The Tax Law of Charitable Giving. Bruce R. Hopkins

The Tax Law of Charitable Giving - Bruce R. Hopkins


Скачать книгу
destroyed by a flood or replacing an individual's income after the individual becomes unemployed as the result of a civil disturbance. This “issue,” the IRS writes, is “especially relevant when the volume of contributions received in response to appeals exceeds the immediate needs.” The IRS states that a charitable organization “is responsible for taking into account the charitable purposes for which it was formed, the public benefit of its activities, and the specific needs and resources of each victim when using its discretion to distribute its funds.”

      The IRS states that this documentation should include a complete description of the assistance provided; the costs associated with provision of the assistance; the purpose for which the aid was given; the charity's objective criteria for disbursement of assistance under each program; how the recipients were selected; the name and address of, and the amount distributed to, each recipient; any relationship between a recipient and directors, officers, and/or key employees of, or substantial contributors to, the charitable organization; and the composition of the selection committee approving the assistance.

      With respect to short-term emergency aid, the IRS guidelines recognize that charities proving that type of assistance are only expected to maintain records showing the type of assistance provided; the criteria for disbursing assistance; the date, place, and estimated number of victims assisted; the charitable purpose intended to be accomplished; and the cost of the aid. By contrast, organizations that are distributing longer-term assistance are required to keep the more detailed records.


Скачать книгу