Whatever you find in your heart to donate, whether it's $1 or $100,000, it will make a HUGE difference. Your tax deductible donations do everything from introducing hope into a young person’s life when their environment says otherwise to creating an enlightening and positive experience for disabled individuals that will be talked about for a long time to come.

 

Taxes and Your Donation

A donation to SAILvation may also be a financial benefit at tax time. The following are some tax related considerations:

• As a nonprofit corporation, SAILvation is classified by the Internal Revenue Services as exempt under IRC Section 501(c)(3)
• Keeping records of your donations via receipts or letters from SAILvation acknowledging receipt of your donation are critical to support your tax deductions.
• Donations of more than $250 must be supported by record of payment from your bank. (Cancelled check, bank statement, etc.)
• As a volunteer, your services are not tax deductible, however you may be able to deduct some expenses if they are:
  • Not reimbursed through your employer or anyone else
  • Directly connected with the services you performed
  • Expenses you had only as a result of your volunteer work
  • Not personal, living or family expenses
  • In most cases, only 50 percent of your adjusted gross income can be deducted. However, the overage may be carried over into the next fiscal year.

Note: Tax and Donation comments are provided for informational purposes only and are not to be considered as tax or legal advice. It recommended you contact a tax professional for additional information.

To donate, send a check payable to SAILvation, to P.O. Box 736, St. Petersburg, FL  33713
or simply click the Donate button below.