Charitable Contribution
A donation of cash or property to a qualifying tax-exempt organization, deductible as an itemized deduction subject to certain percentage limitations.
Encyclopedia entry: Charitable Contribution
This website uses cookies to ensure you get the best experience on our website. Learn more
Got it!
charitable contribution
Charitable contributions are donations of money or other resources to a 501(c)(3) charitable organization such as environmental advocacy groups or food banks. The key characteristic of these contributions is that they can be deducted from an individual’s taxes unlike donations to other organizations like political action committees (PACs).
[Last reviewed in June of 2021 by the Wex Definitions Team
]
Wex
Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).
Related terms
More legal terms starting with C
Looking for citation help? How to cite law · Citation methodology
See also: Full glossary index
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.