No. But while your volunteers cannot take a tax deduction for the value of their time, be sure to inform them that out-of-pocket, documented expenses may be deductible on their individual tax returns. Volunteers may deduct the direct costs of operating their vehicles or the standard charitable mileage rate of 14 cents per mile as well as some other expenses. Volunteers should consult their tax advisor or refer to IRS Publication 526, Charitable Contributions.
What would our nonprofit sector look like without dedicated volunteers? Many community-based nonprofits would soon disappear in a vacuum of human capital. Don't let this force go unrecognized!
No comments:
Post a Comment