Have you ever wanted to start your own foundation or charity? Perhaps there was already a charity close to your heart, an issue you’ve always felt strongly about, or even something which involves a family member or friend?

Well heres a great idea I stumpled upon – you can now start your own private and personal foundation, complete with website, with easy ways for people to donate online. And you need much money to do it. Read on:

At Independent Charities of America, you can now set up your own personal, private, online foundation.

Through a simple process, you will be able to:

* Deposit contributions to your own foundation by credit card, check, or securities transfer at any time. The deposits you make to your foundation are charitable gifts, fully tax deductible to the extent permitted by law at the time you make the deposit.

* Nominate gift distributions from your foundation to charities, churches, or schools of your choice at any time. You are not limited to the charities found on this site.

* Accept email “proposals” from charities seeking funds, an option you can turn on or off at any time.

* To see an example of how this works, you can take the tour at the organization’s website here.

Frequently Asked Questions

Q: What is the required contribution to my donor advised fund?

A: Your initial contribution to open a donor advised fund is $250. There is no minimum requirement for subsequent contributions.

Q: How often may I contribute to my fund?

A: As often as you like.

Q: What is the minimum requirement for recommending grants from my fund?

A: $25.00 per recipient.

Q: How do I receive a receipt for my contribution to my fund?

A: A receipt is issued by email. The summary report of all transactions in your account is also printable.

Q: May I allow funds to accumulate in my account in order to grow into a substantial amount?

A: Yes, and many donors do so. You can wait up to five years between deposits and nominations, providing you nominate at least 5% of the balance every year.

Q: Can someone other than myself or my family make a contribution to be credited to my personal/family foundation?

A: Yes, they can.

Q: If our club creates a foundation, who will get the tax deduction?

A: The club itself, if the club is the entity that makes the gift to ICA. The members receive the tax deduction if it is the individual members who make the gift to ICA.

Q: Can I contribute non-cash or non-stock gifts, such as real estate?

A: No, ICA can only accept check, credit card, or securities contributions.

Q: Can someone other than myself make nominations for distributions from my fund?

A: Yes, anyone with whom you share your email address and Personal Giving Number.

Q: I’m an employer. Can I have an at-work fund drive using the ICA system and let my employees fund their accounts by payroll deduction?

A: Yes. The employer needs to make special arrangements with ICA to facilitate reporting. This is easily done. Inquire by email to info@givedirect.org.

Categories: Charities, Families, Fundraising, Ideas, Inspiration, Tips | Tags: charity, charity-tips, foundations

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I recently received an email with the following information regarding Waste
Trading Markets in my area. I think it is a great idea to get people recycling and hope that this kind of markets will come up in many more commercial areas. What do you think?

THE “WASTE” TRADING MARKETS!

Trade scrap paper for new (office/ mimeo) paper!

Trade used ink cartridges for new!

Sell your electronic waste (junk computers) and old /broken appliances!

Sell your used lead acid batteries! Redeem the following for cash:
PET plastic bottles and other plastics, aluminum/tin cans, scrap glass.

Drop off points also provided for junk cellphones, cellphone batteries, styrofoam…

These Waste Markets aim to make recycling convenient and accessible, especially for those who frequent commercial shopping areas, and also to show
that we all CAN make recycling a habit!

Please help spread the word to family, friends and colleagues. Ask around at your local community service offcice, or better yet, start one yourself. Proceeds of this can go to the needy – another fantastic way one person’s junk can help others!

Categories: Campaigns, Environmental, Ideas, Tips | Tags: charity, environment, philippines, pollution, recycling, waste-trading

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Were you aware that not all contributions are “tax deductible”? Just so that you don’t get an unpleasant surprise after you donate larger sums of money, it pays to understand the mechanics of this.

For starters, know the difference between “Tax Exempt” and “Tax Deductable”

“Tax exempt” does not necessarily mean “tax deductible.” A tax exempt organization is one that does not have to pay income taxes. Contributions made to certain tax exempt organizations may be deductible on the donor’s federal income tax return. While the Internal Revenue Service (IRS) defines more than twenty different categories of tax exempt organizations, contributions to groups in only a few of these categories are tax deductible.”

According to the Better Business Bureau, there are more tips to keep in mind when you contribute to a worthy cause. Here are some of them:

1. Contributions are deductible for the year in which they are actually paid or delivered. Pledges are not deductible until the year in which they are paid.

2. The value of volunteer time or services to a charitable organization is not deductible. However, out-of-pocket expenses directly related to voluntary service are usually deductible.

3. Contributions for which the donor receives a gift or other kinds of benefits are deductible only to the extent that the donation exceeds the value of any benefit received by the donor.

4. Direct contributions to needy individuals are not deductible. Contributions must be made to qualified organizations in order to be tax deductible.

5. Contributions made directly to foreign organizations are not deductible, except in the case of some Canadian organizations as specified in an agreement with that country. Also, donations to charities located in Puerto Rico, the Virgin Islands, and other U.S. possessions are deductible. Such organizations must meet the requirements for exemption under the income tax laws of the United States.

6. The “fair market value” of goods donated to a thrift store is deductible as long as the store is operated by a charity. To determine fair market value, visit a thrift store and check the “going rate” for comparable items. One cannot take a deduction if the goods are sold on a consignment basis whereby the original owner gets a percentage of the final sales price.

7. Donated property may generally be deducted at the fair market value of the property at the time of the contribution. However, there are special rules for the donation of cars and other vehicles. Also, in certain situations, additional details concerning the property’s worth may need to be filed with the IRS in order to make a deduction on your federal income tax forms. Also, gifts of appreciated property are subject to special rules. See a financial advisor for additional details.

Categories: Charities, Organizations, Tips | Tags: better-business-bureau, charity, contributions, donations, tax-deductable-donations

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