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Tax-Deductible Year-End Donations: Give to Local Charities

This holiday season, give the gift of a year-end donation to a Glendale-area charity of your choice.

Looking to keep the spirit of giving alive this holiday season? How about a generous donation to a local nonprofit?

There are 109 501 (c) 3 organizations based in Montrose, according to the IRS.

Not only can your contribution help a worthy cause, you can get back in return. Year-end donations to qualified 501 (c) 3 organizations are tax deductible.

There are several tax law provisions that have taken effect over the years, so here are a few tips to make a successful year-end tax deductible donation to your favorite charitable organization.

1)   Donations of goods, such as clothing and household items, must be in good used condition or better to be tax deductible. However, if the donation is worth $500 or more, the items do not have to be in good condition if the items come with a qualified appraisal. These items could include furniture, electronics and appliances.

2)   To deduct any charitable donation of money, the taxpayer must have a bank record or some kind of written document from the charity showing the name of the charity, the date and the amount of the contribution. Bank records include canceled check and bank or credit card statements.

3)   All contributions are deductible for the year the contribution is made. If a donation is charged on a credit card before the end of this year, that contribution will apply to 2011 even if the payment is made in 2012.

4)   Check if your intended organization is qualified by checking the IRS Publication 78, which lists all of the eligible organizations in the country.

5)   Only taxpayers who itemize their deduction on Form 1040 Schedule A are eligible for charitable donations deductions. Those who file short forms (1040A or 1040EZ) are not eligible.

6)   When donating a motor vehicle, boat or airplane, tax deductions are applied to the gross proceeds from its sale and the claimed value is more than $500. The donor must receive a Form 1098-C, or a similar statement, by the organization. The form must be attached to the donor’s tax return.

According to the IRS Publication 78, there are 109 eligible charitable organizations based in Montrose and La Crescenta. These include:

 

Crescenta Valley Alumni Association

Montrose Christmas Parade Association

Armenian Apostolic Church of Crescenta Valley

Abraham Lincoln Elementary School Foundation

Dunsmore Elementary School Foundation

Djanbazian Dance Foundation

Desi Geestman Foundation Inc.

Valley View Education Foundation

Verdugo Hills Art Association Inc.

Western Armenian Heritage Foundation

Mountain Avenue Committed to Kids

Monte Vista Elementary School Foundation

Friends of La Crescenta Library

Crescenta Sports Association

 

 

 

Monica Baltazar December 29, 2011 at 01:12 AM
Thank you for the reminder! May I humbly suggest the Glendale Humane Society as an organization to which you may consider donating. The IRS Publication 78 also lists the Glendale Humane Society as an eligible charitable organization. On behalf of the animals, thank you in advance.
lisa yeghiayan December 29, 2011 at 06:18 PM
Please don't forget Prom Plus, the safe, after-prom event for CV High students. We have $15 car wash coupons available for washes and luxury treatment for you at Lexus of Glendale. 100% of the proceeds go directly to Prom Plus. Why not buy a year's worth of car washes? Go to promplus.org for more information on how to get the tickets delivered to you..

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