What is the difference between dues and donations?
To comply with the laws governing nonprofit organizations, VEDA must distinguish between money it receives for dues, money it receives for goods, and money it receives as donations. If someone sends us a check not accompanied by a note explaining what the money is for, we assume it is a donation. Internal Revenue Service guidelines allow people who claim itemized deductions on their federal income tax returns to disregard items of insubstantial value received from nonprofit organizations in return for payment. You or your tax advisor will have to decide whether items and services received with your member subscription dues (such as VEDA’s quarterly newsletter, On the Level) allow you to combine the dues and donations you pay to VEDA in a single tax year and call them donations.
Related Questions
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