this post was submitted on 17 Nov 2024
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[–] Bassman1805@lemmy.world 201 points 6 days ago (28 children)

Ah, this again.

The mega corporation did not receive any tax benefit from collecting donations. They are able to write off the amount of donations from their income, so that they aren't paying tax on the money they collected specifically to be donated.

  1. Company collects $1 donation from customer
  2. Company has $1 extra income
  3. Company donates $1 to charity
  4. Company writes that dollar off of their income.
  5. Company reports the exact same profit/loss as if they had not collected donations.
[–] danc4498@lemmy.world 51 points 6 days ago (12 children)

I assumed this was true also, but I also believe the company is receiving some sort of kick back from this otherwise they wouldn’t be doing it.

[–] zante 13 points 6 days ago (1 children)

It’s true but it’s not the full story .

Who gets to go the charity dinner and presents the check to the orphanage?

Who gets in Time magazine for “taking a stand” for corporate responsibility?

A corporation is not capable of benevolence. Give directly to the charity yourself, you’ll get a sticker and sometime a free pen.

[–] MajorHavoc@programming.dev 4 points 6 days ago* (last edited 6 days ago)

Give directly to the charity yourself, you’ll get a sticker and sometime a free pen.

Lol. I can confirm, it's true!

Joking aside, some of my most cherished possessions are hand-written thank-you notes from worthwhile causes that I support.

(Especially ones from children! "Donors Choose" is great when I need some crayon drawn notes in exchange for buying some school supplies.)

(And given the context, I should clarify, from my own money, not someone else's.)

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