Donation Receipt For Specific Purpose In Ohio
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This means if your Ohio state tax is equal to or greater than your donation, up to $750, your donation ultimately costs you nothing. If you file Married Filing Jointly, you can receive a credit for $1,500 on your joint state income tax return.
A donation which is received for a specific purpose is a capital receipts. This has to be utilized only for the specific purpose. This is a capital receipt.
There is no cap to donations to SGOs across the state. Any amount may be donated to the SGO, however, only $750 per individual or entity may be claimed as a tax credit each year. If you and your spouse file jointly, you may claim $1,500 on your joint state income tax return.
If donation is received without a specific purpose, it is a revenue receipt. But if donation is received for a specific purpose, this is considered as capital receipts and all expenses incurred towards the specific purpose should be set off from this receipt.
A Scholarship Gran�ng Organiza�on (SGO) is a non-profit 501(c)(3) organiza�on that receives contribu�ons from donors and grants educa�onal scholarships to eligible students in Ohio. Individuals and en��es that contribute to the Seton Cincinna� SGO can receive a tax credit.
Ohio law allows a state income tax credit for monetary contributions made to the campaign committee of a candidate for statewide office or member of the General Assembly up to an annual limit of $50 for single filers and $100 for joint filers.
There is no cap to donations to SGOs across the state. Any amount may be donated to the SGO, however, only $750 per individual or entity ($1,500 if married filing jointly) may be claimed as a tax credit on your Ohio income tax return. NOTE: the Ohio SGO credit is nonrefundable.
The receipt should include the organization's name, the date of the event, and the names and values of each item the attendee purchased. End-of-year donation receipts.
Craft a concise, direct donation message by clearly stating your cause, the impact of donations, and specific calls-to-action with emotional language. For example: "Your $25 gift provides a week of meals for a family in need. Text FEED to 55555 to More Meals today!"
Example 2: Individual Acknowledgment Letter Hi donor name, We're super grateful for your contribution of $250 to nonprofit's name on date received. As a thank you, we sent you a T-shirt with an estimated fair market value of $25 in exchange for your contribution.
