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Why donate to a nonprofit organization?

Date: April 20, 2024 Time: 08:19:06

Making a donation to a non-profit organization (NGO) is a wise move. Giving a small part of your money or assets can have a strong impact. You will help people who need it to get out of their problems or improve their situation. But there is much more. These contributions can be deducted in the Income Tax return, so you not only do good work but you can save money on taxes.

Donation to a non-profit organization

A donation to an NGO is a way to show your solidarity. You help non-profit associations finance themselves to carry out all types of projects. From reducing inequalities to responding to a disaster, your help can make a difference. You can do it in several ways:

Periodically or punctually. You deliver a certain amount whenever you want or for particular initiatives. Sale of solidarity products. They are manufactured by some associations in order to raise funds. Solidarity will. It consists of leaving all or part of your inheritance to an association. Donation in kind. From food to clothing, these are deliveries of essential products.

Tax incentives: deductions

To make donations attractive, different tax incentives have been established. The most interesting are the deductions in the income tax return. According to law 49/2002, of December 23, on the tax regime of entities without lucrative fines and tax incentives for patronage, there are several options.

People can deduct 80% of a donation up to 150 euros and above that the percentage is reduced to 30%. Additionally, if you have been collaborating with the same entity for more than three years, an additional 5% is added. In the case of companies, the reduction is applied to corporate tax in this way:

If you have collaborated for less than three years, 35%. More than three years, 40%.

Contribute to a more just and equal society

Beyond reducing the tax burden, a donation to an NGO allows you to improve society. The work of associations consists of helping the most disadvantaged in multiple ways. They can give them shelter, food, clothing or training to move forward with their lives. If you collaborate, you carry out a charitable act that can change things.

Likewise, there are many non-profit associations to donate to. You just have to choose the one that best aligns with your values ​​and goals. There is even the possibility that you participate in them as a volunteer, an interesting way to learn about them in detail.

With a donation to a social project or non-profit organization, you make a great contribution. You give a small portion of your money, in a selfless way, to whoever may need it. This is one of the best ways to help make society more equal. And remember that there is the possibility of deducting part of the amount you deliver. Dare to change the world!

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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