When companies and organizations think about giving back, they often focus on the impact their contributions will have. But another layer to consider is how those donations can lower your tax bill while making a real difference. Deductible donations allow your business to support important causes such as Philabundance, a nonprofit dedicated to combating hunger and food insecurity in the Philadelphia area. Plus, you'll enjoy some practical financial benefits along the way!
Feeding Communities, Saving Taxes
Charitable contributions to organizations like Philabundance can ease the tax burden on businesses, provided you qualify for itemized deductions. Here's the short version:
What is a 501(c)(3)?
These are tax-exempt nonprofits recognized by the IRS. Donations to 501(c)(3) organizations are eligible for tax deductions, as long as you itemize them on your tax return.
What qualifies?
If you receive something in return for your donation, like event tickets or promotional items, only the portion exceeding the item's fair market value is deductible. For instance, a $1,000 donation with a $200 benefit nets an $800 deduction.
Taking advantage of these deductible donations supports important causes and helps your bottom line.
Why Philabundance?
Philadelphia and southern New Jersey are home to a silent crisis: food insecurity. Behind the statistics, there are families daily worrying about their next meal, anxiously hoping for a turn in fortune.
Hunger pangs haunting many communities in nine counties drive Philabundance to support families with healthy meals. Lending a hand to their efforts means you're crafting a roadmap that honors today's necessities and tomorrow's possibilities. The impact is immediate: every dollar you give goes to feeding those struggling to get by.
How to Support Philabundance with Deductible Donations
If you're wondering how your business can contribute, Philabundance offers multiple ways to get involved. Whether you prefer monthly giving, donating food, or exploring corporate sponsorships, there’s an option that fits your goals.
Monthly Giving
Join their Square Meal Society with a recurring monthly gift. It’s an effective method to facilitate their mission while reducing administrative expenditures, thereby ensuring the allocation of resources for continuous hunger relief initiatives.
Stock Donations
Consider donating appreciated securities or stocks. This greatly supports Philabundance and may offer tax benefits as well. For details, contact their giving team at giving@philabundance.org .
Legacy Giving
Make a lasting impact by including Philabundance in your will, trust, or life insurance plan. Legacy gifts sustain their future work, making hunger a challenge of the past.
Corporate Giving
Workplace giving programs allow companies to support through event sponsorships, employee matching, or volunteer grants. Team up with Philabundance to make hunger relief a company-wide mission.
Food Donations
Donating surplus or unsellable (but safe) products is a great way to give back if you're in the food industry. Grocers, distributors and producers can help eliminate hunger in local communities.
A Simple Choice With a Big Impact
When businesses contribute to Philabundance, they’re not just writing a check—they’re investing in change. Every dollar, a can of food, or a stock donation fuels a life-changing mission. The tax advantages amplify the benefits of charitable donations.
Why wait to make a difference? Reach out to Philabundance today at giving@philabundance or call 215-339-0900. Your support converts tax savings into life-changing action for families in need.
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