Barbara's Beat: Start a tax deductible foundation with $5 from Serena Williams and GiveBack to your favorite charity
Sam's Club

Saturday, November 20, 2010

Start a tax deductible foundation with $5 from Serena Williams and GiveBack to your favorite charity



The Give Back Foundation was established to allow anyone to join GiveBack and set up their personal foundation account. The funds that accumulate in that account are part of the Give Back Foundation. Each member has the ability to direct the funds from their account to any charity in good standing with the United States Internal Revenue Service.

Create A Foundation, Get $5 To Give
Serena Williams is an Athlete On A Mission. A mission to achieve on and off the courts and to inspire people to support the causes they care about most. Join Serena as a fellow Athlete On a Mission and get $5 to give to any local or global charity.

Together, all of the members’ accounts are gathered under one Give Back Foundation account until each member decides how to direct their funds. The members can give their money away whenever they choose, either as a single donation or as part of a group of people coming together to support a cause. But, 100% of the money that is directed to a charity is sent to the charity. The Give Back Foundation charges nothing for the transaction.

Any money a member adds directly into their GiveBack account is immediately tax deductible. Any additional money added, either by our corporate sponsors or other individuals, is not deductible by the member. At the end of the year the Give Back Foundation issues every member a consolidated giving statement that may be used as an IRS tax receipt.

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