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Recent Changes in Tax Laws Affecting Charitable Donations. The Tax Cuts and Jobs Act of 2017 trimmed tax rates and significantly boosted the standard deduction, thus greatly reducing the number of ...
The Barack Obama Foundation is a Chicago-based nonprofit organization founded in 2014. It oversees the creation of the Barack Obama Presidential Center, runs the My Brother's Keeper Alliance (a program Barack Obama began while he was president), and operates a scholarship program through the University of Chicago's Harris School of Public Policy.
Charitable donations can help a worthy cause, but your donations may also help your tax bill. Watch Out: The 7 Worst Things You Can Do If You Owe the IRSMore: Owe Money to the IRS? Most People Don ...
The Obama Foundation raised $311 million in contributions and grants in 2022, according to the foundation’s annual IRS filing. That’s the largest sum the foundation has raked in since it got ...
Organizing for Action (OFA) was a nonprofit organization and community organizing project that advocated for the agenda of former U.S. President Barack Obama. [2] [3] The organization was officially non-partisan, [3] but its agenda and policies were strongly allied with the Democratic Party. [4]
The foundation's 2017 annual report, and its 2017 IRS filing, show that the Obama Foundation raised $232.6 million, on expenses of $23 million. The year after Obama left office was the first year the foundation lifted a cap on donations. While it lists its donors on its website, it no longer specifically links donors to exact amounts.
The deadline for tax-deductible donations for the 2023 tax period is Dec. 31, 2023.
Once they have established eligibility for matching payments, presidential candidates may receive public funds to match contributions from individual contributors, up to $250 per individual. Contributions from political committees are not eligible for matching funds. Cash contributions are also ineligible, as their origins cannot be tracked.