I HAVE A 501 C 3 PRIVATE FOUNDATION WHICH REQUIRES A 5% CONTRIBUTION TO A CHARITY. MY FOUNDATION PORTFOLIO IS VALUED ABOUT $200,000. MAY I DONATE...

How It Works

Get an answer in three easy steps. Here's how it works...

Ask Your Question

1. Ask Your Question

Enter your tax preparation question at the top of this page and click Get An Answer.

Pick Your Priority

2. Pick Your Priority

Tell us how quickly you want your tax preparation question answered.

Get An Answer

3. Get An Answer

Connect with your tax preparer via online chat or telephone call.

Answer

Customer

I HAVE A 501 C 3 PRIVATE FOUNDATION WHICH REQUIRES A 5% CONTRIBUTION TO A CHARITY. MY FOUNDATION PORTFOLIO IS VALUED ABOUT $200,000. MAY I DONATE MORE THAN 5% A YEAR?

Last updated
Barbara Blacklidge
Tax Preparer

Welcome to ExpertHelp.  My name is Barbara, and I am an IRS Enrolled Agent.

If the requirement is 5%, you must donate at least that percentage.  You can donate a higher percentage.

 

Please let me know if I can assist you further.

 

Thank you and best regards,

Barb

Last updated
Customer

If I want, I can donate any amount from my Foundation not necessarily 5%,

Posted
Barbara Blacklidge
Tax Preparer

That's right.

Posted
Customer

There is no penalty?

Posted
Barbara Blacklidge
Tax Preparer

No penalty.

Posted
Customer

CAN YOU REFER ME TO THE SECTION IN THE INTERNAL REVENUE CODE?

I ALSO HANDLE A PUBLIC CHARITY WHICH CONTINUALLY CONTRIBUTES 5% BUT WOULD LIKE TO GIVE MORE.

THANK YOU

Posted
Barbara Blacklidge
Tax Preparer

Give me a few moments.

Posted

quoteTestimonialsquote

About ExpertHelp

ExpertHelp is changing the way you connect with service professionals.

Whether you have a quick question while preparing your taxes, troubleshooting a computer problem, or need to hire an attorney, ExpertHelp is the most convenient and affordable way to connect with the right service professional to get the job done.

ExpertHelp has been in business since 2011, is an A+ Rated Better Business Bureau accredited member, and offers a 100% satisfaction guarantee on every question you ask!

More Tax Preparation Questions...

Ask Your Tax Preparation Question & Get An Answer Now!