Charitable Giving Information

Posts Tagged ‘sustainability’

Donations From Walmart

Question: Are there peddler’s at your local Walmart?

Every Saturday it seems like there are at the one in my town. They set up shop at both main entrances. Sometimes it’s guys wearing funny hats, some kid selling candy bars, or some guy claiming he’s taking donations for the military. I find it to be a nuisance. I just wanna get some chimichangas and some Ben and Jerry’s. I wonder if I can call them to see if they can put a stop to this.

Answer: Wonder no longer - of course you can call them and ask them to put a stop to it. Find the number on their web site and tell them what you think. Or next time you are there, ask a guard if they have permission to be there. Walmart may allow charities to conduct sales at the entrance to provide assistance to those charities. But if they don't have approval, they could be immediately removed.

Walmart Donations at Jeff CityStore Opening

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Charity Organizations Ratings

Given the fact that most seniors are interested in a secure income, reducing risk and lowering taxes, here is a planning technique to consider if you are trying to increase your income.

Maybe you have an investment that is coming up for renewal and you discover the rate is going to be lower. You could have some stocks or mutual funds that were invested for growth and are thinking about selling some off and re-investing in something that would pay you an income. The only reason you haven’t sold them is that you don’t want to pay the capital gain.

I would suggest including a charitable gift annuity in your list of options.

A charitable gift annuity is a combination of a gift to charity and an annuity. For older people, annuity rates may be 8%, 9% or even higher. Since part of the annuity payment is a tax free return of principal, the gift annuity may provide you with a substantial income. The combination of partially tax free income and the initial charitable deduction makes this planning device attractive.

While this arrangement has its own unique benefits, the rate of return is less than if you had bought a commercial immediate annuity. Therefore, your decision to use a gift annuity should include a desire to eventually leave money to a qualified charitable organization that you have an interest in, such as a church, school, hospital, etc.

Gift annuities are easy to set up. You simply transfer property to the charity and the charity promises to pay a given amount monthly, quarterly, semi-annually or annually to you for as long as you live. Alternatively, you could elect to have the payments paid to you and another person for as long as you both live. Or you could elect to have the payments made to you for the rest of your life and then to the second person for the rest of their life. But the maximum number of people per gift annuity is two.

Gift annuity rates are set by the American Council on Gift Annuities. Charities don’t have to use these rates, but most do. So you don’t have to out shopping for the best rate. Make your choice based on the charity that you would like to support.

There are two tax issues that you should take into consideration when comparing a gift annuity to your other alternatives.

The first is that if you fund the gift annuity with cash, part of the payment you receive is taxed (as ordinary income) and part of it is not taxed as it is treated as a return of principal. If you fund it with appreciated property, and are the recipient of the income, part will be taxed as capital gain, part as ordinary income and part could be treated as a return of principal and not taxed. However, if you live past your life expectancy, all later annuity payments will be ordinary income.

The second tax issue is that when you give the charity your asset in exchange for a life income, you get a large income tax deduction. For most people, this income tax deduction is so big it cannot be taken in one year. So there are provisions to spread the deduction out over the year of your donation and five more. Your accountant can tell you if this will eliminate income taxes for the next 6 years or not. Chances are good that it will.

Please note that I am only giving general guidelines about taxation. Before you set up a gift annuity, you should sit down with your tax advisor to determine the exact tax ramifications for your situation.

This brief overview has given you some of the basics. If this seems like it may fit, contact the charitable organization of your choice and get a proposal. Then sit down with your accountant and financial planner and have them help you compare a gift annuity with your other options.

About the Author:

Robert D. Cavanaugh, CLU
Rob Cananaugh is a 36-year financial and estate planning veteran and publisher of The Smart Giver.

TheSmartGiver is a 12-month educational membership program that teaches churchgoers how to increase their income, reduce their taxes, preserve their estate and help their church. Subscribe at www.thesmartgiver.com

Article Source: ArticlesBase.com – Lower Your Taxes and Help Your Favorite Charity

Employee/Employer Rights & Responsiblities 1 of 3

Charitable Trust Nz

Ashok Mahindru, Chairman, Advance Group of Companies
age 56, is a successful technocrat and entrepreneur with diversified business interests in India and abroad. As Chairman & Managing Director of the Advance Group, with its core business activity of Manufacturing of Surfactants & consulting in Environment Management, Ashok Mahindru enjoys an extremely good reputation. Advance Group is the largest Surfactant manufacturer in whole of Asia and progressing towards being the largest in the world.

Ashok Mahindru is a qualified Surfactant Technologist and has specialized in the field of Surface Active Chemistry with a strong commitment to Research & Development. He has been directly responsible for achieving sixteen breakthroughs in the process technology for manufacture of Surfactants, five out of which are innovation grade. The Gas Route Sulphonation Technology developed by Ashok Mahindru has been rated as the best in the world so far.

Ashok Mahindru had been associated with various industry forums such as Detergent Manufacturers Association of Delhi Region, Haryana Soap Manufacturers Association. He is currently President of All India Federation of Detergent Manufacturers and Member, Executive Committee of Oil Technologists’ Association of India (OTAI – NZ).

Ashok Mahindru is a widely traveled person. He has attended several international seminars and conferences all over the world. He has presented technical papers on Surfactant Industry at various international seminars in India and abroad such as:
•    Malaysia Oil Technologists Association
•    American Oil Chemists Society
•    OTAI (Oil Technologists Association of India)
•    IIChE (Indian Institute of Chemical Engineers)
•    SCODET ASIA, Bombay 2000
•    ICSL (Institute of Chartered Accounts of Sri Lanka)

As Chairman of Mahindru Charitable Trust, engaged specially in the field of providing Eye Care including Eye Bank and Cornea transplant unit etc., Mr. Ashok Mahindru, through Mahindru Charitable Trust, is involved with community services projects operating at grass root level through Arya Veer Netra Chikitsaalaya and Niramaya Charitable Trust. Ashok Mahindru is the Vice President of the Indian Eye Banks Association.

About the Author:

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Article Source: ArticlesBase.com – ashok mahindru the Chairman of Advance Group of Companies

New Zealand School of Export