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Mansfield Teacher's Charitable Work Leads To $16K Tax Bill

UpdatedMon, Apr 26, 2021 at 8:30 am ET
Replies(17)
Louis Goffinet raised more than $40,000 to help families during the coronavirus pandemic and said he received a hefty tax bill saying the money counted as income. (Patch graphic)
MANSFIELD, CT When the pandemic hit last year, a Mansfield teacher stepped up, offering to go grocery shopping for family and friends.
One family reached out to Louis Goffinet saying they were tight on money after being laid off, according to Fox 61. Goffinet started a fundraiser with a $200 goal to help the family. That goal was quickly smashed and people donated generously.
Goffinet eventually raised more than $40,000. He used the funds for 150 grocery trips, 20 gift cards, and Thanksgiving dinners for 30 local families. Goffinet, 27, an eighth grade math and science teacher, called the experience the most rewarding thing I ve ever done, according to CBS News. ....

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The Day - Conn. teacher may avoid tax hit for raising $40,000 to help others buy groceries

A Connecticut teacher who raised more than $40,000 to help people buy groceries during the pandemic may not be hit with a big tax bill after all. ....

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Fundraising on Facebook, Venmo, GoFundMe: What you need to know

And GoFundMe states its fundraisers are usually considered to be personal gifts which, for the most part, aren’t taxed as income, but there are some exceptions.
GoFundMe adds there may be particular case-specific instances where the income is, in fact, taxable for organizers that depend on the amounts received and how the funds are used.
Rick Cohen, chief operating officer and spokesman for the National Council of Nonprofits, hopes Louis Goffinet, the teacher who raised over $40,000 in a fundraiser on Facebook to help buy groceries for neighbors struggling during the pandemic, doesn t have to pay the price for simply doing a good deed. Cohen said that using third-party platforms like Facebook to get funds meant Goffinet actually received personal income since he doesn t have an accredited nonprofit and the donations are currently not considered tax-deductible. ....

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Could your Facebook fundraiser or GoFundMe land you a big tax bill? Here's what to know before you start one

Could your Facebook fundraiser or GoFundMe land you a big tax bill? Here's what to know before you start one
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.

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So you raised money for others during the pandemic. Here's how to handle the tax bill you're about to get

elisfkc2 / Flickr / CC BY-SA 2.0
Louis Goffinet never imagined that raising tens of thousands of dollars to help his community through the Covid-19 pandemic could cost him financially.
The 27-year-old middle school teacher from Mansfield Center, Connecticut, started making grocery runs last April for elderly neighbors who didn’t feel safe doing so themselves. Soon, he got a similar request from a family who had recently experienced job layoffs.
Goffinet saw an opportunity to ease the family’s financial burden, and appealed to his community through a Facebook fundraiser to cover the cost of the grocery bill.
The goal was to raise $200. ....

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