Archive for December, 2008
Charitable Giving Sites
Question: i want links…?
could some1 plz give me links where i can fnd any and all kind of information related to these topics:
1-Educational Institutions in yemen
2-Dawah and welfare institutions in yemen
3-Charitable institutions in yemen
4-Historical sites in yemen
5-Islamic movements of yemen
Any kind of link which would give any normal or detailed info on these topics would be really helpful!.thnx!
Answer: These were about the best I could find. Hope they are of some help to you
Charitable Giving on Social Networking Sites
Pew Charitable Trust Jobs
As of right now the economy continues to surpass the recession, unemployment is rising, and consumers are having trouble paying their bills. The amounts of credit card apps are going up and so are interest rates. This is starting to become a problem with the economy, because many people don’t have jobs to pay their bills. Many who had good credit are now starting to dissolve.
Currently, banks are raising the rates and the minimum payments for card holders. Some are raising them so high that card holders can’t even pay. Now you have banks complaining that they have to raise rates, because no one is making payments. How can someone make a payment if it’s already hard enough to pay it?
Lawmakers are trying their best to create bills that will stop them from increasing interest rates and fees on credit cards. The White House has started making changes to the way Credit Card Companies are dealing with their new effects. The House, a committee passed a bill to move up nearly three months the start date of new laws aimed at targeting how issuers raise fees and asses credit risk.
Credit card Companies are having a hard time adapting to the new change, arguing that they need more time. The problem is, the more time we wait the higher the amount of money customers are going to be paying. There are new bills emerging from the Senate that include freezing credit card interest rates until the new legislation takes effect February 22nd.
As of right now, public outrage continues to boil over on the topic, especially as card issuers continue to hike rates. The Pew Charitable Trusts released a study showing that interest rates increased by an average of 23% from December 2008 to July 2009. Credit Card holders are also becoming furious with the increased penalty fee for a delayed payment. They found that all large banks and card issuers were engaged in practices that would be prohibited under the new credit card laws. The new law would only allow an increase in the fee if the cardholder is two months late.
“The unfair and deceptive practices that the credit card act targets remain widespread, and in some cases we’ve seen it getting worse,” said Nick Bourke, manager of the Pew Safe Credit Cards Project.
Among other things, the new law bans rate hikes unless a consumer is more than 60 days late and then restores the previous rate after six months if minimum payments are made. It also makes it harder for people under age 21 to get credit cards.
Some companies sent out notices about increases in rates and increases in the minimum payment. One company even posted in their letter that the rate and minimum payment increases were to make the account more profitable. That company posted a huge increase in profit this last quarter.
The rate increase change was from 6% to 19% – 30% depending upon type of credit and if “abuse” has occurred.
Companies are also affecting card holder’s limits, sending them short notices. One definition is going over your limit, but the bank can unilaterally reduce your limit and mail you notice and you could risk the 30% rate imposed unless you check your account by phone or online a daily basis and watch your approved credit limit. The notice can be as short as 10 days.
The bank says the new law start date is uncalled for. They say rates are intensifying because customers and economic times are riskier. According to Federal Reserve data, an evident number of cardholders have been walking away from card debt, because they are unable to pay for it. “We oppose it, because the two main factors driving the changes are the increased risk of nonpayment from the borrower and the riskiness of the economy,” said Scott Talbott of the Financial Services Roundtable, a business lobbying group.
Republicans on the House panel pointed to a letter from Federal Reserve Chair Ben Bernanke about the consequences of moving up the effective date. Bernanke said advancing the date could be rough on companies and would prevent the Fed from getting feedback on its proposed new rules cracking down on fees.
The Credit Card Act was signed into law by President Obama on May 22, with a first round of changes — including giving cardholders 45 days notice before a hike takes effect. The more considerable changes were slated to take effect about six months later. We will soon find out if it was a good idea.
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Ditch Your Debt Gremlin
Charity Trustees Annual Report
Thanks largely to the Bahamas’ convenient location and commitment to tax neutrality, it has become a recognized and respected offshore financial center. The stable political and financial environment provides security, while confidentiality of banker-client relations is strictly adhered to and enforced by law. Due to the expansive growth of the Bahamas as a major financial center, there are a variety of Bahamas financial services available to suit a variety of investment needs. If you are looking for offshore asset protection or tax relief, the Bahamas offers several options that may work for you.
One of the most attractive aspects of doing business in the Bahamas is the freedom from taxes on income, capital gains, profits, gifts, inheritance, and estates. There is no withholding tax on dividends, interest, or royalties, and there are no payroll taxes. In addition to the financial benefits, there is a wide selection of highly trained professionals available to assist you, such as lawyers and accountants.
Bahamas financial services include banking, private banking, trust services, investment fund administration, capital markets, investment advisory services, e-commerce, insurance, corporation formation, and shipping registries.
The Bahamian Trust
When established, a Bahamian trust must be designated as “resident” or “non-resident.” Bahamian law allows for the establishment of three types of trusts:
1. Standard Trust
An asset protection trust that can be either revocable or non-revocable.
2. Testamentary Trust
A trust which is activated upon the death of the Settlor, transferring assets to the estate.
3. Charity Trust
To qualify, beneficiaries have to be genuine charities. There is no perpetuity period.
When establishing a Bahamian trust, the attorney must know who the trustees will be, how and when beneficiaries will receive assets from the trust, if there will be a protector, and what the protector’s powers will be.
The trustee’s powers must be stated in the document, and the Settlor is allowed to expressly recognize Bahamian law as the governing law of the trust. If the document does not stipulate a fee to be paid the trustee, then the trustee cannot take compensation. If the trustee is given a fee, it can be either a flat fee or a percentage of the trust assets.
As a Bahamian trust is deemed a private agreement, registration with a government agency is not a requirement. Therefore, no business license fees, filing fees, or registered office fees are payable.
In order to incorporate in the Bahamas, the company must file a Memorandum of Association with the Registrar General. Articles of Association may be filed at the same time or up to six months from the date the Memorandum of Association is filed. Other requirements for incorporation include:
• The Memorandum of Association must be signed by at least two subscribers, in the presence of at least one witness.
• Each subscriber must subscribe for at least one share
• A non-resident subscriber is required in order to obtain exchange control permission.
• A declaration signed by subscriber’s counsel must be submitted with the Memorandum of Association, describing the capacity of the incorporating subscribers.
Only two subscribers are needed to incorporate, and meetings may be held outside of the Bahamas.
A private company must be managed by two directors, and a public company must be managed by three directors. Directors shall submit financial statements and the report of the auditor to the annual general meeting.
Every business must have a license to operate in the Bahamas. Fees are normally based on a percentage of annual gross receipts.
International Business Companies
International Business Companies are formed for a variety of reasons, including formation of mutual funds, ship registration, conducting import/export operations, and such.
IBC’s re exempt from all business license fees and do not require a license under the Business License Act. Shareholders are exempt from all income taxes, capital gains taxes, and corporate taxes.
No public records are maintained, ensuring the privacy of shareholders and directors.
An IBC is a company that does not carry on business with residents of The Bahamas, does not own a real estate interest or lease property other than office space in The Bahamas, does not participate in banking, trust, or insurance businesses, and does not provide a registered office for companies.
An IBC is allowed to conduct foreign exchange business without exchange control restrictions, and licensing fees and service charges are low.
This is just a brief overview of some of the Bahamas’ financial services and does not necessarily include all requirements or powers allowed under Bahamian law.
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Fundraising Ideas For Kids
Question: i need fundraising ideas to help kids who’s dad is dying but my school is big so no stuffed toy drives ?
Answer: You could do a lot of things to raise money;
Have a bottle drive
Put on a show and charge admission and sell snacks
You could do a chinese auction with donated items
You could have a garage sale and have the kids donate items to sell.
Have a change drop....set up a couple of money jars in classrooms and have people drop in any extra change. (it adds up fast)
Have a benefit concert.
Have a spaghetti supper.
Have a benefit school dance.
Hope these help!
Charity & Christian Doctrine : Fund-Raising Ideas for Kids