The IRS has announced the higher limits for tax years beginning in 2024 for the value of “insubstantial benefits” that may be received by a donor in return for a contribution without causing the contribution to fail to be fully deductible. When originally enacted, the Tax Code provided two calculations for determining that contributions to a fund raising campaign would be fully deductible if the return benefits would be insubstantial as indexed annually for inflation. In the first calculation, a donor could receive token items like bookmarks, calendars, mugs, posters or tee shirts and take a full deduction if the cost (and not the fair market value) of such items was $5 or less and the...