Tax Deductible Donations
The Center for UFO Studies welcome's cash donations to further our mission statement. Direct cash donations or purchases of CUFOS materials over the purchase value may entitle the donation to be used as a chartable deduction with your Federal Taxes. The deductible portion of a non-cash charitable gift is the difference of the gift amount minus the fair market value (FMV) -- not cost -- of any goods and services the donor received in exchange for the gift. However, to use the donation the donator must itemize their tax return. You must file Form 8283 if the amount of your deduction for all noncash gifts is more than $500.
In return for your voluntary donation you will receive letter containg the following information about your donation for the IRS for all gifts more then $500.
- name of organization
- amount of cash contribution
- description (but not the value) of non-cash contribution
- statement that no goods or services were provided by the organization in return for the contribution, if that was the case
- description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution
- statement that goods or services, if any, that an organization provided in return for the contribution consisted entirely of intangible benefits, if that was the case
All or part of your gift may be tax deductible as a charitable contribution. Please check with your tax advisor.