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<blockquote data-quote="stinger78" data-source="post: 999298" data-attributes="member: 6771"><p>Certain restricted donations are tax deductible. I acknowledged this above.</p><p></p><p>From the website, Charitable Allies:</p><p>[URL unfurl="true"]https://charitablealli/[/URL]</p><p></p><p>“To qualify as a charitable contribution, a gift must be complete (i.e., no “strings” attached) and irrevocable. The charity<strong> must have full control</strong> of the donated funds, and discretion as to their use to carry out the organization’s charitable functions and purposes.” (Emphasis mine)</p><p></p><p>There is obviously a huge gray area around what constitutes control. The IRS has decided that a scholarship fund for athletes, wherein distribution of those funds rests solely with the fund managers and not the donors, is compliant. Control rests with the receiving organization, not the donor.</p></blockquote><p></p>
[QUOTE="stinger78, post: 999298, member: 6771"] Certain restricted donations are tax deductible. I acknowledged this above. From the website, Charitable Allies: [URL unfurl="true"]https://charitablealli/[/URL] “To qualify as a charitable contribution, a gift must be complete (i.e., no “strings” attached) and irrevocable. The charity[B] must have full control[/B] of the donated funds, and discretion as to their use to carry out the organization’s charitable functions and purposes.” (Emphasis mine) There is obviously a huge gray area around what constitutes control. The IRS has decided that a scholarship fund for athletes, wherein distribution of those funds rests solely with the fund managers and not the donors, is compliant. Control rests with the receiving organization, not the donor. [/QUOTE]
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