Tax Deductible In-Kind Donations - Tax Receipts, Deductions, IRS Guidelines/title> <meta name="description" content="Tax Deductible In-Kind Donations - Tax Receipts, What is deductible, what is not deductible?. Donate to help a child with diabetes." /> <meta name="keywords" content="diabetes help child irs IRS guidelines tax deductible in-kind donations tax receipts what is deductible what is not deductible diabetes supplies insulin pumps insulin pump supplies donate medtronic minimed pump cozmo insulin pumps smiths medical" /> <meta name="author" content="diabetes charities for kids" /> <meta http-equiv="Content-Type" content="text/html; charset=utf-8" /> <meta http-equiv="Content-Style-Type" content="text/css" /> <link href="../css/style-newheader.css" rel="stylesheet" type="text/css" /> <link href="../css/layout-newheader.css" rel="stylesheet" type="text/css" /> <style type="text/css">  </style> </head> <body id="page3"> <div class="main"> <div id="header"> <ul> <li class="m6"><a href="http://www.ipump.org" alt="iPump Home Page">home</a></li> <li class="m2"><a href="../info/who.html" alt="About iPump">Who we are</a></li> <li class="m2"><a href="../info/mission.html" alt="Our Mission">our mission</a></li> <li class="m2"><a href="../info/programs.html" alt="our programs">programs</a></li> <li class="m2"><a href="../info/diabetes.html" alt="diabetes information">diabetes</a></li> <li class="m2"><a href="http://www.ipump.org/blog/" alt="iPump blog">blog/news</a></li> <li class="m2"><a href="../info/help.html" alt="help a child with diabetes">Donate</a></li> </ul> <p><br /> <p align="center" class="style2"><span class="style1">iPump</span> ...<em> caring for children with diabetes since 2006</em></p> </div> <div id="content"> <div class="indent-main"> <div class="row1"> <div class="indent-row-1"> <p align="right"><a href="../main/site_index_1.html"><img src="../images/bb/search.jpeg" alt="Search" width="41" height="18" /></a> <script type="text/javascript" src="http://w.sharethis.com/button/sharethis.js#tabs=web%2Cpost%2Cemail&charset=utf-8&style=default&publisher=3eb2a596-407e-4ef6-bf66-436a6ffa42f3"> </script></p> <h2>We Are Not Accepting Any More Medtronic Pumps or Supplies or Cozmo Pumps</h2> <p>Before shipping please read why we are no longer accepting Smiths Medical Cozmo insulin pumps (but we can take pump supplies) and why we are not accepting ANY Medtronic pumps OR pump supplies.</p> <ul> <li><a href="http://www.ipump.org/blog/2009/03/02/a-letter-from-the-ceo-on-the-financial-state-of-ipump/" target="_blank"></a><a href="http://www.ipump.org/blog/2009/08/01/ipump-is-no-longer-accepting-smiths-medical-cozmo-insulin-pumps/" target="_blank">iPump is no longer accepting Smiths Medical Cozmo insulin pumps</a> [August 1, 2009]</li> <li><a href="http://www.ipump.org/blog/2009/08/08/why-we-are-no-longer-accepting-medtronic-insulin-pumps-and-pump-supplies/" target="_blank">Why we are no longer accepting Medtronic insulin pumps and pump supplies</a> [August 8, 2009]</li> </ul> <p><br /> If you send us any of these items we will need to dispose of them AND we will not acknowledge the donation because we are specifically asking people to please not send us these items: </p> <ul> <li>Because Smith's pumps cannot be repaired, recertified, or upgraded, they no longer have any donation value; and </li> <li>Because Medtronic will not upgrade 99% of the pumps donated to us, they also have no value. If you want to dispose of your Medtronic pump please contact Medtronic. Because Medtronic will not exchange recalled items, we can only dispose of those donated items as well.</li> </ul> <p> </p> <h2><em><strong>We truly appreciate all donor's good intentions, but to comply with the law, any item you donate that has no value will not be listed on your tax receipt.</strong></em></h2> <h2><br /> FAQs About Tax Deductible In-Kind Donations</h2> <ol> <li><strong>Is my in-kind gift tax deductible?</strong> Yes. iPump is a 501(c)(3) tax-exempt, nonprofit, public charity that relies on the goodwill of the general public. We have also received separate state tax-exempt status in California. We are legally able to provide you with a tax receipt so that you can itemize your donation to us on your tax return.<br /> <br /> We invite you to view a copy of our <a href="../pdf/irs-exemption-letter.pdf" target="_blank"><strong>IRS Tax Exemption Approval Letter </strong></a>(.pdf) online. You can also call the IRS to verify our status. <strong><a href="../faq/q2-irs-database.html">Why isn't iPump in the IRS database yet?<br /> <br /> </a></strong></li> <li><strong>What do you list on tax receipts?</strong> We provide a general list of supplies and pumps that are donated to us.<em> If you donate items that we do not accept, we do not list it on your tax receipt.</em> All insulin pump donors will also receive a separate document showing the pump by brand, model and serial number was donated to iPump that releases the donor of all legal liability. When the pump is recertified or otherwise distributed or disposed we complete IRS Form 2828 to satisfy legal tax requirements of items valued over a certain amount.<br /> <br /> </li> <li><strong>How long does it take to get a tax receipt?</strong> That depends. We are able to issue receipts for straight financial donations usually within 1-2 weeks because they are simple to process.<br /> <br /> In-kind donations must be logged in, and receipts prepared that show more detail than for financial donations. Because we were taking as long as 2-3 months to get detailed receipts out to donors we are now sending a post card to let you know when your donation as arrived. This takes some of the anxiety over whether a donation was received or not. <br /> <br /> <strong>Federal law permits us until January 31st of the year following the donation to provide you with a tax receipts (but we try hard to get receipts out as soon as possible). </strong> If you have not received your tax receipt in a timely manner, please feel free to <a href="javascript:location='mailto:\u0068\u0065\u006c\u0070\u0040\u0069\u0070\u0075\u006d\u0070\u002e\u006f\u0072\u0067';void 0">Email us.</a><br /> <br /> </li> </ol> <p><strong>To Claim A Tax Deduction for Your Donation You Need to Have Record of the Donation</strong></p> <p><a href="http://www.irs.gov/pub/irs-pdf/p1771.pdf" target="_blank">IRS Publication 1771, Charitable Contributions – Substantiation and Disclosure Requirements</a><strong>,</strong> explains federal tax law for charities that receive tax-deductible contributions and for taxpayers who make contributions. </p> <p>As of January 1, 2007, a new tax law enacted under section 1217 of the Pension Protection Act of 2006 took affect. Under this provision, a donor cannot claim a tax deduction for any contribution of cash, check or other monetary gift made on or after January 1, 2007, unless:</p> <ul> <li>The donor maintains a record of the contribution in the form of either a bank record (such as a cancelled check); or<br /> </li> <li>Has a written communication from the charily (such as a receipt or a letter) showing the name of the charity, the date of the contribution, and the amount of the contribution. <br /> <br /> </li> </ul> <p><strong>Other important IRS guidelines for charitable donations include:</strong> </p> <p>You cannot claim a deduction on your taxes for donating to a charity for any single contribution of $250 or more <em>unless you have a written receipt</em> from the charity and the charity must be tax exempt. Not all nonprofits and charities are tax-exempt - but iPump is.</p> <p>Any in-kind donation to a single charity over $5,000 requires appraisal. This includes insulin pumps valued at more than $5,000. Even if our own records show the value on our books at higher, the IRS may still require you to have an appraisal. We are NOT permitted by the IRS to appraise your donations for you, but if you ask us, we will tell you what we record. Please visit the IRS website and read "<a href="http://www.irs.gov/newsroom/article/0,,id=118196,00.html" target="_blank"><strong>Simple Steps Can Help Tax Payers with Charitable Donations</strong></a>." </p> <p>The IRS requires us to provide receipts not later than January 31 of the year following the donation, but we are not required to provide one sooner. The receipt can be in any form (postcard, letter, email, etc.) but must contain certain information following: </p> <ul> <li>Name of organization, where the donation was received, and the date it was received;</li> <li>Amount of cash contribution (no matter how small); and</li> <li>A description (but not the value) of non-cash contributions. (Note: we provide more information than is required by the IRS, instead of "diabetes supplies, we list specifically what supplies were donated).</li> </ul> <h2><strong><br /> We Cannot and Do Not "Barter" for Donations</strong></h2> <p>We sometimes have individuals offer us a donation in exchange for something else (like swapping out supplies). It is our policy that we never exchange goods for goods. All donations must be sent because you want to help. Donating to us will not influence any decision on an application should you ever apply for assistance.</p> <p>The IRS generally prohibits goods or services to be provided by the organization in return for the contribution. And, if this was the case, it must be noted on the receipt and the value of the goods or services will be deducted from the donation's value. (Specifically, a "Description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution.")</p> <h2><strong><br /> "Valueless" Donations Cannot Be Deducted <br /> </strong></h2> <p>Items that are considered "valueless" are those that cannot be used or redistributed, and therefore, are considered medical refuse and therefore, are not tax deductible for you. We receive literally hundreds of thousands of dollars in expired items each year. <strong> Expired supplies cannot be used and have no value to us or for your tax purposes.</strong> If you would not use an item because it is passed its expiration date, damaged, or unsafe, please do not send it. We must consider the safety and welfare of our clients (and abide by the law) and will not redistribute such items.<br /> <br /> </p> <h2><em><strong>We truly appreciate all donor's good intentions, but to comply with the law, any item you donate that has no value will not be listed on your tax receipt.</strong></em></h2> </div> </div> </div> </div> <div id="footer"> <div class="indent-footer"> <p><a href="../sponsors/website.html">Website Sponsors</a> | <a href="../main/privacy-statement.html">Privacy policy</a> | <a href="../main/disclaimer-1.html">Disclaimer</a> | <a href="../main/contact_1.html">Contact Us</a> | <a href="../main/site_index_1.html">Site Map</a></p> <p> </p> <p>© 2006-2009 iPump.org, Inc. is a 501(c)(3) public charity - your donations are tax-deductible</p> <p> </p> </div> </div> </div>  <script type="text/javascript"> var gaJsHost = (("https:" == document.location.protocol) ? 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