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Entries in Charity (14)

Wednesday
Apr062011

Tax Tip: Deducting for Charitable Donations

Brand X Pictures/Thinkstock(NEW YORK) -- Giving money to your favorite charity qualifies as a tax deduction, but "the key is if you make a charitable contribution, get a receipt or make sure your bank account shows who you've made a charitable contribution to," says Eric Smith with the IRS.

The money must go to a registered nonprofit group, religious organization or charity.

Have you donated clothing to organizations like Goodwill or the Salvation Army?

"If you can keep a list of -- 'Okay, there were four pair of pants and two shirts and the pants are valued at $3 and the shirts are at $2.'  That would be really good documentation to be able to provide."

Expenses involved in charitable work may also be deductible.

Copyright 2011 ABC News Radio

Thursday
Mar312011

Charities Turn to Twitter to Boost Fundraising

NICHOLAS KAMM/AFP/Getty Images(NEW YORK) -- It has been a tough few years for charities. According to the Chronicle of Philanthropy, the 50 top philanthropists gave $3.3 billion to charity in 2010, the lowest amount recorded since the Chronicle began tracking donors in 2000.

But that doesn't mean the organizations aren't always looking for new ways to approach donors.

Enter 'Twestival' -- a fundraising event on Twitter that has become the biggest global grassroots charity event organized through social media.

More than 150 cities across the world participated this year. Each city selected one local charity, and then received a Web page from FirstGiving, an online peer-to-peer fundraising tool.

'Twestival' brings the buzzing Twittersphere offline and onto a physical location -- a fairground, skating rink, park -- for a single day to highlight a community cause. This year, it was March 24, with donations accepted through March 31 on the website. As of Thursday, they had raised more than $550,000 for more than 150 local nonprofit causes.

Twestival originally started off as a single event in London in 2008, under the direction of founder Amanda Rose (also known as @amanda).

In 2009, it expanded to events in 133 cities in support of 135 local charities. Last year, it quickly transformed into a global movement with events in over 175 cities while also raising over $400,000 for the international humanitarian organization Concern Worldwide.

In the months leading up to the March 24 event thousands of Twitter users spread the word. A 24-hour Twestival livestream supported organizing teams around the world, setting a world record for the most charities supported by a live Internet broadcast. At the stroke of midnight on Thursday March 24, an influx of tweets with the hashtag #twestival flooded the Twitter stream.

Twestival founder Amanda Rose tweeted at 2:30 a.m., "Two and a half hours into @Twestival and our global fundraising total is already $215,840.13!!!"

Copyright 2011 ABC News Radio 

Tuesday
Mar012011

Tax Tip: Deducting for Charitable Donations

Photo Courtesy - Getty Images(NEW YORK) -- Giving money to your favorite charity qualifies as a tax deduction, but "the key is if you make a charitable contribution, get a receipt or make sure your bank account shows who you've made a charitable contribution to,” says Eric Smith with the IRS.

The money must go to a registered nonprofit group, religious organization or charity.

Have you donated clothing to organizations like Goodwill or the Salvation Army?

“If you can keep a list of – ‘Okay, there were four pair of pants and two shirts and the pants are valued at $3 and the shirts are at $2.’ That would be really good documentation to be able to provide."

Expenses involved in charitable work may also be deductible.

Copyright 2011 ABC News Radio

Thursday
Oct212010

Study: Women Make More Charitable Donations Than Men

Photo Courtesy - Getty Images(INDIANAPOLIS) -- Women at nearly every income level are more likely to make charitable donations than men, according to a study from the Women’s Philanthropy Institute at the Center on Philanthropy at Indiana University.

Debra J. Mesch, Ph.D., the director of the Women's Philanthropy Institute, says, “Looking at giving across five different income groups, which range roughly from $23,000 to $100,000 a year, it is clear that it is not only wealthy women who give.”  She adds, “Women across nearly every income category give significantly more than their male counterparts -- in many cases, nearly twice as much.”

The study analyzed donations made by single-headed households, controlling factors that may affect giving, such as income, age, race, education and number of children.  Researchers found women who were never married or divorced were more likely to give than men who shared the same marital status.  Widowed men, however, made more charitable contributions than widowed women.

Analyzing income brackets, the study also found that women across every income level except one donated significantly more than men.

Copyright 2010 ABC News Radio

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