Monterey, CA Charitable Giving Increasing In December Because Of Fears The Tax Code May Change
by Richard Kuehn on 12/08/12
View From A Non-Profit Serving Carmel,
Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific
Grove, Pebble Beach, Salinas, Seaside And Soledad California
Although
the so-called fiscal cliff has many nervous about the economy, there is some
good news in all of this, at least for non-profits. The
Wall Street Journal reported that uncertainty about what will happen with
tax rates for high-income earners has caused a mad scramble among wealthy
taxpayers to give to charity in December after an already big third quarter. Fidelity Charitable, a non-profit affiliate of
Fidelity Investments, took in $1.2 billion for the first nine months of the
year, up 63% from 2011, while Schwab Charitable, a non-profit affiliate of
Charles Schwab, saw a 74% increase during the same period. Charitable giving has been fully deductible since
1917, but there has been talk on Capitol Hill that this deduction, amongst
others, will be phased out for high income earners. I certainly hope not. This is an extremely difficult environment in
which to raise funds, and the people who can most afford to give, obviously, are
the wealthy. If you can afford to donate
to charity, of course, we hope you will give to Hands To Help Seniors! I am proud that we were chosen by Monterey
County Weekly as one of the charities highlighted in their annual Monterey
County Gives program. If you can afford
to give, please donate via the below web site as there are matching funds
available via this great program. The
way it works is, there is $100,000 in matching funds, and it will be divided
pro-rata amongst the participating organizations based on how much they
raise. So please help us stay in the top
ten fundraisers by clicking here.
Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.
