What is it called when you donate money to a political campaign?
Campaign finance, also known as election finance or political donations, refers to the funds raised to promote candidates, political parties, or policy initiatives and referenda.
What is an in-kind contribution?
An in-kind contribution is a contribution of a good or a service other than money. Some examples include: voluntary labour (for example, painting work) donated goods (for example, kitchen equipment) donated services (for example, professional advice from an architect)
Is it illegal to donate to a political campaign in someone else’s name?
In the United States, making a political contribution in another person’s name is illegal, as is agreeing to be the named donor with someone else’s money. In federal elections in the United States, straw donor schemes are illegal under 52 U.S.C.
Can a company donate to a political campaign?
Campaigns may not accept contributions from the treasury funds of corporations, labor organizations or national banks. This prohibition applies to any incorporated organization, including a nonstock corporation, a trade association, an incorporated membership organization and an incorporated cooperative.
What is campaign money used for?
Campaign funds may be used to make donations or loans to bona fide charitable, educational, civic, religious, or similar tax-exempt, nonprofit organizations as long as the donation or loan is reasonably related to a political, legislative, or governmental purpose.
What are examples of in-kind donations?
In-kind contributions are donations of goods, services or time—instead of cash. Tangible goods include things like equipment, books, cars, clothing, furniture and supplies. Goods may also be intangible, such as advertising, patents, royalties and copyrights.
What are examples of in-kind support?
When someone volunteers to give you a service, supplies, or free help, you’re receiving in-kind support. If another organization provides free-of-charge office equipment or meeting space, that’s in-kind support. There are three basic types of in-kind donations: goods, services, and people.
Can you make a donation in someone else’s name?
The IRS rules do not directly address making a donation in the name of another person. The rules do, however, make it very clear that the person claiming the deduction based on the donation must have proof of the value of the donation.
How do PACs work?
In the United States, a political action committee (PAC) is a 527 organization that pools campaign contributions from members and donates those funds to campaigns for or against candidates, ballot initiatives, or legislation.