received in return for your donation and an estimate of their value. Please consult your tax advisor for specific tax advice

Deduction for volunteering time and services

You cannot deduct the value of time or services to a charitable organization, but, with certain limits, you can deduct hard costs associated with that volunteering, such as travel costs. Please consult your tax advisor for specific tax advice.