Snow Angels in Ecuador depends on donations, which then used to us to improve the lives of both the urban and rural poor here in Cuenca, Ecuador. While the urban poor face high prices for food and other essentials, which they struggle due to low incomes, making nutritious food unattainable. Rural families are often malnourished because of a lack of diverse nutrients in their diets, that’s if they have enough to eat at all. In both cases, children, the elderly and physically disables suffer the most.
What is a Charitable Donation?
A charitable donation is a gift made by an individual or an organization to a nonprofit organization, charity, or private foundation. Charitable donations are commonly in the form of cash, but they can take other forms as as well.
Your charitable donation in the form donations given through our “Make a Donation” page helps us to fund not only out Food Outreach Program, but also goes to support the other programs we help to support in 2020 including the OSSO orphanage, El Arenal and Hearts of Gold.
Are Charitable Donations Tax Deductible?
To be deductible, charitable donations must be made to qualified organizations. This can reduce your taxable income, but to claim the donations, you have to itemize your deductions. In order to claim a deduction for charitable contributions, itemized deductions must be submitted with tax filings. Claim your charitable donations on Form 1040, Schedule A. Your donations must go to an organization that’s one of these:
- Nonprofit religious group
- Nonprofit educational group
- Nonprofit charitable group
With a contribution of $250 or more, you can claim a deduction only if you obtain a written acknowledgment from the qualified organization. The written acknowledgment required to substantiate a charitable contribution of $250 or more must contain the following information:
- Name of the organization;
- Amount of cash contribution;
- Description (but not value) of non-cash contribution;
- Statement that no goods or services were provided by the organization, if that is the case;
- Description and good faith estimate of the value of goods or services, if any, that organization provided in return for the contribution; and
- Statement that goods or services, if any, that the organization provided in return for the contribution consisted entirely of intangible religious benefits, if that was the case.