“One day we will pay all of you back by going to college and becoming someone in life.” – Brianda Figueroa (Pre-College Camp Participant)
Benefits of Giving to Y2L
A donation to Y2L can potentially entitle you to a charitable contribution deduction when filing your tax returns. This deduction is applicable when you itemize your deductions.
At Youth 2 Leaders Education Foundation, we know that individuals make contributions to us because they truly believe in the impact that it can make in the lives of Kern County youth. However, we also believe that you should know about the tax benefits you can gain by giving. Below is a brief explanation of one of the benefits of donating to Y2L. However, we encourage you to consult with your tax professional for further information.
As a donor, there is a cost to you and your wallet when you give to an organization. However, if the gift to the organization is deductible, the actual cost of the donation is reduced by your tax savings. For example, if you are in the 25% tax bracket, the actual cost of a $100 donation is only $75 ($100 minus the $25 tax savings). The higher you are on the tax bracket scale, the lower the actual cost of your contribution to the non-profit organization gets. This is a great incentive to anyone, but is especially of interest to those in the higher tax brackets.