If your tax-exempt organization is not required to file with the IRS, you may be wondering how to manage your donations and tax deductions. This is where Daffy, a Donor-Advised Fund (DAF), can be a great option for you.
Daffy's database is populated with every US-based not-for-profit organization in good standing with the IRS, including many US-based religious organizations. If your organization is not listed, Daffy can enter your information directly. You can search for a charity on Daffy using their name or Tax ID number. If you can’t find your organization, you can reach out to Daffy's support team who may be able to help.
Daffy simplifies the process of managing donations by listing only organizations in good standing with the IRS in their non-profit directory. This allows you to seamlessly research and donate in one place.
If you contribute certain non-cash assets, such as cryptocurrencies and securities, that exceed $500 in value, you will be required to file an IRS 8283 Form with your federal income tax return. Daffy can help you manage these contributions and ensure you meet all IRS requirements.
With Daffy, you also do not need to worry about capital gains taxes for any assets that you contributed and were sold. However, it's important to note that donations to charities from a DAF do not qualify for a tax deduction.
In conclusion, if your tax-exempt organization is not required to file with the IRS, Daffy can be a great option for managing your donations and ensuring you meet all tax requirements. Join the Daffy community today and make giving a habit.