Individuals who contribute money or property to a nonprofit organization can take a tax deduction, making it easier for these organizations to raise funds from donations.

Question

Quizplus · Accepted Answer

This is true. Nonprofit organizations are generally tax-exempt, meaning that they do not pay federal income taxes on their profits. Additionally, donors who contribute money or property can deduct the value of their donation from their taxable income, reducing their tax liability. This makes it more attractive for individuals to donate to nonprofits, which in turn can help these organizations to raise funds to support their activities.

Individuals Who Contribute Money or Property to a Nonprofit Organization