Frequently Asked Questions
Are donations tax deductible?
Yes. According to the Internal Revenue Service, if you donate to a 501(c)3 organization, like Opportunity Village, your charitable donations are tax deductible.
Whether you donate cash or other property, you must do so before the end of the tax year to claim a deduction. And if you donate something other than cash, you can generally deduct the fair market value of that property.
Can I donate my inheritance to charity?
Yes. Whether you’ve received money, real estate, art, or jewelry, you can use your inheritance to donate to charity.
Money: Make financial donations by check or credit card.
Goods and personal property: Donate items in excellent or new condition. Keep track of the items you donated for your tax records.
Vehicles: If you donate a vehicle (car, truck, boat, or other vehicle), you’ll need to transfer the vehicle’s title to the charity.
Other property: Items such as art, jewelry, stocks, real estate and patents may need an expert appraisal.
How can I add your charity to my will?
Making a bequest may seem complicated, but it’s actually quite simple. With the help of a financial advisor, you can include language in your will or trust specifying a gift be made to Opportunity Village as part of your estate plan.
You can make your bequest in several ways. You can: