How to make a donation?
When you click on the DONATE button above:
- you will be sent to Paypal’s secure website where you can choose the amount you would like to donate and whether you want to make it a monthly donation or a one-time donation.
- You can choose to use your Paypal account, if you have one or you can choose to pay with your debit card or a credit card.
- Finally, there is a section labeled “List a specific use for your donation”. This is where you can choose to make your donation restricted for a specific purpose as described below. If no notes are listed in this section, IJB will consider your donation as ‘unrestricted’.
Your donations to IJB help to keep this website open to everyone wanting and needing it. Donations are used to help cover the hosting fees for the website and renewing the domain name as well as other costs associated with keeping this organization functional and useful to those who need it.
How do donations to a 501(c)(3) work?
Only people who itemize their deductions can deduct their donations to 501(c)(3) organizations. Though anyone can elect to itemize, it’s not always in your best interests. You should itemize only if your itemized deductions, including charitable donations, exceeds the amount of your standard deduction. When you itemize, you have to report the donations on Schedule A. After totaling your itemized deductions, you have to report the total on your Form 1040 tax return.
Each year, your deduction for your charitable contributions cannot exceed 50 percent of your adjusted gross income (AGI). In addition, if you’re donating appreciated property, such as stocks or land, you’re limited to a 30 percent of your AGI for donations to most organizations.
State and federal laws require that donations be used to further the purpose of a nonprofit organization and never paid out as dividends to directors or staff. However, donors are allowed to place additional restrictions on the use of their contributions. These are known as restricted donations and can be either temporary or permanent.
Temporarily restricted donations can be either time-restricted or purpose-restricted. Examples of temporarily restricted donations would be a contribution of $50,000 to cover an operating budget for 3 years, or to fund yearly conferences for 5 years. Once the time period passes or the purpose is achieved, the funds become unrestricted and can be used for any purpose consistent with our mission.
Permanent restrictions typically utilize interest earned on the donation to provide support indefinitely. An example might be a donation of $500,000 with the annual interest used for general purposes.
When you click on the DONATE button, there is a section labeled “List a specific use for your donation”. This is where you can choose to make your donation temporarily restricted for a specific time or purpose or permanently restricted as described above. Please label your donation as temporarily or permanently restricted and any specific purpose for the donation. If no notes are listed in this section, IJB will consider your donation as unrestricted.