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GREEK CULTURE FOUNDATION
A Non-Profit Organization
SUPPORT THE
GREEK CULTURE FOUNDATION
METHODS OF PARTICIPATION
v
Become a member.
v
Order the Greek Events on a CD.
v
Donations.
v
Order Greek History on a CD.
v
Advertise your business, organization,
on GCF web sites.
v
Order Web Hosting, Domains, Internet
Connections, etc.
v
Sponsor an artist, poet, writer by
showing their work online.
ABOUT THE
DONATIONS
CORPORATE DATA
LEGAL STATUS Federal:
The Fresno Free College Foundation is
exempt from federal income tax under
Section 501(c)(3) of the Internal
Revenue Code.
Donors may deduct contributions to the
Foundation as provided in Section 170 of
the Code. Bequests, legacies, devices,
transfers or gifts to the Foundation are
deductible for federal estate and gift
tax purposes under Sections 2055, 2106
and 2522 of the Code.
State:
The Fresno Free College Foundation is
incorporated under Section 9501 of Part
1 of Division 2 of Title 1 of the
Corporations Code of the State of
California, also known as the General
Non-profit Corporation Law of
California.
The Foundation has also satisfactorily
complied with the requirements of the
Attorney General, Registry of Charitable
Trusts, and the California Tax Board has
ruled the Foundation exempt under the
Revenue and Taxation Code, Section 23701
(d).
CONTRIBUTIONS AND INCOME
TAX
There are two ways for an individual to
make a contribution to the Foundation
and reduce adjusted gross income. This
reduction may bring a taxpayer into a
lower tax bracket.
1. Cash Gifts. This amount is entered as
"Contributions" in Schedule A of Form
1040. This cash contribution is
tax-deductible.
2. Gifts of Assets. In this type of
contribution, the individual gets credit
for the contribution at its current
market value, and does not pay capital
gains tax on the asset appreciation.
Assets may be stock certificates,
paintings, books, real estate etc. An independent
appraisal sets the value of the asset
and that value is recorded as a gift
under "contributions" in Schedule A of
Form 1040. |
