Wednesday, January 2, 2013
Did you rush to give -- and reap the tax benefits -- at the end of the year?
With the potential for changes to the charitable giving deduction, income and estate tax rates, some big philanthropists made 11th hour contributions to take advantage of the existing tax breaks, according to The Washington Post. Smaller donors -- old clothes and household goods in tow -- acted quickly, too. Traditionally, wealthy donors make year-end donations, with many high profile people doing so in 2012. Facebook founder Mark Zuckerberg gave almost $500 million to a foundation; producer David Geffen earmarked $100 million for medical scholarships and publisher Mort Zuckerman added $200 million to Columbia University’s coffers. Stacy Palmer, editor of the Chronicle of Philanthropy, told the Post that “some people have accelerated …
Tuesday, November 20, 2012
Did you attend the store's Wildwood Shopping Center opening benefit?
The new Bethesda location of Chop’t Creative Salad Company opened with a nod to the season’s charitable giving, raising hundreds of dollars for the county’s largest food distribution center. More than 700 customers turned out to the store’s Wildwood Shopping Center opening, Nov. 14, featuring free food in exchange for a $2 donation to the Manna Food Center, according to Allison Anderson, development organizer for the charity group. The five-hour promotion raised a total of $1,504, directly benefiting Montgomery County’s main food bank, she said. “At one point, the [Chop’t general manager] told me they were making three salads a minute; over 300 in the first hour and a half,” Anderson said. “The line was out the door all afternoon and they …
Monday, August 20, 2012
But other states rank higher. Does being a "blue state" have something to do with it?
- LOCAL CONNECTIONS
- Lisa Rossi
Monday, August 20, 2012
Maryland ranks 11th in the nation in terms of how much its residents donate of their discretionary income to charity, according to an analysis released Monday by the Chronicle of Philanthropy. Utah was listed as the top state, with residents giving 10.6 percent of their discretionary income to charity. In Maryland, people give on average 5.7 percent of discretionary income, according to the analysis, based on IRS records from 2008. The top five jurisdictions in the study for giving were: Utah; Washington, DC; Mississippi; Alabama; and Tennessee. Looking at the 20878, 20854, 20850 and 20874 ZIP codes, residents of North Potomac and Darnestown ranked among the nation’s highest in total contribution, but lagged behind the Montgomery County …
Saturday, December 31, 2011
Charitable organizations expect to see a spike in contributions as the calendar year closes out.
With the start of 2012 fast approaching, the window for making charitable donations in Tax Year 2011 is about to close. As MSNBC writes, groups like Goodwill and the Salvation Army see a spike in donations — both material and monetary — at the end of the calendar year. Employees at many nonprofit organizations are called on to work long hours as steady streams of donors contribute clothing, furniture, and even cars. If you'd like to make a tax deductible donation before the end of the year and aren't sure where to go, the Better Business Bureau has a vetted rundown of charities. For a list of some local options, visit Patch's directory of community resources.