Attention Nonprofits in Puerto Rico! New Tax Incentives for Charitable Contributions

April 12, 2012 10:20 PM
by / Topics: Uncategorized / 5 Comments »

On January 31, 2011, Puerto Rico adopted a new Internal Revenue Code (2011 PR Tax Code) that contains amendments to the section governing deductions for charitable contributions.   Effective immediately for tax years beginning on or after January 1, 2011, the 2011 PR Tax Code increases the allowed deduction to individuals and corporations for donations made to nonprofit organizations in Puerto Rico.

For individuals, this means a 100% deduction of the amount donated, up to 50% of the taxpayer’s total adjusted gross income for the taxable year.   For corporations, the amount of charitable contributions that they can deduct increased from 5% to 10%.

The amendment to the charitable contributions section of the 2011 PR Tax Code was the result of a collaborative, educational effort initiated and led by Flamboyan Foundation and Red de Fundaciones with  key support from volunteer professional experts and government officials, to stimulate giving and strengthen the nonprofit sector in Puerto Rico.

For Nonprofit Organizations

Make sure your nonprofit organization is in compliance with the State and Treasury Departments of Puerto Rico. If you are unsure whether or not your organization is in compliance, use the provided resource named “Hoja de Cotejo – OSFL Cumplimiento” to learn more. Below, find information on the new law and useful tools for developing fundraising messages and strategies to take advantage of it.

Nonprofit organizations which educate donors about the 2011 PR Tax Code can potentially increase their giving.  A better law is an incentive, but a law in and of itself does not promote giving, so organizations should engage current and potential investors strategically.  Here are some suggestions for doing so:

  • Invite current and potential donors to see your work in action.
  • Create a one page organizational overview or frequently asked questions document for current and potential donors.
  • Know your budget and be prepared to answer questions about how donor’s investment dollars are spent.
  • Send information to current donors about the new tax code and ask them to share it with a friend.
  • Share your ideas with us and we will post them on our website.

Resources (only available in Spanish):

5 responses to “Attention Nonprofits in Puerto Rico! New Tax Incentives for Charitable Contributions”

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  4. Han^I’m a girl with a pretty small torso and a size small is a little too big for me&#44 but I knew that would happen before I purchased it. It’s soft and it does come in heather red and not the deep red the photo shows. This is definitely a male shirt&#44 but unisex if you don’t mind about the “male” t-shirt structure. This shirt is also not an official Steven Universe shirt (but I do not mind because it was cheap/it’s Gildan brand[shown in picture]). The smell is not that bad right out of the bag&#44 which is great! But&#44 it still has a smell.~5|Tomas Rodriguez^I’ve spent decades cultivating my Steven Universe look&#44 so I got a shirt! THUMBS UP! Except… It took me three wearings before I realized the star was off center and crooked. SAD FACE. Oh well. Make sure yours isn’t a bad printing when you get it. I’ll take another photo with it laid flat later; it’s easier to see the crookedness.~4|Rei^This was a gift for my friend&#44 who is a big fan of Steven Universe. I thought this would be a perfect shirt for him&#44 and he likes it a lot! It was a bit large&#44 but that was a fault on my part for not knowing his size exactly. My friend is a bit skinny&#44 but I didn’t want to buy the shirt TOO small. I believe it would shrink a little since the shirt is made of a percentage of cotton. Keep that in mind before you buy&#44 because cotton may shrink a bit.~5|Amazon Customer^The colors a little funky. I know in the description it says heather&#44 and that’s about right&#44 but in the picture it looks bright and vibrant red&#44 like Steven’s shirt. More Hardee’s than Universe if you can dig it.~4|JP Roland^My son gets so many comments on this shirt because there are apparently a lot of 18-26 year old Steven Universe lovers out there. I was afraid this would be cheap because it is so inexpensive&#44 but it’s an excellent&#44 soft t-shirt.~5|Maria^Bought it for my grandson – he loves it. Wears that star like it is a badge. It doesn’t hurt that his name is Steven.~4|Amazon Customer^My son loved this shirt&#44 it fit really well&#44 was a tad bit on the long side but nothing we couldn’t deal with. It might shrink up a bit when its washed. No complaints&#44 would purchase again and would recommend.~5|Esther Choi^Material is soft&#44 and fits great as it should! The only thing is the collar area is a bit tighter than expected but isn’t too much of an issue. I ordered this shirt just in time for Halloween for my simple Steven get-up…I already had the burger backpack&#44 some cuffed jeans and coral flip flops to complete the look.~5|Ashonalee Olinger^Bought this as a present for my boyfriend. He is tall and slender but his torso is long so I got a large. At first it was a little big but he washed/dried it in the dryer once and it fits nicely now. He only hangs it to dry now so it doesn’t shrink or fade.~5|Renee^It’s large on her but she is a young girl; she loves it though and I like that it looks good.~4|

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