What to Know About Donating Stocks or Mutual Funds

While volunteering is not something for everyone, there are now many more ways to give than perhaps ever before. In this day and age most people are proud to speak of their investment portfolio because it reflects a mindfulness of how to use existing capital to make more money and has become very popular among workers who want to plan for their future and/or supplement their income. If you are lucky enough to be someone who is successful at investing, consider that you can now use that skill to make a difference in your community while also enjoying the personal growth and rewards of having cared about the needs of those whom are suffering.

Additionally, donating stocks and mutual funds offers certain tax benefits that you may or may not realize. For example, if you find that you have some shares that pay low dividends or have hit their maximum value and you want to eliminate them, you can donate them without having to pay a capital gains tax. An important thing to know is that the actual shares must be donated as opposed to the proceeds from the sale of shares, as this will change the nature of the donation and affect the eligibility for tax benefits. Donations can also be structured to bring about certain tax or estate benefits, depending on what you would like to donate and the specific results you would like to see.

Knowing your own expertise is one thing, but also be sure that the charity to which you donate is set up so that you will receive the maximum tax deductions for your donation. One good way to check an organization’s legitimacy is by finding out whether they are an Officially Recognized IRS 501 (c) (3) Charity. Most charitable groups will have an easy-to-find web site and if they are officially recognized by the IRS, then this information should be advertised in a prominent spot as a selling point for newcomers.

Another important thing to look for is a charity that has made the process easy and free of complications. You should not have to interrupt your schedule for unnecessary meetings or paperwork that could be prevented by dealing with a reputable business that has experience with such transactions and will handle the legwork for you. The process should be as simple as providing your broker’s name and contact information, and the names and numbers of shares you wish to donate. Again, beware of any transaction that gets to be cumbersome or time-consuming, as this means that the group has not done their share of the work and may not be very adept at using your donation to its maximum potential.

Donating Stocks or Mutual Funds to Volunteers of America

            By donating stocks or mutual funds to Volunteers of America, you will have the comfort and satisfaction of knowing that you will receive the maximum tax deduction available, and that .88 cents of every dollar donated goes directly toward funding that helps veterans, children, families, seniors, and persons with disabilities. A quick visit to www.voagno.org or a phone call to (504) 482-2130 will show you that Volunteers of America Greater New Orleans is an Officially Recognized IRS 501 (c) (3) Charity and their experts have done all the preparation needed to guide you through your donation with a simple exchange of information. Donations can also be made by fax or mail; just use the contact information above and make a difference in someone’s life today!

Tips for Avoiding Scams When Donating a Car or other Vehicle:

When donating a car or other vehicle such as a truck, motorcycle, RV or boat, the most important thing to know is that you should never make your donation through a third party. Anyone can claim to be collecting vehicles on behalf of a reputable organization and may even go so far as to offer rewards, tax vouchers or other benefits for your donation. Reputable charities do not send representatives on foot to canvass neighborhoods for unwanted vehicles. The process of donating securely is quite simple but, it is not standard practice to utilize door-to-door solicitors!

Before donating anything at all, you should always be prepared to do some basic research on your chosen organization. Legitimate charities have web sites with lots of evidence of the work they do. You should be able to tell within a few minutes which populations are receiving the benefits of the organization, which programs they offer, where their office is located, and some easily-verifiable history of their accomplishments. Remember, a real charity seeks to promote their achievements, not hide them. Beware of an organization that isn’t boasting about their success!

Another red flag to look for is how easy or difficult it is to find out what percentage of donations collected actually goes directly to people in need. The law does not stipulate just how much of amounts collected must be given to the organization’s recipients. That means that a group who call themselves a charity can actually give as little as 1% of their donations to people in need of assistance. In order to know for certain that your gift reaches the people who need it, remember that a legitimate and reputable charity will want to advertise their good work. You should be able to discern quite easily what percentage of donations reaches their targeted populations. Also keep in mind that this information should appear in a public format and not just something their representative said or other word-of-mouth claim.

Finally, any organization accepting donations and claiming to provide charitable assistance to people in need should be officially recognized by the IRS as a 501 (c) (3) charity. Again, charities that are reputable and secure will want to advertise this information in order to assure newcomers that their work is honest. You should not have to search very hard in order to find this verification and it should be presented in a public format. Look for charities that operate locally so that you can follow up on their activities and campaigns more easily. Most cities and smaller rural areas have at least a few good charities from which to choose. If you know what to look for and how to spot any suspicious claims or lack of information, you should be able to find an organization to whom you can donate your car or other vehicle securely.

Donating a Car or Other Vehicle in the New Orleans Area:

If you live in the New Orleans area and would like to donate your car or vehicle, look no further than Volunteers of America Greater New Orleans. Donating a car can be handled in a couple of easy steps and your donation will be fully tax deductible, with the receipt being mailed within 24 hours. Whether the car or vehicle still runs or not, pickup is free of charge. Volunteers of America is also an Official IRS 501 (c) (3) Charity that gives an average of .88 cents of every dollar collected to those in need, so you never need to worry about scams. All you need is the keys and title of ownership to make your secure donation today. Visit www.voagno.org or call (504) 525-2179.

How to Choose the Right Charity for a Will Bequest

Before you begin, be prepared to do a little light internet research. There are many worthy causes from which to choose and you want to select the one that carries the most meaning for you. However, you also need to know that the charity organization you choose has a solid background with legitimate achievements. In this day and age, a charity that does not have an easily accessible web site will not make it very far. Promotion and awareness of their cause is absolutely vital to the success of any charitable objective, so a simple keyword search using terms like ‘Charity Giving’ or ‘Will Bequest’ should bring up several good choices immediately.

Another thing you’ll want to look for is how long the group has been around and what are some of their success stories. Legitimate charity organizations will want to boast about these things, so keep that in mind as you conduct your research. It’s usually a good idea to start with a group that has a local office so that you can more readily follow along with what they are doing. For many donors, this is also done out of a sense of loyalty to one’s community. If you are looking for ways to help veterans or foster children, you should be able to find a group that supports them in your area. Most national campaigns have offices in various cities all over the country, so don’t be discouraged! There are many sound organizations that help a long list of populations in need and they are eager to tell of their success!

When choosing which group is right for you there are two very important things you should know: first, if they are officially recognized by the IRS as a 501 (c)(3) charity, as this will guarantee the security of your donation, and second, what percentage of their collections go toward they people they serve. This second piece of information is very important because there is no legal limit to how little a charity has to use actually helping others. This means that that actual amount given to recipients could be as little as 1% of all monies collected. The fact that charities are not obligated to give out this information will actually help you by looking out for groups that either minimize or ignore completely this telling detail. A charity that is truly legitimate will be proud of what they are doing and should volunteer this information as a selling point!

Create Your Legacy by Making a Will Bequest to Volunteers of America New Orleans

            Volunteers of America New Orleans has been proving aid and support to southern Louisiana residents for over 100 years. Visit Volunteers of America to learn about their programs that fund housing for veterans, mentors for children, food for families living in poverty, programs for persons with disabilities, and much more! An average of .88 cents of every dollar collected goes directly toward funding their many invaluable programs. Volunteers of America New Orleans will also guarantee that you receive the maximum tax benefits available for your donation, and their experienced staff can help you make a will bequest that helps as many people as possible while allowing you to choose what you would like to give, how you’d like to give it, and to whom it will be given. You can change someone’s life today! Call (504) 482-2130, or go to www.voagno.org and get started!

Vehicle Donation Made Easy

Charities realize that you’re a busy person, so they’re making it simpler than ever for you to give your car, truck, boat, RV or motorcycle to a good cause. Once you’ve decided to donate your vehicle, it’s time to decide which charity you would like to support with your gift. It will help to research how your charity plans to use your donation, in order to make sure the maximum amount of your gift is going to help people in need. Watch out for online scam sites that offer to collect your car for charity; sites like this donate a portion of the proceeds to good organizations, but keep most of the money for themselves.

After choosing a charity, it’s time to contact them and tell them about your wish to donate your vehicle. Different organizations offer a variety of ways to donate cars, including donating by fax, phone, mail, email and in person. A popular New Orleans’ based charity organization, the Greater New Orleans Volunteers of America, even offers donors the unique ability to donate a car online using a simple form.

There are several things you need to know in advance of giving your car to charity. First, how much is your car worth? This information is helpful for both you and the charity, as it will help give them an idea of how many people they can help with your donation, while allowing you to anticipate how much you can write off as a tax deduction. Second, what’s your preferred mode of communication? If you don’t have access to a fax machine, then donating a car by fax will obviously not be the best choice for donation method. No matter what method you choose, most charities will have a representative available by phone to help you through the donation process.

Once you’ve completed the initial donation paperwork, it’s time to get your car ready to go! Clean out any garbage or personal effects, making sure to check the glove compartment, ash tray, consoles, floorboards and trunk. Coordinate with the charity organization to decide on a time when they will come and collect your car, then leave the keys, owner’s manual and title information on the driver’s seat or in another place that the organization’s driver will easily find them. You might also want to check with the charity to find out if you should remove the license plates from the vehicle, as rules on this differ by state.

Where To Donate A Car In New Orleans

If you’re looking for a trustworthy organization that accepts car donations in New Orleans, the Greater New Orleans Volunteers of America is a great charity to choose. The VOA serves kids, families, recovering drug addicts, the homeless, disabled persons, veterans, and the elderly in communities across 16 Louisiana parishes. Visit www.voagno.org or call (504) 482-2130 to learn how to donate your vehicle.