The Upper Valley Economic Council (UVEC) is an organization of community and business leaders in Sherman and Stacyville. We are here to provide start-up, expansion and relocation assistance to the business community and to assist of the Municipalities of Stacyville & Sherman with funding resources for their Communities and Organizations.
Donations to UVEC are tax deductible expenses.
"You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions." (IRS Publication 78)
Anyone interested in donating food, goods, etc to UVEC can deduct their donation from their taxes.
The Upper Valley Economic Corporation has 501(c)(3) tax-exempt status.
You must actually donate cash or property. A pledge or promise to donate is not deductible until you actually pay.
You must contribute to a qualified tax-exempt organization. Charities will let you know if they have received their 501(c)(3) tax-exempt status. Some organizations are not required to obtain 501(c)(3) status from the IRS. These include churches and other religious organizations.
You must be able to itemize. Giving to charity is a great tax planning strategy, but it only works for people who are eligible to itemize their deductions.
You must meet record keeping requirements. This includes saving canceled checks, acknowledgment letters from the charity, and appraisals for donated property.
UVEC has donor receipt forms at our Office Location.