One of the greatest benefits to be derived from Clan Scott Society's recent recognition by the Internal Revenue Service as a 501(c)(3) tax exempt organization is that donations made to Clan Scott are tax deductible. This means that as a public charity donations of cash for scholarships, as well as officer, commissioner, and convenor unreimbursed out-of-pocket expenses incurred in representing the Clan Scott Society, may be treated as deductible charitable contributions for federal income tax purposes.
There is a limit on the amount that can be deducted in any one year. The total of all charitable contributions that can be written off cannot exceed 50% of the donor's adjusted gross income. To take a deduction for a cash contribution of less than $250, you need to keep a copy of your bank record showing the name of the organization or a dated receipt or letter from the tax exempt organization acknowledging the amount of the contribution. For contributions of $250 or more, whether made in cash, kind, or as unreimbursed expenses, the organization's written acknowledgment is needed describing the donation, identifying the date it was made, and stating whether any goods or services were given in exchange for the contribution, and if so, a good faith estimate of the value of such goods or services.
To help making both cash and out-of-pocket charitable contributions to Clan Scott Society, and to simplify the process by which the required acknowledgment is generated, the Clan has produced a one-paged donation form. It is designed to be easy for the donor to prepare and submit to the Clan. To make a tax-deductible donation, all you have to do is fill in the requested information and mail it to Clan Scott Society, P.O. Box 13021, Austin, Texas 78711-3021. If your donation satisfies the tax exempt purposes for which Clan Scott Society was established as a 501(c)(3) organization, the acknowledgment appearing at the bottom of your donation form will be signed and the whole form will be returned for your tax records.
This donation form is available on the link below or by sending a request for a copy to the Clan Scott Society address in the paragraph above. Feel free to make copies of of the form. For more information regarding what records you will need to document and value your non-cash charitable contributions, refer to IRS Publication 526. A link to this publication on the IRS website is provided below.
Clan Scott Society Donation Documentation Form
in PDF format (form only)
IRS Publication 526, Charitable Contributions
IRS Publication 562, Charitatable Contributions and other items you may find useful
Make a Clan Scott Society Online Donation using credit/debit cards via PayPal
Format Last Updated 7July2013 dms (c)2012-2013 Clan Scott Society, Inc.