If you itemize your deductions you will
be able to deduct the amount of your donations from your
taxable income next year when you file your taxes. Reducing
your taxable income will reduce the amount of income tax
you will owe.
To be considered eligible for a tax deduction
by the Internal Revenue Service (IRS), charitable giving
(hereinafter "donation") must meet the following
four criteria:
- The giver must make the donation to
a nonprofit designated by the IRS as a 501(c)(3) corporation.
- The giver must intend to make the donation
with no expectation of anything in return.
- The giver may designate how the donation
is used but may not control when the donation is used.
- The giver's right to receive goods/services
in return for the donation reduces the amount of tax deduction
by the value of the goods and services received.
Merrick, Inc., files IRS Form 990 annually
to report information about finances and operations to the
federal government. You may click on the links below to view the 990's for the past three years.
2007 990
2007 990T
2006 990
2006 990T
2005 990
2005 990T