Companies donate merchandise and make financial donations to K.I.D.S. for many reasons, and the U.S. tax code recognizes the value of these contributions as well.
K.I.D.S is a tax-exempt charitable organization under Section 501(c)(3) of the Internal Revenue Service code. Our tax ID is 13-3300271. K.I.D.S. does not dispense tax advice and companies should consult their tax advisor for professional guidance, but for many companies and individuals, both product donation and financial gifts to K.I.D.S. may offer a tax benefit.
Section 170(e)(3) of the U.S. Internal Revenue Code permits regular ("C") corporations to deduct the lower of: 1) the cost of the products, plus one-half of the difference between the cost and the fair market selling price, or 2) twice the cost. Section 170(e)(3) also permits "S" corporations or a partnership company to earn a straight cost deduction. |
