Frequently Asked Questions
Is the contribution email I receive my tax receipt?
Kadogo provides a consolidated contribution letter each January, which serves as an official acknowledgement of all contributions made to your personal charitable giving fund for the prior calendar year.
Should you need evidence of a contribution prior to January, emails stating that your contribution has cleared can also serve as an official acknowledgement letter of your gift.
Grant recommendation emails are not evidence of tax-deductible contributions, as only the donations made to your Kadogo account are tax-deductible. (Otherwise, donors would be “double-dipping” their gift, which is not permitted under US tax law).
Can Kadogo help maximize my tax deductions and benefits?
Contributions of appreciated securities that you have held for more than one year provide the greatest tax benefits. These contributions avoid the capital gains tax and should allow you to claim an itemized charitable deduction for the fair market value of the asset on your income taxes – up to 30% of your adjusted gross income (AGI). Your Kadogo Account also allows you to employ a strategy called bunching, whereby you can contribute significant assets to your fund to exceed the standard deduction during a particular year and hold the assets in your fund until you are ready to grant them to charities in subsequent years.