Posts Tagged: private foundation

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25 Days of Giving: Quick Rule-of-Thumb on Charitable Deduction Limits

The limits on federal income tax charitable deductions are quite high, but they do exist. Keep this in mind as you make any year-end donations. The specific limitations are complicated, and there are numerous exceptions. The limits are based on your AGI (adjusted gross income). AGI is an individual’s total gross income minus specific deductions. A quick… Read more »

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Nonprofit Talk: What’s the Difference Between a Public Charity & a Private Foundation

Since 1968, every Section 501(c)(3) organization is classified by the IRS as either a private foundation or a public charity. This classification is crucial for at least two reasons anyone considering forming a nonprofit and anyone considering making a significant donation to a nonprofit. First, private foundations are subject to much stricter regulations than public… Read more »