Tax Advantages to Donations
Tis the season to cash in on your donation to the Quesnel Community Foundation.
President Roy Josephy says there are tax advantages to people’s generosity.
“When you make a donation to the foundation, you can save nearly half of the donation in taxes on amounts over $200 and for amounts less than $200 it’s a little bit less…It goes up as much as 43.7%”
Josephy says information on how you can donate is available online.
He says the endowment is now approaching $2 million dollars.
The interest and money earned from the endowment are given out every year to community groups in the area.
Josephy says around $63,000 was granted to 13 organizations at this year’s 13th annual awards gala.
He expects that amount to go even higher next year.