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Social Responsibility


In accordance with our corporate values, we have set ourselves ethical standards and believe it is part of our professional duty to give back to society. One of our goals is to develop a sound philanthropic foundation  and we invite you to participate! Forex Introducing Brokers Online backs this initiative by donating a percentage of its profits to charitable groups annually.

How you as a trader can participate is you can use your cash rebate from Forex Introducing Brokers Online, and donate it to a charity. The cash donation can then be used as a tax deduction to help lower your tax liability or offset any capital gain taxes incurred from trading. Its a win-win situation! All the charities listed below have been verified to be 501(c)(3) tax-exempt status.

Important Information Regarding Tax Deductions


You claim your tax deduction on Form 1040, Schedule A(PDF). This is found on Lines 16 through 19.

Rules for Claiming the Charitable Contribution Deduction

Your gift of cash or property must meet certain criteria in order to be tax-deductible.
  • You must actually donate cash or property. A pledge or promise to donate is not deductible until you actually pay.
  • You must contribute to a qualified tax-exempt organization. Charities will let you know if they have received their 501(c)(3) tax-exempt status. Some organizations are not required to obtain 501(c)(3) status from the IRS. These include churches and other religious organizations.
  • You must be able to itemize. Giving to charity is a great tax planning strategy, but it only works for people who are eligible to itemize their deductions.
  • You must meet record keeping requirements. This includes saving canceled checks, acknowledgment letters from the charity, and appraisals for donated property.

Keeping Records of Your Charity

Taxpayers are required to keep excellent records of their charitable contributions. Under the Pension Protection Act of 2006, you must keep written records of all cash donations. Donations of $250 or more will not be allowed as a tax deduction unless you have supporting documentation. Your records must indicate the name of the charitable organization, the date of your contribution, and the amount your contribution. This new record keeping requirement took effect beginning with the 2007 tax year.

Limits on the Charitable Contribution Deduction

Your charitable contribution tax deduction may be limited. There are limits specific to charitable contributions, and there are general limits on itemized deductions.

50%, 30%, and 20% Limits on Charitable Contributions

  • Generally, you can deduct cash contributions in full up to 50% of your adjusted gross income.
  • Generally, you can deduct property contributions in full up to 30% of your adjusted gross income.
  • Generally, you can deduct contributions of appreciated capital gains assets in full up to 20% of your adjusted gross income.
Charitable contributions in excess of these limits can be carried over to the following tax year. The excess contributions can be carried over for a maximum of five years.

Not Tax Deductible Contributions

Contributions are not tax deductible if given to any of the following:
  • Political parties, political campaigns, or political action committees.
  • Contributions given to individual people.
  • Fees or dues paid to professional associations.
  • Contributions to labor unions, chambers of commerce, or business associations.
  • Contributions to for-profit schools and hospitals.
  • Contributions to foreign governments.
  • Fines or penalties paid to local or state governments.
  • The value of your time for services rendered to a non-profit.




Recommended Charities


                                           

City of Hope


1500 East Duarte Road
Duarte, CA 91010
tel: (800) 720-6824
fax: (213) 241-7162
EIN: 95-3435919


Contributions Deductible


Mail donations to:
1055 Wilshire Blvd
12th Floor
Los Angeles, CA 90017


Contact Email
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 Founded in 1913, City of Hope is a world-class biomedical research, treatment and education institution. City of Hope is recognized worldwide for its compassionate patient care, innovative science and translational research, which rapidly turns laboratory breakthroughs into promising new therapies. City of Hope's physicians and scientists have been responsible for some of the most significant advances in modern medicine. They have offered insights that have reshaped the world's understanding of diseases. They have developed therapies that have improved millions of lives. They achieved scientific breakthroughs, set national standards, put their most creative thinking to the test, and succeeded.

The Rotary Foundation of Rotary International


One Rotary Center
1560 Sherman Avenue
Evanston, IL 60201
tel: (866) 976-8279
fax: (847) 328-8554
EIN: 36-3245072


50% Deductibility Limitation


Mail donations to:
14280 Collections Center Drive
Chicago, IL 60693


Contact Email

Visit Web Site

 Founded in 1917, The Rotary Foundation strives to enable Rotarians to advance world understanding, goodwill and peace through the improvement of health, the support of education and the alleviation of poverty. Rotary is a worldwide organization of more than 1.2 million business, professional, and community leaders. Members of Rotary clubs, known as Rotarians, provide humanitarian service, encourage high ethical standards in all vocations, and help build goodwill and peace in the world. Rotary's main objective is service - in the community, in the workplace, and throughout the world.
 Safari Club International Foundation

4800 West Gates Pass Road
Tucson, AZ 85745
tel: (800) 377-5399
EIN: 86-0292099

Contributions Deductible


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The Safari Club International Foundation (SCIF) funds and manages worldwide programs dedicated to wildlife conservation, outdoor education and humanitarian services. It works closely with Safari Club International chapters and members to advance hundreds of local, regional and global wildlife conservation projects each year. SCIF conducts and supports scientific and technical studies in the field of wildlife conservation and demonstrates the constructive role that hunting and hunters play in the conservation of wildlife; carries out and supports educational programs on conservation, ecology, and natural resource management; and supports programs to assist the disabled in enjoying sport hunting and to utilize the resources of the hunting community to aid those less fortunate.
 

World Resources Institute


10 G Street, NE
Suite 800
Washington, DC 20002
tel: (202) 729-7600
fax: (202) 729-7610
EIN: 52-1257057


50% Deductibility Limitation


Contact Email
Visit Web Site

Founded in 1982, the World Resources Institute (WRI) is an environmental think tank that goes beyond research to find practical ways to protect the earth and improve people's lives. WRI's mission is to move human society to live in ways that protect Earth's environment and its capacity to provide for the needs and aspirations of current and future generations. WRI's work is focused around four key programmatic goals, which include: reversing rapid degradation of ecosystems and assure their capacity to provide humans with needed goods and services; empowering people and supporting institutions to foster environmentally sound and socially equitable decision-making; protecting the global climate system from further harm; and harnessing markets and enterprise to expand economic opportunity and protect the environment.
 

Archaeological Conservancy


5301 Central Avenue, NE
Suite 902
Albuquerque, NM 87108
tel: (505) 266-1540
EIN: 95-3403273


50% Deductibility Limitation


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The Archaeological Conservancy, established in 1980, is the only national non-profit organization dedicated to acquiring and preserving the best of our nation's remaining archaeological sites. Based in Albuquerque, New Mexico, the Conservancy also operates regional offices in Mississippi, Maryland, Ohio, and California. Every day, prehistoric and historic archaeological sites in the United States are lost forever--along with the precious information they contain. Modern-day looters use backhoes and bulldozers to recover artifacts for the international market. Urban development and agricultural methods such as land leveling and topsoil mining destroy ancient sites. The Conservancy protects these sites by acquiring the land on which they rest, preserving them for posterity.
 

Association of Performing Arts Presenters


1211 Connecticut Avenue, NW
Suite 200
Washington, DC 20036
tel: (888) 820-2787
fax: (202) 833-1543
EIN: 39-1131995


50% Deductibility Limitation


Contact Email
Visit Web Site

The Association of Performing Arts Presenters develops and supports a robust performing arts presenting field and the professionals who work within it. We foster an appreciation for the performing arts among our members and their audiences; value the opportunity for members to share with and learn from one another, drawing upon their more than 50 years of collective wisdom; and believe the performing arts bridge differences among individuals, communities and cultures. The Association envisions a world where all people experience the transformative power of live performance and the performing arts presenting field is strong and vibrant - a world where performing artists are integral to all communities, where ideas circulate vigorously and freely, and where people from all cultures affirm and understand themselves and each other through the arts.
 

American Red Cross


2025 E Street, NW
Washington, DC 20006
tel: (800) 733-2767
TTY: (800) 220-4095
EIN: 53-0196605 


50% Deductibility Limitation


Mail donations to:
P.O. Box 4002018
Des Moines, IA 50340


Contact Email

Visit Web Site

 Since its founding in 1881 by visionary leader Clara Barton, the American Red Cross has been the nation's premier emergency response organization. As part of a worldwide movement that offers neutral humanitarian care to the victims of war, the American Red Cross distinguishes itself by also aiding victims of devastating natural disasters. Over the years, the organization has expanded its services, always with the aim of preventing and relieving suffering. Today, in addition to domestic disaster relief, the American Red Cross offers compassionate services in five other areas: community services that help the needy; support and comfort for military members and their families; the collection, processing and distribution of lifesaving blood and blood products; educational programs that promote health and safety; and international relief and development programs.