Thank you for considering a contribution to Mountainside. On this page we have gathered answers to frequently asked questions about the tax benefits of your contributions.
Tax Benefits - Frequently Asked Questions
Making the most of your contributions includes knowing about your tax benefits. Mountainside is a non-profit 501(c)(3) organization so all contributions are fully tax deductible to the extent allowed by the IRS.. To learn more about this and other related topics, please browse our FAQs below.
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- What does it mean to be a 501(c)(3) organization?
For charities, this means that they can accept contributions and offer donors a tax deduction for their gifts. For donors like you, this means your contributions are fully tax-deductible to the amount allowed by law. The email receipt you receive from Mountainside does indeed meet all the IRS requirements as a record of donation.
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- What is my tax benefit for charitable contributions?
The chart below gives the deduction for a single person in each tax bracket making a cash donation of $100. The instructions for the 1040 Form will help determine the exact amount of your deduction, which will vary depending on your tax bracket and whether you file as a single person or jointly.
| Tax Bracket |
Donation Amount |
Benefit |
Out-of-Pocket Cost |
| 10% |
$100 |
$10 |
$90 |
| 15% |
$100 |
$15 |
$85 |
| 25% |
$100 |
$25 |
$75 |
| 28% |
$100 |
$28 |
$72 |
| 33% |
$100 |
$33 |
$67 |
| 35% |
$100 |
$35 |
$65 |
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- What counts as a charitable organization? A charitable organization is generally defined as any nonprofit organization that is incorporated and identified by the IRS as a 501(c)(3) organization. Mountainside has been given tax-exempt status and can accept contributions.
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- 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 itemize your deductions on Schedule A. If you fill out the short form or take standard deductions, you cannot claim your contributions.
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- Do I need a receipt for donations I make? The IRS doesn't require receipts for cash donations 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.
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- Do I need any acknowledgement for donations 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.
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- For donations over $250, what information does the receipt 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 received in return for your donation and an estimate of their value. The IRS should acknowledge an email receipt as an acceptable record of donation, but to be certain, 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.
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If you are interested in learning more or would like to be contacted by a person in our Development Office please send us an e-mail by clicking on the below link or call us at 1-800-762-5433. Thank You.
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