Ministries Community Food Bank

Ministries Community Food Bank

Posted in the Ravenna Forum

Michael Williams

Howe, TX

#1 Jul 28, 2013
Did they find a new place to work out of? No mention of them anymore.
fyi

Texarkana, TX

#2 Jul 28, 2013
Last time I heard anything they were following up on a couple of options. Sounded promising that something would work out.
Michael Williams

Howe, TX

#3 Jul 28, 2013
fyi wrote:
Last time I heard anything they were following up on a couple of options. Sounded promising that something would work out.
The timeline to find something was June 30, just haven't heard anything else. It's just sad to me that all these empty buildings around to use as a loss on taxes someone would loan them a place and still use it as charity on taxes. Really don't understand the thinking behind this, being in the Bible Belt.
fyi

Texarkana, TX

#4 Jul 28, 2013
To be fair, the Ministries had a list of what they needed. Not all empty buildings around here fit the requirements. Also, I worked for a nonprofit that was in donated space at one time. Owner told me he actually couldn't write it off as a donation for some reason, according to his accountant. IRS has all kinds of rules about unkind donations. I certainly hope that they can continue their important work.
fyi

Texarkana, TX

#5 Jul 28, 2013
fyi wrote:
To be fair, the Ministries had a list of what they needed. Not all empty buildings around here fit the requirements. Also, I worked for a nonprofit that was in donated space at one time. Owner told me he actually couldn't write it off as a donation for some reason, according to his accountant. IRS has all kinds of rules about unkind donations. I certainly hope that they can continue their important work.
Inkind donations not unkind - darn autocorrect!
Michael Williams

Howe, TX

#6 Jul 28, 2013
fyi wrote:
<quoted text>
Inkind donations not unkind - darn autocorrect!
If a person donates a building to a legal charity they can write the rent off as charity on their taxes, there must be more to this Ministries than meets the eye.
Resident

Haslet, TX

#7 Jul 28, 2013
If you are so worried about 33, why don't you contact them directly. Looks like toe you are just trying to start more petty nonsense. What's the matter, Susie got you all in a tizzy today? Poof, bam, shabam!
Really

United States

#8 Jul 28, 2013
If use of a building is donated there would be no rent to write off. You would think the owner would be able to write it off as to what they could charge had the space been rented. However i am no tax expert but i am sure they will find a space.
Michael Williams

Howe, TX

#9 Jul 28, 2013
Resident wrote:
If you are so worried about 33, why don't you contact them directly. Looks like toe you are just trying to start more petty nonsense. What's the matter, Susie got you all in a tizzy today? Poof, bam, shabam!
Can't contact anyone that's out of business and don't know where you got the Susie deal, she is Rev. Susan or Susan Williams not Susie that's a 50's expression.
fyi

Texarkana, TX

#11 Jul 28, 2013
From the IRS Publication 526:

Partial Interest in Property

Generally, you cannot deduct a charitable contribution of less than your entire interest in property.

Right to use property. A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible.
Example 1.

You own a 10-story office building and donate rent-free use of the top floor to a charitable organization. Because you still own the building, you have contributed a partial interest in the property and cannot take a deduction for the contribution.
fyi

Texarkana, TX

#12 Jul 28, 2013
And I think you could contact any of the board members to find out what's going on. They still have a website posted, which includes names of board members. www.fccmfood.org
triedntrue

Texarkana, TX

#13 Jul 29, 2013
I am still old school and I believe that God would see to it that anyone willing to donate/give space to something such as this would be 'taken care' of?
Michael Williams

Howe, TX

#14 Jul 29, 2013
fyi wrote:
From the IRS Publication 526:
Partial Interest in Property
Generally, you cannot deduct a charitable contribution of less than your entire interest in property.
Right to use property. A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible.
Example 1.
You own a 10-story office building and donate rent-free use of the top floor to a charitable organization. Because you still own the building, you have contributed a partial interest in the property and cannot take a deduction for the contribution.
That isn't right, kinda messes up the charity giving, I could understand a part but if you donate the whole building to a legal charity you should be able to deduct the rent you are losing. Really oxymoron you can deduct it as a loss but not as a charity, doesn't make sense.

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