How to Master the Art of Nonprofit Financial Statements
A second issue is whether a donor’s contribution to a nonprofit organization will qualify as a charitable deduction on the donor’s income tax return. For example, churches, schools, and Red Cross chapters are some of the nonprofits that will qualify as tax-exempt and their donors’ contributions will also qualify as charitable deductions on the donors’ income tax returns. Most organizations today have a website and post their financial documents online as it’s the easiest way to disclose their number publicly…