Your donation to a tax-exempt organization supports two good causes: the charity’s mission and your wallet (in the form of a charitable tax deduction). Just be careful at tax time.
If you receive something of value in return for your donation — dinner, goods or services, tickets to an event, etc. — only the net amount is deductible. Example: If you donate $100 and receive dinner worth $40, the deductible amount is $60.
There are some exceptions. In 2016, you can deduct the full amount if:
> The items you received were free, you did not order them, and the cost was no more than $10.60.
> Your gift was at least $53 and you received only token items with the charity’s logo (e.g., bookmarks, key chains, calendars, etc.) that cost no more than $10.60.
> The benefits received are worth less than 2% of your contribution and no more than $106.
Charities are required to acknowledge in writing the value of goods or services provided for contributions of more than $75.