Add to your Wealth by Donating Stocks or Mutual Funds

Brent Pourciau — Fri, 16 Mar 2012 18:19:30 +0000

Everyone has something to offer, and philanthropy is as intertwined with the human experience as work itself. The deep satisfaction of helping another person is perhaps the genesis of the expression, ‘Giving and receiving are the same,’ because the experience is one of humanity at its finest. Donations are now as diverse as donors themselves and can range from volunteer services to vehicles to life insurance or property. Another exciting option is to donate stocks or mutual funds. If you are considering becoming a charity donor and you are fortunate enough to have done well with your investments, then you can use that talent to enrich your own life while helping others.

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!

Ways To Donate A Vehicle To Charity

Brent Pourciau — Tue, 07 Feb 2012 16:48:12 +0000

Are you thinking about donating your car or truck to a local charity, but a little confused on what steps to take? Giving a vehicle to a charitable organization is quite popular in the U.S., but it can be a tedious process if you don’t know what steps to take and what pitfalls to watch out for. Here are some tips to help you donate a car by fax, donate a car by phone, or donate a car by mail, as well as a few guidelines for making that both you and the charity benefit from your generous gift.

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