New Orleans Louisiana Local» volunteer services

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!

Include Planned Giving from your Estate and Make a Difference!

Brent Pourciau — Thu, 23 Feb 2012 22:04:10 +0000

In today’s world, free time has become a luxury that few can afford. Many people have the desire to help others but simply don’t have time or don’t know how. For those interested in donating to charity but who are unable to offer volunteer services, planned giving is an exciting alternative. Gift planning from your estate is a great way to help people in need and have the satisfaction of knowing that you’ve made a difference. Helping others is one of the mankind’s most fulfilling traditions, so be a part of that heritage by making a planned gift from your estate today!

Planned Giving: Getting Started

When it comes to charity, have you ever found yourself saying, “I wish I could help,”? Even if you are someone who never has free time, or you are not really the ‘hands on’ type, there are still ways to give, and gift planning can be a very rewarding part of your own personal legacy. Everyone wants to know that they’ve accomplished something great and to leave behind a trail of goodwill. Planned giving will give you the satisfaction of knowing that you’ve given someone who is struggling to survive a helping hand.

Once you’ve made the decision to become a donor, you’ll want to find the right charity. To begin with, you’ll want to give to an organization that has some staying power. Fly-by-night schemes are everywhere these days and it’s crucial to know what to look for in a legitimate cause. This can usually be determined with a minor amount of internet research. It’s always a good idea to start by looking at groups that are local because it will allow you to follow up more closely on their activities, but it will also give you the chance to ensure that your donation will go toward helping your neighbors and community. Be sure to look for an agency that is an Official IRS Recognized 501 (c)(3) charity, which should be advertised fairly openly, as this will guarantee that your donation is made securely and also that you will receive the appropriate tax deductions.

Another easy way to find a legitimate organization is by looking at whether or not they openly volunteer to their donors what percentage of their intake goes directly to their recipients. You should know that the law does not require a minimum standard on this percentage in order for a business group to function as a charity. This means that a ‘charitable’ group can have all the right earmarks of legitimacy – such as swanky benefits, testimonials, web sites, etc. – and still only donate as little as 1% of their collections to the targeted population. Charities are also not obligated to offer this information to the public, so beware of any group that minimizes or ignores this important information.

You’ll also want to choose a charity group that offers different giving options, maximum tax deductions, and the right to set up the donation so that it helps a particular group of your choosing, such as veterans or children and families. You should also consider the flexibility of types of donations accepted to ensure a good fit. A good charity should allow you to donate anything from cars or other vehicles to property, artwork, or a monetary bequest. It’s important to know for sure that your chosen organization has made as easy and safe as possible for you to donate, so be sure to ask about procedures. Settling an estate is complicated enough without the added hassle of legal entanglements or petitions later on!

Make a Planned Gift to Volunteers of America

Since the 1890s, Greater New Orleans Volunteers of America has been providing charitable services to Louisiana in 16 parishes. Volunteers of America accepts planned gifts of all types and amounts, and they will help you structure your gift so that you receive the maximum tax benefits available. 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 legacy today!