Tax Considerations of Giving to an IRS-Designated Nonprofit Organization
At the Tranquil Shores Foundation, a 501(c)(3) nonprofit organization, we depend on the love and generosity of family, friends, and those who support our mission to provide funding for those who cannot afford drug addiction recovery services. We offer scholarships funded through private donors like you, and we welcome personalized gifts, as well.
We welcome you to contact us to discuss how to best utilize your gift to make a difference.
No act of kindness, no matter how small, is ever wasted.Aesop
You can file for a deduction on your taxes when you support any IRS-designated 501(c)(3) not-for-profit organization or charity with money or goods. That means when you donate the Tranquil Shores Foundation’s scholarship funds, you make a tax-deductible donation that lowers your taxable income.
The Tranquil Shores Foundation will send a confirmation letter for all gifts and contributions once we receive your gift. This receipt will include language stating the date you made your gift, the amount of the gift, and what kind of gift was made. You should file this receipt somewhere where you’ll remember it for when it comes time to file your tax return. Make sure to file a Schedule A of IRS Form 1040 or 1040-SR to document the charitable donation or gift.
We accept the following donation types:
- Cash Donations
- In-Kind Contributions
- Real Estate
- Multi-Year Pledges