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LSDefine
Simple English definitions for legal terms
donation
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A quick definition of donation:
A donation is a gift given to help others. It can be money or something else that someone gives to another person or organization without expecting anything in return. Once the person or organization receiving the donation accepts it, it cannot be taken back. Sometimes, people can get a tax break for making certain types of donations.
A more thorough explanation:
A donation is a gift given to a person or organization, usually for a charitable purpose. It is a voluntary transfer of property, often money, from the donor to the recipient with no expectation of receiving anything in return.
For a donation to be considered valid, the donor must knowingly and intentionally give the property to the recipient, who must accept it. Once the donation is accepted, it becomes irrevocable.
Donations can be tax-deductible if they meet certain criteria set by the IRS.
- Donating money to a local food bank to help feed those in need.
- Giving clothes to a homeless shelter to help those without adequate clothing.
- Donating toys to a children's hospital to bring joy to sick children.
These examples illustrate the concept of a donation - giving something to someone else without expecting anything in return. In each case, the donor is giving something to help others in need, and the recipient is accepting the gift with gratitude.