US Non-Profit Tax Law change in time of covid19

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US Non-Profit Tax Law change in time of covid19

Brian M Hamlin

Dear Board of OSGeo, stakeholder and supporters:

  I am just reading about an obscure but important provision in US Tax Law after the recent US Stimulus Bill, signed into law very recently.  No details yet, but this quote from a different tax-exempt entity in a fundraising letter:

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The Act provides that taxpayers can take a $300 deduction for charitable contributions even if they don't itemize; and that, for those who do itemize, they can deduct up to 100% of adjusted gross income, essentially eliminating their entire income tax burden!

--

  more details as they emerge. Thank you for your work supporting Open and Non-Aligned access to mapping development.

  best to all from Berkeley, California    -Brian M Hamlin, MAPLABS



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Re: US Non-Profit Tax Law change in time of covid19

Michael Smith

Brian,

 

One thing to be clear on is this is for 501c3 organizations, that can received tax-deductible donations. OSGeo is a 501c4. We can take donations but they are NOT tax deductible.

 

Mike

 

 

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Michael Smith

OSGeo Treasurer

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From: Board <[hidden email]> on behalf of Brian M Hamlin <[hidden email]>
Date: Monday, April 6, 2020 at 3:40 PM
To: osgeo-board List <[hidden email]>
Subject: [Board] US Non-Profit Tax Law change in time of covid19

 

Dear Board of OSGeo, stakeholder and supporters:

  I am just reading about an obscure but important provision in US Tax Law after the recent US Stimulus Bill, signed into law very recently.  No details yet, but this quote from a different tax-exempt entity in a fundraising letter:

--

The Act provides that taxpayers can take a $300 deduction for charitable contributions even if they don't itemize; and that, for those who do itemize, they can deduct up to 100% of adjusted gross income, essentially eliminating their entire income tax burden!

--

  more details as they emerge. Thank you for your work supporting Open and Non-Aligned access to mapping development.

  best to all from Berkeley, California    -Brian M Hamlin, MAPLABS



_______________________________________________ Board mailing list [hidden email] https://lists.osgeo.org/mailman/listinfo/board


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