My wife is entering a donation of $500 as I type this.
Scott: Great idea. However, the wife and I found out that with the Red Cross, the victims only get about 50% of the money. We gave $100.00 to the Salvation Army for the disaster, because from what we could tell, over 80% of the funds go to the victims. Here is the New York AG's report on the efficiency of the various charities: http://www.oag.state.ny.us/charities/pennies04/penintro.html Art
Art: I understand and I'm glad that we have options where to give. I just hope that all of us, who have the means, take this opportunity to lead the way by giving to the organization that we most believe in. For me, I just want to get these people some help, I only wish I could go there myself but I think I would get in the way. Thanks for the information on the Red Cross and if anyone else has a good organization who is responsible and accountable, please post it and I will make a contribution. These people need us now. Blessings to all, thanks for your giving spirit and hearts. Scott
Just FYI... the company I work for sends out over 125,000 e-newsletters per week to automotive industry professionals. We've added a link to the Red Cross donation site at the very top of every single one of them. Big thanks to everyone here (and anywhere else!) that's made a contribution!
$100.00? Is that a misprint? And you're how rich? At least you made sure they got $80.00 and not only $50.00 as might have happened were you not this careful.
Wes: Out of line. Every $ counts and I know that the people appreciate whatever is given. You and I have no idea what anyone has given or where. Let's keep this above any sniping please. God bless every giver! I'm overwhelmed by this tragedy and would be thrilled if every member of this community gave $5. My wife and I have and will give more but no one here will know about it. There isn't a liberal or conservative leaning now, just people wanting to help other people who need us.
I respectfully disagree, but let's leave it at that. I saw your thread and felt compelled to do my part, even from here... Image Unavailable, Please Login
Thank you Wes. I know that they appreciate your gift! I do, especially since you are from our neighbors to the North. All borders break down when there is such a dramatic need. Thank you.
We are up to $3568 not counting the matching gifts and the other undefined giving. Way to go, it humbles me to see your generosity! I know more are giving and not posting, that is perfectly good with me. We will make a difference and are praying for the folks in the south. Especially our friends in this community. I pray for each of them. Six months ago I was in N.O. and met one of the guys there with a 360 who owned an antique shop in the Quarter. I hope you guys are alright. We are with you in prayer.
Just got a call from school. They are telling me to be prepared to take in this kid, but its not definate yet.
So how does the tax system treat donations for you Americans? What's the net cost of a donation? Perhaps knowing this might 'encourage' others.
I'm not an accountant but, as I understand it, giving to recognized, legally organized, charitable organizations is a deductible expense. One's tax rate is dependent upon income as we have a progressive tax system. In the top tax bracket here in California one is looking at a federal rate of 35% and a state rate of 9% making the net of tax cost of a recognized donation 56% of the actual dollar given. This is a one way that we can direct our tax dollars into causes we individually see as important and we are incented by our government to do so. Americans are very generous as a whole. Just like many of our neighbors! Everyone should check with their own accountant for the effect of giving for them personally. However, in situations like this, tax consequences shouldn't be the motivation for giving, but like you say, it is a benefit that may help people feel comfortable giving more! Thanks, Scott
Today, my daughter age 12 and many of her friends got together to raise money for the New Orleans victims. They stood on corners with hand made signs, gave away free drinks (in the hope of a donation) and with the help of a few parents raised $3,600.00. One of the parents that helped organize this works for American Airlines and he said AA would match the money raised today. My daughter and her friends will be back at it tomorrow. Nice way for a 12 year old to spend a holiday weekend.
I believe this kind of donation would be a 100%-of-amount deduction. That is, you get to reduce your income by the value of the donation.
How about this very big thank you for saving us: Kuwait to Give $500M for Katrina Relief Source CAIRO, Egypt Donations to Hurricane Katrina (search) relief poured in from around the world Sunday, with Kuwait offering $500 million and other Mideast countries offering aid and condolences despite widespread opposition to U.S. policies in the area........
We can add another $1,100 to the $3,600 for a total of $4,700. With AA matching, that brings a total of $9,400 for the weekend. Every little bit helps, right?