[Finance] Rent as a charitable donation

[Lokkju Brennr]

My understanding is that phrase has a some very specific meanings.
Otherwise, it seems overly broad...  just as an example, if I expect
to ever use the swimming pool at a YMCA, does that mean I can make a
(tax-deductible) contribution towards pool repair?

Loki

On Tue, Mar 8, 2011 at 10:02 AM, Jeff Cotten <omegix at gmail.com> wrote:
>
> MrFranceIsBacon found this on page 6 of the same IRS document
> http://www.irs.gov/pub/irs-pdf/p526.pdf
>
> "Contributions you cannot Deduct
> [...]
> 3. The part of a contribution from which you receive or expect to receive a
> benefit"
>
> It sounds like that prevents the landlord from donating the amount you'll be
> paying to him.
>
> Omegix
>
>
>
> On Tue, Mar 8, 2011 at 10:52 AM, Lokkju Brennr <lokkju at gmail.com> wrote:
>>
>> Right - but your landlord can legally make a cash donation to the
>> charity for the rent amount each month, that you pay back to them as
>> rent, as long as money actually changes hands, correct?  i.e., they
>> write you a check for tax-deductible contribution of $1000, you write
>> them a check for rent of $1000, etc - or is your landlord prevented
>> from making tax-deductible contributions?
>>
>> Loki
>>
>> On Tue, Mar 8, 2011 at 8:39 AM, Jeff Cotten <omegix at gmail.com> wrote:
>> >
>> >
>> > Synopsis:  Rent is not a tax-deductible benefit when donated to a 501c3
>> > charity.
>> >
>> > Thank you to MrFranceIsBacon from Makers Local 256 who brought this to
>> > our
>> > attention.
>> > One of the ideas that Makers Local (Huntsville, AL) had when we started
>> > was
>> > to attain 501c3 charity status,
>> > and then convince local building owners to let us set up there
>> > rent-free,
>> > while they wrote the Fair Market Value (FMV) off
>> > as a charitable donation on their taxes.
>> >
>> > There are tax laws preventing this, it is considered Partial Interest in
>> > Property.
>> >
>> > Ref:  Page 9, Example 1:  http://www.irs.gov/pub/irs-pdf/p526.pdf
>> >
>> >
>> > I've added an entry on the wiki about this here:
>> > http://hackerspaces.org/wiki/Finances#Tax_Laws
>> >
>> >
>> > Omegix
>> > Makers Local 256
>> >
>> >
>> > _______________________________________________
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>> > Finance at lists.hackerspaces.org
>> > http://lists.hackerspaces.org/mailman/listinfo/finance
>> >
>> >
>
>
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