A charity is a nonprofit organization that devotes all its resources to its own charitable activities—most commonly education, promotion of health, relief of poverty or distress, or religious purposes. None of its income may be for the personal benefit of any member or trustee of the organization. Charities are exempt from federal income tax under Section 501(c)(3) of the IRS code, and can receive tax-deductible gifts  The IRS code on tax deductible giving limits the amount that is deductible for annual contributions based upon your adjusted gross income. There may be certain situations where modified adjusted gross income may take precedence. If you exceed the annual limitations, the excess deduction can generally be carried forward for up to five years. 
Your annual charitable contributions for the year can be totally deductible if they’re under 20% of your adjusted gross income. Any excess gifts greater than 20% of your adjusted gross income, the tax deduction limitations based the type of personal property gifted and the type of charitable organization receiving the gift. However the total tax deduction can’t exceed 50% of your adjusted gross income for the year. The 50% limit applies to contributions to public charities like most churches, hospitals   Read more…