Are additional contributions to the ACGFund tax-deductible?
Yes. Under current law, donors will be eligible for an itemized income tax deduction for a charitable contribution on the date the contribution is made to the ACGFund. This is subject to the deductibility limitations set by law. Donors should consult their legal or tax advisor to review their personal situation. The donors will receive a consolidated statement of their annual contributions and granting activity at the end of each calendar year. Please note that since donors are eligible for a tax deduction at the time they make their contribution to the ACGFund, any other receipts they may receive (e.g., from a public charity to which they recommended a grant) are duplicative and cannot be used for tax purposes. Grant recommendations made to individual charities, though they may be acknowledged by the charity, are not eligible for additional tax deductions by the donor.
