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Re: [vox] [fwd] LUGOD Treasury Position And Financials
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Re: [vox] [fwd] LUGOD Treasury Position And Financials

On Sat, Jul 25, 2009 at 4:44 PM, Tony Cratz<cratz@hematite.com> wrote:
> jimbo wrote:
>> Forgive my ignorance but does this mean that this is a social and non profit
>> organization?
>> Lets say I had $50,000.00 I wanted to donate to Lugod.  Since Lugod is a
>> 501(c)7 does that mean this I can write off my donation on income taxes?
>        http://www.t-tlaw.com/lr-06.htm
> <quote>
> 3. In contrast to 501(c)3 organizations (charities), contributions to a
> 510(c)7 social and recreation club are not deductible.
> </quote>
>        That should answer your question.

Yep.  The non profit status for a 501(c)(7) means that the org doesn't
pay taxes, but donations are only tax deductible to a 501(c)(3).
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