Beyond an investment from your heart, your donation can also be a financial benefit come tax time.

Here are some considerations to ensure you get the maximum benefit from your generous donation:

  • As a nonprofit corporation, The Ronald McDonald House of Scranton is classified by the Internal Revenue Services as exempt under IRC Section 501(c)(3) and as a public charity under IRC Section 509.
  • Keep records of your donations, including importantly, receipts or letters from RMH of Scranton acknowledging receipt of your donation.
  • Donations of more than $250 must be supported by record of payment from your bank. (Cancelled check, bank statement, etc.)
  • Generally, no more than 50 percent of your adjusted gross income can be deducted. If you donate more, carry that undeductable amount over into the next year.
  • If you volunteer, you cannot deduct the value of your services, but you may be able to deduct some expenses if they are:
    • Not reimbursed through your employer or anyone else
    • Directly connected with the services you performed
    • Expenses you had only as a result of your volunteer work
    • Not personal, living or family expenses

We recommend you contact a tax professional for more information.

In addition to donations from individuals, the following ways of giving also qualify for maximum tax benefits.

 

Private Foundations

As a public charity, RMH of Scranton is qualified to receive grants from private foundations. A grant to RMH of Scranton will help your foundation satisfy its annual distribution requirements while helping RMH of Scranton accomplish its mission of serving children.

 

Donations of Securities

In addition to donating cash to RMH of Scranton, individual donors may make gifts of publicly traded securities. The donor is not taxed on any gain in the property, and the donor may deduct the fair market value of the gifted securities against other income (subject to certain limitations).

Donors should seek the advice of a professional tax advisor. The Planned Giving department of RMH of Scranton will happily assist donors and advisors in structuring their gifts.