Congratulations to The Scott Detherage Foundation on becoming a 501(c)(3) non-profit organization! 

The Scott Detherage Foundation is a 501(c)(3) organization, meaning that the IRS has determined that we are a public charity.  Being a public charity means that The Scott Detherage Foundation exists to serve a public good, and that our funding comes from many sources rather than just one or two big donors.

In practice, it means that the government gives The Scott Detherage Foundation special tax privileges.  The Scott Detherage Foundation does not pay ordinary income taxes, and gifts to The Scott Detherage Foundation are tax-deductible.

In principle, being a public charity means that The Scott Detherage Foundation has certain moral obligations.  The government has given us special privileges in exchange for the good that we contribute to our community.  We have an obligation to make our community a better place.

The IRS grants public charity status to organizations that operate for religious, charitable, educational, scientific, or literary purposes, or that work for the prevention of cruelty to children or animals.

If I make a gift to The Scott Detherage Foundation, is it tax-deductible?

The simple answer is, Yes! Really it is a little more complicated than that.  Currently, federal law only permits people who itemize their deductions to deduct charitable gifts.  So when you are filling out your federal income taxes, if you take the standard deduction you do not get to take any special deduction for your gifts to The Scott Detherage Foundation or other charities.  However, if you have enough deductible expenses that you can itemize your deductions, then you can deduct the amount of your gifts to The Scott Detherage Foundation from your income.  Most of the time (but not always) people who can itemize have either a home mortgage or medical expenses. If you aren’t sure whether you can itemize, check the IRS website or consult a tax advisor.