The board of directors of Orange Corporation, a calendar year taxpayer, is holding its year end meeting on December 28, 2010 One topic on the board

The board of directors of Orange Corporation, a calendar year taxpayer, is holding its year end meeting on December 28, 2010 One topic on the board agenda is the approval of a $25,000 gift to a qualified charitable organization. Orange has a $20,000 charitable contribution carryover to 2010 from a prior year. Identify the tax issues the board should consider regarding the proposed contribution