It's getting time to get the new year started and old things sorted out especially in the financial world. The magazine Model Aviation has for a long time contained a statement that is not all-together true and should be revised. Since the AMA CFO usually takes a break for "Tax-Time" I always wondered just when he would get around to reducing that potential liability against AMA. Well friends and neighbors, I don't think he reads the magazine either.

So, in the Jan. '05 issue, page 188 are these statements. >>>" Did You Know... That any donation you make to AMA is tax- deductible? AMA is a 501(c)(3), not-for-profit association. This means that any funds you donate beyond your regular membership dues can be deducted from your taxes. Please considering donating to AMA. Your gift will help us continue our efforts to improve your organization." <<<<

There is no mention made of the limitations on such donations. The donations are of course applicable only to those that itemize their deductions vice taking the standard deductions.
In addition the main fallacy is that the deduction is only from your taxable income and NOT from your taxes.
Certainly your tax obligation is reduced by your tax bracket percentage of the donation amount, but to tell people "....can be deducted from your taxes." is IMO stretching things a bit, especially so in an association's official informational publication.

So, I would ask our AMA EVP (CFO) if he performs such an operation. Do you, Sir, compute your taxes due, then subtract any donation from those computed taxes and submit that sum to the IRS? [:-]