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Please donate to the Young
Adult Crisis Hotline and Biblical Counseling Center today and effect the life of an unreached Young Adult. Join
in a valuable partnership in reaching our next Generation today and help impact this next generation with Eternal Life with
the Good News. We are Affiliated with TOPEC (Total Personal Care Foundation) an Internationally recognized nonprofit
that is registered as a 501(c)3 with the Internal Revenue service and can receive donations that are Tax-deductible.
Please press the Donate Button for online secure donations with PayPal!
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Tax Benefits - Frequently Asked Questions
Making the most of your contributions includes not only finding a charity that's
right for you but also knowing about your tax benefits. TOPEC Foundation– are registered with the IRS as 501(c)(3) organizations
and have been given tax-exempt status. To learn more about this and other related topics, please browse our FAQs below.
- What does it mean to be a 501(c)(3) organization?
For charities, this means that they can accept contributions
and offer donors a tax deduction for their gifts. For donors like you, this means your contributions are fully tax-deductible
to the amount allowed by law. The email receipt you receive from TOPEC Foundation does indeed meet all the IRS requirements
as a record of donation.
- What is my tax benefit for charitable contributions?
The chart below gives the deduction for a single
person in each tax bracket making a cash donation of $100. The instructions for the 1040 Form will help determine the exact
amount of your deduction, which will vary depending on your tax bracket and whether you file as a single person or jointly.
Tax Bracket |
Donation Amount |
Benefit |
Out-of-Pocket Cost |
10% |
$100 |
$10 |
$90 |
15% |
$100 |
$15 |
$85 |
25% |
$100 |
$25 |
$75 |
28% |
$100 |
$28 |
$72 |
33% |
$100 |
$33 |
$67 |
35% |
$100 |
$35 |
$65 |
- What counts as a charitable organization? A charitable organization is generally defined as any nonprofit
organization that is incorporated and identified by the IRS as a 501(c)(3) organization. Our organization has been given tax-exempt
status and can accept contributions. NOTE: Not all donations to nonprofits can be claimed as charitable deductions, even if
the organization is registered as a nonprofit. Check with the IRS on whether or not an organization can receive charitable
deductions.
- How can I take a deduction for my donation? To claim a deduction, you will need to fill out a 1040 Form,
which is available through the IRS website, and itemize your deductions on Schedule A. If you fill out the short form or take standard deductions, you
cannot claim your contributions.
- Do I need a receipt for donations I make? The IRS doesn't require receipts for cash donations under $250,
but you should keep donation information on file. Cash contributions of $250 and over require an acknowledgement that must
be sent to the IRS with your tax returns. Every time you make a donation through TOPEC Foundation, that donation is recorded
in your Giving History by the year, a feature that makes itemizing your taxes simple and convenient.
- Do I need any acknowledgement for donations under $250? Though the IRS doesn’t require receipts for
donations under $250, it is a good idea to keep this information on file. Be sure to keep the canceled check, credit card
statement, or email receipt from the organization to which you donate. Always note the donation amount, the date of the contribution,
and the name of the charity.
- For donations over $250, what information does the receipt need? The receipt needs to record the donation
amount, the date the donation was made, and the name of the charity, as well as a written acknowledgement from the organization
of any property or services that you may have received in return for your donation and an estimate of their value. The IRS
should acknowledge an email receipt as an acceptable record of donation, but to be certain, always consult your tax advisor.
When you donate on TOPEC Foundation, your email acknowledgement will provide the amount, transaction date, and the
charity name, all things the IRS wants you to keep a record of when you donate.
You will also have to submit your receipts
to the IRS by the due date for tax returns OR by the date you file your tax returns for the year in which you made the donation,
depending on which one comes first.
- Can I receive a tax deduction for a donation to an overseas nonprofit organization? If you want to take a deduction for your donation, be sure to donate to a charity registered in the United
States. Even though TOPEC Foundation is Internationally Recognized in other Countries it is registered in the United States as a 501(c)(3) organization.
- Can I take a deduction for volunteering my time and services?
You
cannot deduct the value of time or services to a charitable organization, but you can deduct any hard costs associated with
that volunteering, such as the gas or bus fare it costs to get there. For example, if you volunteer in a charitable hospital
and have to wear a uniform, you can deduct the cost of buying and cleaning the uniform. Your friends at the IRS will let you deduct any out-of-pocket expenses you acquire in the course of volunteering.
If you have specific questions, please contact your tax advisor or the
IRS publications on charitable giving.
Disclaimer: TOPEC Foundation does not
warrant or guarantee the accuracy, quality, completeness, or validity of any information it provides. All information has
been obtained from sources believed by TOPEC Foundation to be accurate and reliable. Please consult your tax advisor for specific
tax advice.
____________________________________________________________________________________ "The
Young Adult Crisis Hotline offers immediate emotional support by telephone volunteers trained to help young adults who may
be having relational problems, addictions, have a eating disorder, are suicidal, in emotional distress, or in need of reassurance.
Services are free, confidential, and anonymous." __________________________________________________________________________________
The Young Adult Crisis Hotline and Biblical Counseling Center is available to offer encouragement to you
in the midst of your crisis by Pastor Teddy Awad.
CALL TOLL FREE
1- 877-702-2GOD
(2463)
All contact information will be kept confidential and will not be shared for your own privacy.
1 Peter 5:8-9 Be sober, be vigilant; because your adversary the devil walks about like a roaring lion, seeking whom he may devour. Resist
him, steadfast in the faith, knowing that the same sufferings are experienced by your brotherhood in the world. [more] [subscribe via email]
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by CaRP Isaiah 41:10 Fear not, for I am with you; Be not dismayed, for I am your God.
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