Are donations to Start Up tax-deductible?Yes. In
accordance with the Internal Revenue Service, a gift to Start Up is deductible within
the guidelines provided by law and is not related to any goods or
services provided by Start Up for such gift. For tax purposes, Start
Up's Federal Employer Identification Number is 77-0366059.
One-time Tax Break Encourages Cash Gifts Before December 31, 2005.
Despite the name of the Act (the Katrina Emergency Tax Relief
Act), this special tax break is not restricted only
to disaster relief organizations.
The federal government is encouraging large end-of-year gifts to all
qualified charities in 2005 by waiving restrictions on the use of charitable
income tax deductions on gifts of cash.
On September 23, the President signed the Katrina Emergency Tax Relief Act
of 2005. The Act temporarily suspends the rule that limits the use of
charitable deductions to 50% of a donorīs adjusted gross income. This means
that donors can deduct up to 100% of adjusted gross income on gifts that
meet certain requirements:
- The gift must be cash (including checks and credit cards).
- The gift must be made in the period beginning August 28 and ending
December 31, 2005.
- Donors age 59 1/2 and older also have a unique opportunity to
transfer assets to Start Up from IRAs and other
qualified retirement plans and deduct the full amount on their
2005 federal income tax returns.
Please be sure to check with your accountant or other advisers if you
believe that you may benefit from KETRAs provisions. If you would like to
explore ways in which you may also take advantage of this to benefit Start
Up, please contact us at info@startupepa.org or call
650-321-2193.
Why should I donate to Start Up?
By contributing to Start Up, you will give back to the community
by helping Start Up foster entrepreneurship in the economically
disadvantaged areas of East Palo Alto and East Menlo Park, and will
help to minimize the "economic divide" that exists between
these areas and other Silicon Valley communities.
Start Up operates on a lean budget that it raises each
year, and we rely on the donations of individuals like you to provide
the financial support needed to fulfill our mission and commitment
to the community.
For more information about how your investment in Start Up will
impact the programs and services we are able to offer our clients
and the community, visit our Program
Services section.
What is Start Up's mission?
Start Up trains and supports entrepreneurs who have limited
access to resources to help them create prosperity for themselves
and their communities.
What kind of businesses does Start Up support?
Start Up graduates own and operate a number of successful enterprises.
Most of these start out as home-based, part-time income supplement
streams but may go on to be full-time self-employment resources
for the entrepreneurs and their employees.
How will my donation be spent?
Over 75% of contributions are applied directly to client service
provision.
What is Start Up's annual budget?
Start Up operates on a very lean annual budget.
Who are some of Start Up's supporters?
Start Up has received generous support from a number of individual,
corporate, and foundation supporters.
Who are Start Up's community and corporate partners?
Start Up relies heavily upon collaboration with corporate and community
organizations. Please see our list of Partners.)
Does Start Up have an endowment?
No. Start Up operates on an annual budget, raised each
year.
What is the "Sponsor an Entrepreneur (SAE)" Program?
The SAE is a program targeting individual donors who are willing
to make a substantially larger and, if possible, multi-year investment
in Start Up. The SAE program provides an opportunity to connect
more personally with the organization by making scholarship-like
donations in support of individual entrepreneurs and/or entrepreneur
training class groups.
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