Cohousing-L Mailing List: Re: How to accept donations

[Rob Sandelin (floriferous]

ANY income you generate from any source is taxable at 15%. This is simply
how the tax system works. Unless you spin off a 501C3 as an adjunct to your
organization, and this is complex and expensive, any donations made in cash
that get on your books are taxable.

Rob Sandelin
Sharingwood Community
Snohomish County, WA

-----Original Message-----
From: Anne Fleck [mailto:solianna [at] cablespeed.com] 
Sent: Saturday, December 13, 2008 9:50 AM
To: 'Cohousing-L'
Subject: [C-L]_ How to accept donations


Hi,
I'm trying to formulate a method for Jackson Place Cohousing in Seattle,
Washington to accept donations. We currently have no system to "charge" for
use of our facilities or let members simply contribute to our maintenance or
projects (or anything else) out of the "goodness and kindness of their
hearts". It is my understanding that as a condo association we can do this
without incurring taxes.
 
I've checked the archives on Coho-L but I'm not finding anything directly
addressing this topic.
 
If anyone out there knows how to set up the bookkeeping for this, please
contact me here or at solianna [at] cablepseed.com  You will have my eternal
gratitude. 
 
Anne Little
 
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