EMERGENCY CHARITABLE SERVICES
When disaster strikes, it’s the charity of family and friends that can help get us through. This outpouring of support can bring hope, comfort… and sometimes a massive tax bill. Big donations can mean big taxes, as the IRS can treat these donations as income, leaving the recipient or organizer with a tax bill up to 40% of the donated amount. That’s where ECS can help.
Founded by an attorney and a CPA, Emergency Charitable Services was founded to help those in need avoid large tax bills from the government. By setting up a charitable foundation for your fundraiser, we can help you eliminate the tax liabilities incurred from online donations.
Our mission is simple – to make it easier for you, and your team, to give what you want, how you want, and to whom you want. To do this, we work with both individuals and organizations, providing the support and handling the paperwork for individuals looking to maximize tax benefits and organizations who need help managing the paperwork and tax filings around employee community fundraising. We leverage the most up-to-date technology, giving you access to the same benefits as Big Charity, handling the paperwork for you and maximizing the impact of your charitable fundraising.
… there may be instances where the income is in fact taxable for organizers (depending on amounts received, use of the funds, etc.), so we recommend that you maintain adequate records of donations received and consult a tax professional to be sure. Because everyone’s situation is different and tax rules can change from time to time, we’re unable to give any tax advice.GoFundMe Website
Online donation sites like GoFundMe, Snowball and Bonfire have drastically expanded the reach of charitable fundraisers. Increased visibility leads to bigger donations, and bigger donations mean more scrutiny from Uncle Sam. By setting up a charitable foundation, we can help you eliminate the worry of taxes while you focus on the issue that inspired the fundraiser to begin with.
How It Works
While teaching a routine at a children’s dance studio, Dave R. slipped and fell. As a result of the fall, Dave suffered a traumatic brain injury and was unable to work. ECS was able to set up a charitable foundation for Dave. When his GoFundMe campaign netted $50,000 we were able to save him over $16,000 in taxes.
Annie M. is a single mother of 2 who adopted her 5 nieces and nephews when their parents became addicted to drugs. Shortly after, she was diagnosed with colon cancer and was unable to work. We were able to set up a charitable foundation for her fundraiser. She raised over $150,000 and ECS was able to save her over $40,000 in taxes
Kate and Pat Amsbry sought a way to help schools in their area deal with strained budgets. They reached out and began working with their local elementary school to help the teachers and students raise money. We partnered with Friends of Madison Elementary to handle the paperwork while Kate and Pat focused on fundraising.