History
& Info - Donation Basics
Charity is perhaps the best feature of
humanity. It is a perfect way to support the downtrodden. There are many
types of natural and man-made evils in our society. So, there are
variable causes for which the blessed ones can and should donate. Unlike
before, nowadays there are numerous charitable institutions across the
globes that are working in different areas. The main aim of a charitable
organization is to help the people in need and work for their
development. For instance helping in the rehabilitation of victims of
natural disasters like famines, tsunami, earthquakes etc., working for
prisoners of war or any oppressed community, child education, women
upliftment and so forth are some different tasks taken up by these
organizations. So, charitable organizations can variously be literary,
religious, scientific and so forth. These organizations largely rely on
government grants and the charities/ donations by the well-to-do section
of society in order to function or continue with their respective social
service. However, people may have different motives behind donating
money in these charitable foundations. While there are those who
contribute for the sake of human welfare there are others who do it to
earn recognition and save tax. Tax wavier possibly is one of the
foremost reasons at the moment that instigates many affluent people,
multinational companies, and corporations to give money in these
institutions. However, those who donate for the purpose of saving tax
should keep in mind that every charity is not tax deductible.
There are basically two types of
non-profit organizations.
1. Charitable institutions that are
exempted from paying taxes.
2. Institutions to which the donations
made are tax-free. Such organizations are registered under the 501
(c)(3) category of the Internal Revenue Service. Once you make a
donation to any such organization, get a receipt made as evidence to
assist you in tax deduction.
But besides enlisted in the 501 (C)(3)
category, several other things about an organization should be
considered before making a donation.
• Check the annual report of the
organization. Annual report will brief you with the requisite crucial
details such as current work, situation, finances etc. of the
organization.
• Also take into consideration the
institutions aims and means proposed to achieve them.
• Notice the amount of donations the
charity receives annually and its sources.
• In case of door- to- door
solicitations, prior to parting off with your money, try to wrinkle out
the important details (the name, full address, goals, licensing, tax
deduction and so forth) of the organization. If that person is unable to
present the details, he might be fake, trying to befool people.
Charities can be made in different forms.
Giving cash is one way; other ways include giving those items that the
constitution requires. For example if the charity is working for
rehabilitation of tsunami victims then facilitating it with tents, food
stuffs, clothing etc. will be an appropriate rather wonderful charity.
Generally people are under the illusion that only large sum of money can
be given as charity, but this is not the case like. Donation can be as
small as 10 or 20 dollars. The amount does not actually make a
difference, what actually matters are your philanthropic feelings and
desire to contribute.
Mansi aggarwal writes about charity
donations. Learn more at
http://www.givingtocharities.com
Article Source:
http://EzineArticles.com/?expert=Mansi_Aggarwal
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