A shock went through the nonprofit community last week when it was mistakenly believed that President Obama was moving to restrict incentives for charitable giving (which would not be surprising given President Obama’s track record). And although it now appears that this is not the case, leaders in the nonprofit sector are still concerned. The …
Posts Tagged: charitable deductions
Can I Raise Charitable Funds for My Friends?
We are often asked whether 501(c)(3) organizations can be established to raise funds for a particular person or persons. The answer is no. This was reconfirmed by the IRS last week with the release of a letter ruling reviewing an organization established to support three special needs children. The IRS ruled that it could not …