Here are some answers to the most frequent asked questions about your donations
You say that my donation is tax-deductible. What do I need to claim it on my tax-return?
Podari.Life has been approved by the IRS to be tax-exempt 501(c)(3) charitable organization and your donations are tax-deductible. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. In your tax-return you just put our EIN 47-4165470. For a contribution of more than $250 you should keep our receipt on file, that we send to everybody by the end of January.
IRS says: To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete IRS Form 8283, Noncash Charitable Contributions, to your return.
I want to send money to a particular program of Podari Zhizn or Gift of Life, but I am in the United States, so it’s easier to send money to you. Where do my contribution go?
We share a common mission with our sister-charities - Podari Zhizn and Gift of Life: a child’s life should not depend on money. However, all three charities have different programs to achieve our common goals. For example, Podari.Life sees it as narrowing the gap between US and Russia ability to fight childhood cancer, and we are more focused on doctors’ education and access to US-practices and research. So your donation will help us with our programs which work toward common mission. However, if you are set on contributing towards a particular program by one of our charities, please let us know, and we’ll transfer your contribution to the designated account.
How much of each donated dollar do you spend on your company and your office?
To be honest, it is hard to tell exactly. because we started to operate only last year and Podari.Life is still a relatively small charity. As of today, our operational expenses are slightly less than 8%, including all transaction* and legal fees. We have not yet had any fundraising expenses, but in order to grow we may need to spend here, along with minor office expenses. We want to assure you that these costs - offices expenses, transaction fees and fundraising cost - will be kept under 10% of our total expenditure. So, it is correct to say that no more than 10 cents from one donated dollar will go towards covering our operational expenses. We do aspire to grow to be able to pay salaries to professionals who will be able to take our charity to a new level, while still keeping our operation costs as low as possible.
*see below about transaction fees
It is obvious that you have some transaction fees. Can I learn more about it to find a more effective way to support you?
Here's some information about transaction fees when you donate to our charity. When you donate via:
- Paypal: 2.2%+30c per each donation. We have lower fee than usual transaction because we are an IRS approved public charity
- Stripe: 2.2%+30c per each donation. We have lower fee than usual transaction because we are an IRS approved public charity
- Paypal Giving fund: Free of charges. However you donate directly to Paypal Giving Fund that will transfer your donation to our account by the end of the month, so we don’t know that you are our supporter before this date and cannot send you a “thank you” note or any news updates.
- Check (pay in order of Podari.Life Inc): Free of charge. Only a stamp and an envelop. But you cannot subscribe to a recurring donation. Our address is: PO Box 80461, Stoneham, MA 02180
- Causevox: 4.5% platform fee and 2.2% + 30c transaction fee.