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      501(C)3 DOCUMENTATION AND FILING
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Tax 501c3 - Frequently Asked Questions

KIDS KINGDOM FOUNDATION (KKF) is registered with the IRS as a 501(c)(3) organization and has been given tax-exempt status. To learn more about this and other related topics, please browse our FAQs below.

1. What does it mean to be a 501(c)(3) organization?
2. What is my tax benefit for charitable contributions?
3. What counts as a charitable organization?
4. How can I take a deduction for my donation?
5. Do I need a receipt for donations I make?
6. Do I need any acknowledgement for donations under $250?
7. For donations over $250, what information does the receipt need?
8. Can I receive a tax deduction for a donation to an overseas nonprofit organization?
9. Can I take a deduction for volunteering my time and services? 

1. What does it mean to be a 501(c)(3) organization?
   For charities, this means that they can accept contributions and offer donors a tax deduction for their gifts. For donors like you, this means your contributions are fully tax-deductible to the amount allowed by law. The email receipt you receive from KKF does indeed meet all the IRS requirements as a record of donation.
   
    

2. What is my tax benefit for charitable contributions?
   The chart below gives the deduction for a single person in each tax bracket making a cash donation of $100. The instructions for the 1040 Form will help determine the exact amount of your deduction, which will vary depending on your tax bracket and whether you file as a single person or jointly.

3. What counts as a charitable organization? A charitable organization is generally defined as any nonprofit organization that is incorporated and identified by the IRS as a 501(c)(3) organization. These organizations have been given tax-exempt status and can accept contributions.
   
   NOTE: Not all donations to nonprofits can be claimed as charitable deductions, even if the organization is registered as a nonprofit. Check with the IRS on whether or not an organization can receive charitable deductions.
   
   CHARITABLE EVENTS: For a charitable event, only a portion of the ticket value is deductible. The portion that is NOT deductible is the value of the goods or services that you receive (e.g. dinner, entertainment, etc.). The rest is deductible. For example, if you pay $150 for an event, and the benefits received are worth $60, the tax-deductible amount is $90. The charity hosting the event will be able to identify the exact value of the benefits for each event.
   

9. How can I take a deduction for my donation? To claim a deduction, you will need to fill out a 1040 Form, which is available through the IRS website , and itemize your deductions on Schedule A. If you fill out the short form or take standard deductions, you cannot claim your contributions.
   
    
10. Do I need a receipt for donations I make? The IRS doesn't require receipts for cash donations under $250, but you should keep donation information on file. Cash contributions of $250 and over require an acknowledgement that must be sent to the IRS with your tax returns.
    
     
11. Do I need any acknowledgement for donations under $250? Though the IRS doesn’t require receipts for donations under $250, it is a good idea to keep this information on file. Be sure to keep the canceled check, credit card statement, or email receipt from the organization to which you donate. Always note the donation amount, the date of the contribution, and the name of the charity.
    
     
12. For donations over $250, what information does the receipt need? The receipt needs to record the donation amount, the date the donation was made, and the name of the charity, as well as a written acknowledgement from the organization of any property or services that you may have received in return for your donation and an estimate of their value. The IRS should acknowledge an email receipt as an acceptable record of donation, but to be certain, always consult your tax advisor.
    
    When you donate to KKF, your email acknowledgement will provide the amount, transaction date, and the charity name, all things the IRS wants you to keep a record of when you donate.
    
    You will also have to submit your receipts to the IRS by the due date for tax returns OR by the date you file your tax returns for the year in which you made the donation, depending on which one comes first.
     
13. Can I receive a tax deduction for a donation to an overseas nonprofit organization?  If you want to take a deduction for your donation, be sure to donate to a charity registered in the United States. That doesn't mean you can't give to an organization that has an international scope, such as CARE or Save the Children. You just have to make sure the charity is registered in the U.S. – as both of these charities are – if you want to take the deduction.
    
      
14. Can I take a deduction for volunteering my time and services?
    You cannot deduct the value of time or services to a charitable organization, but you can deduct any hard costs associated with that volunteering, such as the gas or bus fare it costs to get there. For example, if you volunteer in a charitable hospital and have to wear a uniform, you can deduct the cost of buying and cleaning the uniform. Your friends at the IRS will let you deduct any out-of-pocket expenses you acquire in the course of volunteering.
    

 Administrator Services:    *****Important*****
    Contracts, Proposal, Grant procurements -
You may apply with the state to become a non-profit organization. If approved, you will be given a tax status (FIN) and the ability to accept both public, private, state and federal funding. As theAdministratorof this program, you are allowed 15% of the contributions as administrative fees. So, if approved and you do obtain funds, in this example, if you took in $100,000 (collectively), you would be granted $15,000 as the administrator. These funds can be used to either pay yourself for your work and/or those who work with you. The remaining funds of $85,000 in this example would have to go toward the organization that you have been approved for.

In using the net funds($85,000 in this example), is deducted the cost of operational costs such as computers, office space or any other costs relating to your non-profit organization. The Administrative allowance is not considered in the deductions, but you must personally report your salary (if you accept the allowed salary) as the Administrator as personal income to the IRS by way of quarterly income statements. 

Consideration that you would qualify for a Non-Profit agency by your entity description, then go through the registration process. After that, to obtain funds you will have to advertise in some type of media, such as news papers, radio or local TV to locate your market donations. In many instances these types of media will assist you at a nominal fee or at no charge. This is your audience base and you just have to visit your local radio stations, papers and TV providers and present them with your status of a non-profit organization and they will most likely assist you.

KP Business services can be of services through any business process, choose  us, as your Administrator to service you in establishing your business entity.

 the Word..Good News 

After obtaining your non-profit status, you will find that your local news channel will broadcast your cause at no charge. News stations do not charge for information or for broadcasted news and an organization as you have presented is "news worthy" and therefore the producers of your local media will air your intentions. If you meet with them in person, they may even interview you on TV and add a link to your website (considering that you have one), or email address or phone number. Local news stations love to air this kind of effort and will assist you as it makes them look good.

You may also look into "Grant Writing", which obtains money from the federal level. If you need help with that, do not hesitate to contact me and we can go further into  that.