The Mountaineers
As Mountaineers, we tend to think in “seasons.” Snow season, smoke season, conditioning season, and summer camp enrollment season all come to mind. But what about tax season? More and more, Mountaineers members are donating to invest in our shared community values, such as conserving our public lands or making outdoor education more accessible. Maybe your life has been enriched by being part of The Mountaineers and you have donated in support of our mission. As tax season approaches, we’re here with some FAQs about your contributions and how they may impact your filing.
Which payments are tax deductible?
As a 501(c)(3) nonprofit, 100% of your member dues and donations are tax-deductible. If you attended a fundraising event, a portion of your ticket sales and auction payments may be tax-deductible; the difference would be itemized on your acknowledgement letter. And depending on how you file, in-kind donations may also be tax-deductible; you will need to work with your tax advisor to value your in-kind donation. Course fees, book purchases, lodge stays, and facility rentals are not tax-deductible donations.
Where can I find my donation tax receipts?
You would have received confirmation or a tax receipt via email at the time of your donation. To reduce our carbon footprint, we no longer mail hard copies of receipt letters unless requested.
A list of all purchases and donations made by check or through our website can be found on your Mountaineers profile by clicking on “My Payments.” This includes payments like course fees or lodge stays, along with any books you purchased or donations you made here at mountaineers.org. If you participated in a fundraising event, gave through your employer, made an in-kind donation, or gave in some other way, those donations may not show up on your profile. But we’re happy to help you fill in the gaps!
If you need an updated statement or have questions about your 2022 donations, please email development@mountaineers.org.
How can I plan ahead for 2023?
Tax-smart giving is becoming more accessible for more people. With some thoughtful planning, you may be able to achieve some personal benefit while having an impact in our outdoor community.
A donor advised fund (DAF) is like a charitable savings account. It sets you up to receive an immediate tax deduction, and gives you the flexibility to recommend how much and how often money is granted to The Mountaineers and other qualified charities. You can recommend a grant now to make an immediate impact or use your fund as a tool for future charitable gifts. Historically DAFs were available for households who had access to large incomes. More and more financial planning organizations are eliminating required minimums, making DAFS more accessible to donors of all levels. Speaking with your financial planner is the best way to discover if a DAF is right for you.
Securities and mutual funds that have increased in value are popular assets to use when making a gift to The Mountaineers. When you donate securities to The Mountaineers, you receive the same income tax savings that you would if you wrote a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20%.
If you are 70.5 or older, you can give directly from your IRA to a qualified charity such as The Mountaineers without having to pay income taxes on the money. Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax. That means that this benefit can be realized even if you don’t itemize on your tax return. Carol Sue, 44-year member, shared with us about how convenient the process has become for her. She shared some tips from her experience on our blog that you won’t want to miss.
We are so grateful for the hundreds of Mountaineers members who give back to the community with charitable donations of all sizes. Together, we are growing our community, investing in outdoor education, and conserving our natural world.
The Mountaineers and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
