Founded | May 28, 1997 [1] |
---|---|
Founder | Madonna W. Coffman [2] |
Type | 501(c)(3) [3] |
65-0755522 [4] | |
Legal status | Nonprofit organization |
Purpose | To provide custom-made hair prosthetics to disadvantaged children to age of twenty-one, who suffered hair loss as a result of various medical conditions. [3] |
Headquarters | West Palm Beach, Florida, U.S. [3] |
Coordinates | 26°40′32″N80°03′06″W / 26.675636°N 80.051663°W |
Madonna W. Coffman [3] | |
Linda Borum [3] | |
Revenue (2018) | $513,103 [3] |
Expenses (2018) | $724,897 [3] |
Employees (2017) | 6 [3] |
Volunteers (2017) | 77 [3] |
Website | locksoflove |
Locks of Love is a 501(c)(3) nonprofit charity that provides custom-made hair prosthetics to disadvantaged children up to the age of 21 who have suffered hair loss as a result of medical conditions, such as alopecia, burn trauma, and cancer treatment. [3] They are provided to the children free of charge, [5] and they may receive a new one every two years until they turn 21 years old. [6] Locks of Love says that, despite rumors to the contrary, children and their families are never charged for the hair prosthetics they receive. [5] Locks of Love accepts donations of human hair, and it also accepts financial donations. [6]
Locks of Love was founded by Madonna W. Coffman on May 28, 1997. [1] [2] Coffman was a registered nurse who had suffered from alopecia in her twenties. Coffman's daughter also had alopecia and lost all her hair at the age 4. Locks of Love received a determination of its 501(c)(3) status from the Internal Revenue Service in December 1997. [7] By September 2006, Locks of Love had provided about 2,000 wigs to recipients completely free of charge. [8]
Financial donations to Locks of Love are tax-deductible as charitable contributions to the extent of the law. [9] [5] The Internal Revenue Service considers hair to be a body part, and donations of body parts are not considered tax deductible by the Internal Revenue Service. [9] The cost of the haircut, however, may be a tax-deductible charitable contribution. [9]
The best quality hair donated to Locks of Love is sent to a wig manufacturer, Taylormade hair Replacement in Millbrae, California. The highest quality long hair is used to make a wig for a child. Gray hair, overly processed hair, too-short hair, bleached hair, and hair that is otherwise not high enough quality for a child's wig is sold, and the proceeds are used to further the organization's mission, such as grants for medical research into alopecia. [8] In 2007, Locks of Love said that about 80 percent of the hair donated to it is not suitable to be made into a child's wig. [8]
In 2013, Forbes and The Huffington Post reported that up to US$6 million-worth of hair donations are unaccounted for by the charity each year. [10] [ user-generated source? ] [11] Snopes pointed out that the discrepancies can be attributed to the difficulty of valuing hair and that Locks of Love's tax filing shows no income that would result from black market hair sales. [12]
During its 2018 fiscal year, Locks of Love received $513,103 of revenue, and it incurred $724,897 of expenses. [3]
After launching aboard the Space Shuttle Discovery, astronaut Sunita Williams arranged to donate her ponytail to Locks of Love. Fellow astronaut Joan Higginbotham cut her hair aboard the International Space Station, and the ponytail was brought back to Earth by the STS-116 crew. [13]
All-American football player and Chicago Bears first-round draft pick Gabe Carimi's maternal uncle suffered from leukemia as a child, underwent chemotherapy while he was in second grade, and lost his hair in the process. At nine years old, his uncle died. He was mentioned often in family discussions. [14] Carimi thought he would do something "that wouldn't take a lot of my time but would help other people". He grew his hair for 20 months, until it was long enough to donate to Locks of Love in 2010. [14]
Professional wrestler The Honky Tonk Man has stated that he donates his hair to Locks of Love once a year. [15]
National Hockey League player George Parros has grown his hair long since the start of his professional hockey career, so he can donate it to Locks of Love. [16]
A hairstyle, hairdo, haircut or coiffure refers to the styling of hair, usually on the human head but sometimes on the face or body. The fashioning of hair can be considered an aspect of personal grooming, fashion, and cosmetics, although practical, cultural, and popular considerations also influence some hairstyles.
A charitable trust is an irrevocable trust established for charitable purposes. In some jurisdictions, it is a more specific term than "charitable organization". A charitable trust enjoys varying degrees of tax benefits in most countries and also generates goodwill. Some important terminology in charitable trusts includes the term "corpus", referring to the assets with which the trust is funded, and the term "donor," which is the person donating assets to a charity.
Hair loss, also known as alopecia or baldness, refers to a loss of hair from part of the head or body. Typically at least the head is involved. The severity of hair loss can vary from a small area to the entire body. Inflammation or scarring is not usually present. Hair loss in some people causes psychological distress.
Under United States tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable income, and are claimable in place of a standard deduction, if available.
A donation is a gift for charity, humanitarian aid, or to benefit a cause. A donation may take various forms, including money, alms, services, or goods such as clothing, toys, food, or vehicles. A donation may satisfy medical needs such as blood or organs for transplant.
Charitable contribution deductions for United States Federal Income Tax purposes are defined in section 170(c) of the Internal Revenue Code as contributions to or for the use of certain nonprofit enterprises.
Car donation is the practice of giving away unwanted used automobiles or other vehicles to charitable organizations. In the United States, these donations can provide a tax benefit to the donor.
The Hunger Site is the original click-to-donate site created in 1999 that gets sponsorship from advertisers in return for delivering users who will see their advertisements. The Hunger site encourages visitors to click a button on the site, once per day, asserting that each unique click results in a donation "equivalent" to 1.1 cups of food. The Hunger Site is not a charity; it is a for-profit corporation which donates the revenue from its advertising banner to selected charities. Currently, these are Millennium Promise, Food Recovery Network, Partners in Health, Feeding America and Mercy Corps.
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being.
A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code and is one of over 29 types of nonprofit organizations exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well. 501(c) organizations can receive unlimited contributions from individuals, corporations, and unions.
George James Parros is an American former professional ice hockey player who played nine seasons in the National Hockey League (NHL), who currently serves as the head of the NHL's Department of Player Safety, with the title of senior vice president of player safety. In this role Parros is tasked with determining the suspensions or fines handed out for various on-ice incidents in the NHL. His primary role on the ice was that of an enforcer. Parros was part of the 2007 Stanley Cup winning Anaheim Ducks.
In the United States, a donor-advised fund is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account is invested, and how it distributes money to charities.
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 501(c) nonprofit organizations in the United States.
A donor managed investment account is a charitable giving mechanism in which donors receive a full tax deduction at the time they fund the DMI account, but retain investment management rights over the account, and can request donations from the account to charities.
The Fundación Teletón is a Mexican annual 24-plus-hour TV and radio broadcast in Mexico, started in 1996, to raise money for children's rehabilitation centers. The Mexican Teletón is produced by Televisa and more than 500 Mexican and foreign media; more than 100 commercial firms sponsor the event. Teleton's mission is "to provide knowledge about physical disabilities, giving a strong message about respect, equality and support to people in these conditions". Teletón is the world's largest private medical unit and rehabilitation center for children.
A private foundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes.
Hernandez v. Commissioner, 490 U.S. 680 (1989), is a decision of the United States Supreme Court relating to the Internal Revenue Code § 170 charitable contribution deduction.
A charitable organization in Canada is regulated under the Canadian Income Tax Act through the Charities Directorate of the Canada Revenue Agency (CRA).
The National Center for Charitable Statistics (NCCS) is a clearing house for information about the nonprofit sector of the U.S. economy. The National Center for Charitable Statistics builds national, state, and regional databases and develops standards for reporting on the activities of all tax-exempt organizations.
A flow-through share (FTS) is a tax-based financing incentive that is available to, among others, the mining sector. A FTS is a type of share issued by a corporation to a taxpayer, pursuant to an agreement with the corporation under which the issuing corporation agrees to incur eligible exploration expenses in an amount up to the consideration paid by the taxpayer for the shares.