Charitable status: Difference between revisions
No edit summary |
(...in the US) |
||
| Line 1: | Line 1: | ||
For a [[non-profit organization]] to have '''charitable status''' under the law means that a [[donation]] to that organization results in the issue of a [[tax receipt]] - that is, a [[receipt]] that entitles the [[donor]] to a [[tax deduction]]. | For a [[non-profit organization]] to have '''charitable status''' under the law means that a [[donation]] to that organization results in the issue of a [[tax receipt]] - that is, a [[receipt]] that entitles the [[donor]] to a [[tax deduction]] in the [[US]]. Effectively, citizens of that jurisdiction give up a right to tax some amount on the assumption that the organization acts in their own interests. | ||
Accordingly, organizations with such '''status''' fall under much closer scrutiny than those without it. | Accordingly, organizations with such '''status''' fall under much closer scrutiny than those without it. | ||
Revision as of 08:51, 6 September 2004
For a non-profit organization to have charitable status under the law means that a donation to that organization results in the issue of a tax receipt - that is, a receipt that entitles the donor to a tax deduction in the US. Effectively, citizens of that jurisdiction give up a right to tax some amount on the assumption that the organization acts in their own interests.
Accordingly, organizations with such status fall under much closer scrutiny than those without it.