Frequently Asked Questions
What counts as a charitable
organization?
A charitable organization is generally defined as any nonprofit organization that is incorporated and identified by the IRS as a 501(c)(3) organization. These organizations have been given tax-exempt status and can accept donations. Eagles Wrestling Club is a registered 501(c)(3) organization.
What does it mean to be a 501(c)(3)
organization?
For organizations, this means that they can accept donations and offer donors a tax deduction for their gifts. For donors like you, this means your donations could be fully tax deductible.
How can I take a tax deduction for my
donation to the Eagles Wrestling Club?
To claim a tax deduction, a tax payer must complete a Schedule A Form along with the 1040 Form and itemize deductions. If you do not complete a Schedule A, then you can not claim your donations. If you complete the 1040 Short Form or take the standard deduction, you can not claim your donations to the Eagles Wrestling Club.
Do I need a receipt or acknowledgment
for my donations?
Yes, the IRS now requires the donor to maintain a bank record or a written communication from the organization to which the taxpayer donates. Always note the name of the organization, the donation amount, and the date of donation.
What information will the
Eagles Wrestling Club provide to me when I donate?
When you donate to the Eagles Wrestling Club, you will receive a Donation Receipt Form that will provide the amount, date of donation, our name, and additional information the IRS requires. Each time you make a donation to the Eagles Wrestling Club, the donation information is recorded and saved on our books and records.
Disclaimer – The Eagles Wrestling Club is not a qualified tax advisor nor does it guarantee any tax information provided. Tax information has been obtained from sources such as the IRS, which is believed by the Eagles Wrestling Club to be accurate and reliable. Always, please consult your tax advisor for specific tax advice.