Some donations to Cleveland kidnapping victims not tax deductible
Wed, 02 Oct 2013 01:34:12 GMT —
The fund set up to receive donations to assist the three women who were kidnapped and raped in a Cleveland house over a decade has taken in more than $1.4 million, but confusion exists on whether the donations are tax deductible.
The Plain Dealer in Cleveland
reports only some of the contributions to the Cleveland Courage Fund can be reported for tax purposes.
The Cleveland Foundation and KeyBank set up accounts benefiting the fund within days of the women's escape from their captor's home.
The newspaper reports while donations given to the fund through the foundation are tax-deductible because the organization is a nonprofit, those made to KeyBank are not.
KeyBank has now become the sole collector as the foundation stopped receiving donations for the fund on June 30.