--- In FairfieldLife@yahoogroups.com, "sparaig" <[EMAIL PROTECTED]> wrote: > > --- In FairfieldLife@yahoogroups.com, "shempmcgurk" <shempmcgurk@> wrote: > > > > --- In FairfieldLife@yahoogroups.com, "sparaig" <sparaig@> wrote: > > > > > > --- In FairfieldLife@yahoogroups.com, Rick Archer <groups@> wrote: > > > > > > > > on 8/18/06 11:10 AM, sparaig at sparaig@ wrote: > > > > > > > > > > If you want money spent for a specific project, you have to > > specify that it is > > > > > being spent for > > > > > that project. Otherwise, a non-profit can spend it on anything > > it wants as > > > > > long as it is still > > > > > in the charter for it's existence. > > > > > > > > > Ed Beckley used to do that. He would see a road on campus that > > needed > > > > fixing, get bids from contractors, then donate money to fix the > > road, > > > > specifically ear-marked for that purpose. The money would > > disappear and the > > > > road wouldn¹t be fixed. > > > > > > > > > > How many times did he do this? And if he really wanted it fixed, > > why didn't he pay the > > > contractors directly? > > > > > > > > Because he wouldn't have been able to get the charitable tax > > deduction for it. > > > > Not so sure about that.
I am. You have to be an official charity in order to get a tax deduction for money you give to that charity. Unless Ed Beckley's company was an official charity (it wasn't, it was his own for-profit business), it wouldn't be able to do work that was deductible. > > > And he wouldn't have been able to pay for it himself and use it as a > > deduction for his own business because that would have been fraud. > > > > > Depends on when and how it was done. While consultants can no longer deduct their full > fee, I believe that service organizations can deduct a lot more when doing work for non- > profits. ...then ear-marking for the work to be done by MIU would have allowed him to deduct 100% of what he gave. To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
