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O'Albert's - Saint Albert the Great Parish

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Tax Information<br />

St. <strong>Albert</strong> <strong>the</strong> <strong>Great</strong> Church is a tax-exempt, charitable<br />

organization as described in Section 501(c)(3) of <strong>the</strong><br />

Internal Revenue code. Direct donations to St. <strong>Albert</strong>’s<br />

qualify as a charitable contribution and are deductible<br />

for income tax purposes as provided by law. The St.<br />

Patrick’s Day Reverse Raffle and Silent Auction guests<br />

and donors are encouraged to seek <strong>the</strong> advice of <strong>the</strong>ir<br />

tax advisors or call your congressman at 1-800-SPENDIT,<br />

relative to any benefit resulting from <strong>the</strong>ir participation<br />

in this event.<br />

Successful bidders of auction items are encouraged to<br />

seek professional advice relative to <strong>the</strong> deductibility of<br />

any portion of <strong>the</strong> price paid for auction items. If <strong>the</strong><br />

item purchased consists solely of intangible religious<br />

benefits that are regarded for tax purposes to have no<br />

fair market value, <strong>the</strong> full purchase price of such an item<br />

should be regarded as a qualified charitable deduction.<br />

All cash gifts to St. <strong>Albert</strong>’s qualify as a full charitable<br />

contribution so long as <strong>the</strong> donor received no direct benefit<br />

in return. Gifts of tangible items may also qualify as a<br />

charitable contribution, although certain restrictions may<br />

apply to non-cash gifts. St. <strong>Albert</strong>’s provides a written<br />

acknowledgment as substantiation for all cash and noncash<br />

items donated.

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