SUPPORT
We support talented individuals with diverse practical experience, mentoring programs from experts, and a global human network to help them advance into the wider world.
The International Leadership Association, a non-profit organization, is a government-certified designated donation organization approved by the Ministry of Strategy and Finance in accordance with Public Notice No. 2015-111. Your donation will be processed as a designated donation and will be eligible for tax deductions.
Q. What is a designated donation?
A. This is a donation determined by the President in consideration of public interest, such as social welfare, culture, arts, education, religion, charity, and academics, among the donations made by domestic corporations in each fiscal year.
※Related regulations 1. Article 24 of the Corporate Tax Act 2. Article 36 of the Enforcement Decree of the Corporate Tax Act
Q. What are the benefits of making a designated donation?
A. When a corporate business makes a designated donation, it can deduct up to 10% of its income as a deduction under the Corporate Tax Act, thereby reducing its corporate tax. Any amount exceeding the deduction limit can be carried forward for a five-year deduction. This means that the deduction can be claimed for six years, starting from the year in which the donation was made.
※What is expense recognition? For example, if a company spends a significant amount of money on entertainment expenses, such as operating expenses, it's clearly an expense for the company, but a certain portion is not recognized as an expense. The National Tax Service has the authority to recognize expense recognition. Therefore, in the term "expense recognition," "expense" refers to the expense itself, while "recognition" refers to the act of the National Tax Service deeming it a "legitimate expense."
Q. How much is the corporate tax saved?
A. Tax deduction for donations
Deduction limit: 30% of income (individuals), 10% of income (corporations)
· Donation Code: 40 (Designated Donation)
· Total standard: Donations from January to December of the current year
· Scope of dependents: Employees can deduct donations made by spouses (annual income of 1 million won or less) and children (under 20 years old) who are eligible for the basic deduction, as well as direct ascendants (over 60 years old with annual income of 1 million won or less) and siblings (under 20 years old and over 60 years old with annual income of 1 million won or less) who are eligible for the basic deduction.
Q. What is the designated donation procedure?
A. Notify the International Leaders Association of your intention to donate → Create a designated donation form → Deliver the donation to the International Leaders Association → Issue a donation receipt
Q. How are designated donations used?
A. It is used to nurture the next generation of international leaders, contribute to the international community, and promote international exchange among members.
* Scholarship program for nurturing future talent
* Global Human Network and Private Diplomacy
* Developing various social contribution projects
The International Leadership Association's designated donations are strictly managed through transparent reporting of donation execution performance.
individual donors
When filing your year-end tax settlement or comprehensive income tax return, you can deduct 15% of your donation amount from your tax return (if the donation amount exceeds 20 million won, you can deduct 30% of the excess amount from your tax return).
corporate donors
Expenses are recognized within the range of 50% of the annual income amount for the current fiscal year, and amounts exceeding the expense recognition limit can be carried forward for deduction for 5 years.
ways you can donate:
In
Person
You can visit the International Leadership Association at any time. Just call the person in charge and make an appointment.
Public Interest Report
This is a public interest reporting agency for violations of public interest by designated donation organizations.
ONLINE
info@iluworld.org
In addition to our website, we also communicate with our donors through social media. Thank you for your interest.
- You can apply for regular donations through the website (mobile web) or by phone.
BY
For further inquiries, please contact the International Leadership Association Donor Relations Team for detailed information. Thank you.
• Email: nanum@iluworld.org
ONLINE
info@iluworld.org
In addition to our website, we also communicate with our donors through social media. Thank you for your interest.
- You can apply for regular donations through the website (mobile web) or by phone.
BY
CMS
CMS Automatic Transfer: This is a method in which donations are automatically transferred from your bank account every month.
- Card: This method automatically pays your donation via card (credit or check cards accepted). Donations will not be processed if the card is reissued or expires.