Tips and Advantages
Items must be new or in good condition to claim a tax deduction. Donating clothing, shoes, housewares, and small size furniture helps Mary’s Center achieve their mission to embrace all communities and to provide high-quality healthcare, education, workplace development, and social services.
Donations to Mary’s Center offer you the opportunity for a tax deduction as Mary’s Center is an IRS-approved 501(c)(3) nonprofit organization. Per IRS Publication 561, all nonprofit organizations are prohibited from assigning values to material donations. That means it will be the donor’s responsibility to determine the item’s fair market value.
Federal Tax ID: 52-1594116
Here are some tips to make your tax preparation easier:
First and foremost, we suggest you consult a tax accountant anytime you have questions about your claim. For example, consider the fair market value of a donated pair of shoes. If you purchased a new pair of shoes for $60 two years ago and have donating them to Mary’s Center, a good estimate for the fair market value of the shoes would be to check the sales price of a similar (or the same) pair of shoes in a thrift store around your area. If the sales price is currently $2.99, then the fair market value for tax purposes is $2.99 (not $60).
If you believe your donation value is over $5,000, and plan to claim a charitable tax deduction for your donation, there may additional forms to be completed by Mary’s Center. Before donating that value, please contact us.
If you plan to claim a deduction of more than $500 for any single item, your tax advisor may request an official appraisal made by a third party appraiser.
Only taxpayers who complete our form by itemizing and providing all the requested details can deduct charitable donations. If you do not normally itemize but made a sizable charity donation, the donation must be greater than the standard deduction.
The information contained on this website does not constitute legal advice or tax advice. Its authors make no claims about its accuracy, completeness, or up-to-date character. The material on this website is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding U.S. federal tax-related penalties, or (ii) promoting, marketing or recommending to another party any tax-related matter addressed herein.