DONATIONS & BEQUESTS TO LCS |
During over fifty years of existence, the Lake Chapala Society has received many gifts and donations from its members and friends. The Society is able to offer its members and the local community many benefits as a result of these generous donations. A donor may make a donation in several ways and may attach conditions and obligations to the gifts. The Society may accept these gifts as long as the conditions and obligations fall under the Society’s objectives. Such donations can be deducted from Mexican taxes. There are a number of options available for making a donation under Mexican law. These include simple donations without specific conditions; more complex donations with specific conditions and legacies with and without specific conditions. A simple donation is a gift of a relatively small amount of money or property for general use or, perhaps, for a specific project or use. These types of donations can be made by going to the office or by speaking to an appropriate board member. LCS will give you a receipt for tax purposes. We highly recommend that donors obtain legal advice before creating a legacy or making a more complex gift with attached, specific conditions. The donor should also consult with the Society’s Board before structuring a gift with specific conditions or obligations to the Society. A Mexican attorney will help insure that donations meet requirements of Mexican laws. Depending on the source, and type of funds or property, the donor may also need to consult with attorneys in other countries. LCS now has made arrangements for U.S. citizens to realize the 501c3 tax-exempt status for their bequests and donations. The Donations Committee can be reached by e-mail at donations@lakechapalasociety.org. Your inquiries are welcomed. |