Re: The Center for Photographic History and Technology

Thank you.
 
I know one person who is in charge of a Tax free organizationin the US, they teach computer skills such as Excell and the likes... really nice group of people. I could ask them I suppose, but it is difficult to ask people (even friends) details about their money.
 
I thought it is an important thing to mention however as others might not know about it either.
 
Thanks again for your answer....
 
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Scott Small <toxwander2002@yahoo.com> wrote:

> As I said, I do not really understand the 501c
> thing, could you explain what exactly is so good
> about it and why you are so happy you got it?
>
> Serge

In the US, getting 501c status means that donors can
deduct the amount of their donations from their income
for tax purposes. At the very least, this improves the
bang for the after-tax buck. Since the tax system here
is also a step-function wrt income, there are places
that a subset of the population at the edge of a step
might find that donating $100 would save them, say,
$130 in taxes. So there is more incentive to donate to
a 501c. Also because the accounting rules are
different, there is a perception that 501c groups
waste less of the donation (not actually true it
seems, but that is the perception). It also affects
the rules that would apply to corporate donors and
state agencies.

Hope this answers your question!

Tox

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Received on Fri Jul 29 03:21:31 2005