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| *Ostroff, Fair and Company>>>Government & Non-Profit |
Am i required to become a non-profit org if i wish to only accept only clothing as donations? |
Am i required to become a non-profit org if i wish to only accept only clothing as donations? When you are accepting "Donations", the idea of a tax-deduction is usually in your donor's mind. People can get a deduction on their income tax for donations to a non-profit, monetary or otherwise. So if you want people to be able to claim their donations on their taxes, then yes you should get your organisation incorporated as a nonprofit. If you just want to take the clothes and not provide a tax receipt for your donors, then there is no need to become a non-profit. anyone is able to accept donations, but the "Non-Profit status" is for tax purposes. if your accepting anything for your own personal use that has value doesn't that constitute a profit for you ? weather it's a tangible item or a service you'd be enriched .if you were giving the clothes away after you received them ,then I'd assume it would be a different situation. ??????????? |
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