What's in this article:
-What is a legal entity
-How to set it up
Tax deductibility explained
What is a legal entity?
Charidy provides its services exclusively to registered non-profit organizations. A nonprofit organization is one that qualifies for tax-exempt status by the IRS (applicable for the US) because its mission and purpose are to further a social cause and provide a public benefit. The IRS provides a non-profit with a unique number - Tax ID / ABN / IRD Number. This number is required in order to start a fundraiser.
To set up a legal entity for your organization account follow these steps:
- Log in to your organization account dashboard
- Click the 'down arrow' near the name of your organization on the left side menu.
- Next, click 'Organization Settings', scroll down and select 'add legal entity', fill out all required fields.
- You are all set!
** 'Send Tax Deductible Receipt For Donations' field - select 'true' for yes and 'false' for no.