Yes. There's a limit on how much you can deduct, but it's pretty high. The limitation applies to cash and non-cash donations.
The basic rule is that your contributions to public charities, colleges and religious groups can't exceed 50 percent of your Adjusted Gross Income (AGI). The caps are a bit lower for gifts to other types of nonprofits. When it comes to gifts of appreciated property, the limit drops to 30 percent of AGI. If these restrictions limit your write-off in the year of the gift, the excess deduction carries over to the next year.
Also, keep in mind that you can't write off a contribution to the extent that you get something in return. For example, if you buy a $50 ticket to a fundraising dinner at a church, but the cost of the dinner is $20, you can deduct $30. For donations of more than $75, the nonprofit must give you a written statement telling you the value of what you received in return and reminding you that you can't deduct that portion of your contribution.
There's also a special rule for folks who donate to colleges and universities and receive the right to buy tickets to school athletic events: They can deduct only 80 percent of their donation.
