Do something wonderful for The Hinsdale Central Foundation and get a break on your taxes, too!
When you give to The Hinsdale Central Foundation you may deduct contributions representing up to 50% of your adjusted gross income if you itemize your tax return. Below is some of the information the IRS provides on making tax deductible contributions. Note this is only a guide, and is not meant to be comprehensive.
- Gifts to The Hinsdale Central Foundation are deductible in the year in which they are paid
- You must itemize on your taxes to deduct donations
- To claim a donation of $250.00 or more, retain your written receipt from The Hinsdale Central Foundation.
- Property donated to The Hinsdale Central Foundation may generally be deducted at the fair market value of the property at the time of the contribution. (See further information in these web pages.)
- If you receive a gift or another type of benefit in return for your contribution, the donation may only be deductible to the extent that it exceeds the value of the gift or benefit.
- When goods or services are involved, a payment to The Hinsdale Central Foundation qualifies as a deductible gift only to the extent that the payment exceeds the fair market value of the goods or services you receive in return for that gift.
Please consider consulting your attorney and/or tax advisor when planning a donation to the Hinsdale Central Foundation.