Charitable contributions are donations made to qualified organizations that can be claimed as a deduction on your tax return. These contributions can provide both societal benefits and potential tax savings for individuals and businesses.
A Charitable Remainder Trust is an irrevocable trust that pays income to one or more individuals until the grantor's death or for a specified number of years, after which the remaining assets pass to a designated charity.
A charitable trust is a type of trust that is established to provide financial support to one or more charitable organizations, aimed at fulfilling philanthropic goals and benefiting the public.
A donor is an individual or entity that provides a gift or transfers a power, right, or interest, often in the context of creating a trust or other legal arrangement.
A 'qualified charity' or 'qualified charitable organization' is a nonprofit organization recognized by the IRS as eligible to receive tax-deductible contributions.
A qualified organization is an entity to which individuals or businesses can make deductible charitable contributions according to tax regulations.
