Charitable Donations Quiz: https://districtcapitalmanagement.com

What is the average amount donated to charity per year by an individual?

• $22,484

• $5,931

• $4,371

• $1,550

What percentage of income do people earning under $15,000 donate to charity?

• 5%

• 8%

• 13%

• 3%

What is the recommended starting percentage of income to budget for charity?

• 5%

• 1%

• 10%

• 3%

What is the maximum percentage of AGI that can be deducted for cash donations to public charities?

• 50%

• 30%

• 20%

• 60%

Which of the following donations is NOT tax-deductible?

• Donation to a public charity

• Donation to a church

• Donation to a political campaign

• Donation to a 501(c)(3) organization

What is the standard deduction amount for a single filer in 2025?

• $15,000

• $14,600

• $30,000

• $22,500

What is the percentage of income given to charity by those earning $100,000-$199,999?

• 7%

• 5%

• 8%

• 3%

What is the IRS limit for deducting appreciated asset donations?

• 60% of AGI

• 20% of AGI

• 50% of AGI

• 30% of AGI

What should you do if your charitable contributions exceed the IRS limits?

• Donate less next year

• Carry forward the excess for up to five years

• Ignore the excess

• Claim them all in the current year

What is a donor-advised fund?

• A fund that is only for political donations

• A fund managed by the IRS

• A fund that does not offer tax benefits

• A fund that allows donors to recommend grants