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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!

Donate a Car or Vehicle Safely by Avoiding Scams!

Brent Pourciau — Tue, 06 Mar 2012 03:45:14 +0000

If you’re looking to donate a car or other vehicle, be aware that there are many scams out there! In this day and age it’s hard to know who to trust when it comes to charity. Many online and even door-to-door schemes will promise you extravagant rewards and tell amazing stories about the people they help but without a sure-fire plan for avoiding cons, you could very well end up as a victim of foul play. In order to protect your interests, you’ve got to become an informed donor. Most donors do not have the opportunity to become experienced at donating cars simply because it’s usually a one-time transaction, so don’t let inexperience lead you into the hands of a phony charity.

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.

Alleviate Grief with an In Memory Gift to Charity

Brent Pourciau — Mon, 30 Jan 2012 23:08:53 +0000

Grieving can be a long and lonely process often filled with feelings of helplessness. Many people struggle with the practicalities of filling their evenings or days with a meaningful activity that will help offset the burden of loss. One of the more effective ways of coping with bereavement is to create a living legacy by making an In Memory Gift or an In Honor Gift dedicated to your loved one. The rewards are endless and the warm, meaningful feeling of deep satisfaction that can only come from helping others has all of the healing properties of even the most advanced medical remedies.

Create a Living Legacy: Where to Begin

A good first step is figuring out what you have or would like to donate. Most will think immediately of money since it is, after all, a more traditional means of giving, but there are also many other sound options from which to choose. You might donate a person’s books to an assisted living facility or donate their clothing to a local shelter. You can also donate a loved one’s car to an organization that helps less fortunate people get their lives back on track. Of course a financial donation such as an In Memory Gift will always be welcome at any charitable organization and can be bolstered by requests for friends and family to make a donation in lieu of sending flowers to a funeral.

In the event of a sudden or untimely death that affects many people, a campaign or project in honor of the deceased can do wonders for everyone involved. A grieving mother in California invited her son’s friends to help her build a memorial garden out of a run-down park in the area to honor the memory of her lost son who played there as a child. The project helped them give meaning to their grief while channeling their energy into creating something beautiful for their neighborhood. Everyone who participated agreed that the project helped them feel empowered to make his death stand for something good while having a positive outlet for their sadness.

Donating your time is also a viable choice and one that is often overlooked. In the case of those who are retired and have lost a spouse, the challenge of filling what feels like an enormous hole in their lives can be quite daunting. The need for interpersonal contact is greatly intensified by the loss of a long-time companion and the abrupt, all-encompassing change in lifestyle can be quite overwhelming. If material things are not an issue, donating one’s time can serve as a life raft that helps the volunteer as much as it helps the receiver. In the case of the grieving mother in California, she enlisted the help of anyone who mourned her son’s death to donate their time and pour their grief into a project that improved their neighborhood.

An In Memory Gift doesn’t have to be money and no matter what you donate, the feeling of having turned your grief into something worthwhile is as good a way as any to honor someone’s memory and help yourself heal at the same time.

Making an In Memory Gift in Greater New Orleans

Making an In Memory Gift, whether it is financial or otherwise, is easier than you might realize. With an impeccable reputation and history of giving, Volunteers of America will help you establish your In Memory Gift or In Honor Gift and be there to guide you every step of the way. Since the 1890s, Greater New Orleans Volunteers of America has been providing charitable services to Louisiana in 16 parishes. After Hurricane Katrina, Volunteers of America placed over 20,000 volunteers in and around the affected areas to help rebuild our great city. Call (504) 482-2130 for more information or visit www.voagno.org and select the “Give A Gift” tab to get started, or just read some of their success stories. Gifts can be made online, by phone, fax or mail, and donations can be anything from stocks or mutual funds to a car to volunteer hours. Start your living legacy today!