Frequently Asked Questions
New Sweden is a 501(c)(3) Organization and is IRS Tax Exempt for Contributions
- New Sweden is tax exempt and does not pay taxes.
- Your charitable contributions (donations) to New Sweden are deductible.
- For any contribution over $200, a thank-you acknowledgement letter will be mailed for the donor’s use in filing their income tax as a charitable contribution and that states the donor received no services nor goods for this contribution.
- A total contribution is tax-deductible on the donors IRS income tax for the year it was given.
- If a donor includes a payment for an event reservation, membership application or renewal, or any other form of receiving something in return for the money, the contributor must deduct that amount from their IRS Charitable Contributions and deduct only the portion of their contribution for which they received no goods nor services.: e.g. a $1200 contribution that includes $1,000 contribution and $200 for 5 people to attend Kraftskiva, only the $1,000 is a charitable contribution.
- A tax accountant will keep up-to-date on any IRS changes, and should be consulted if the donor has any questions.
- New Sweden’s Tresurer will keep a record of the contribution amount and any portion for which the donor accepted goods and/or services.