Tag: volunteer Page 2 of 3

The Tax Benefits of Donating to Charity

On May 12, 2021

Donations can be the best way you can help out charitable organizations. What does it mean for your income, though? Fortunately, you do see some tax benefits from donating.

However, these tax benefits don’t come automatically by just filing your taxes as normal. You’re going to have to put some work in on adjusting your tax forms so that you’re getting the deductions you deserve. Check out these tax benefits you can look forward to once you start donating to charitable organizations.

Basic Deductions

Whenever you donate to a charitable organization, you’ll be eligible to get a percentage of that money deducted from your tax responsibilities. This can depend, though, on what exactly you are donating and who you are donating to. For example, you might be linked to only having 20% of your tax responsibilities taken away by donating to specific organizations like cemetery organizations.

You might also be only eligible to have a percentage of your tax income reimbursed if you’re not donating in cash. On the other hand, some charitable organizations will allow you to get a 100% tax deduction if you are donating with cash. Make sure you fully look up what deductions you can take before donating to a charitable organization.

Volunteering

Believe it or not, but you do get some tax deductions if you’re someone who volunteers for others. This can be work you’ve done for any registered charitable organization. However, you’ll want to make sure that you have all of your expenses recorded with receipts, as you can easily be audited if the IRS hasn’t found legitimate merit for you taking tax deductions for volunteering.

For example, you might end up spending hundreds of miles on the road driving to help a charitable organization with an event. You’re then allowed to take all the gas money you spent and put it towards a 100% tax deduction, given that you keep all of your receipts from the gas station. You can also take any other expenses that you may have had like meals on the road, needed items for events, and much more. Ensure that you fully look into any taxable deductions you can take whenever you’re volunteering for any charitable organization.

5 Educational Charities to Support

By Jimmy Lustig

On February 17, 2021

In Blog, James Lustig, Jimmy Lustig, Philanthropy, Uncategorized

Children are the future. They will grow up to be the innovators of society. It is important we properly invest in their education to become members of an informed population.

We’ve compiled a list of 5 educational charities that commit themselves to help better children worldwide.

Pebbles Project

The Pebbles Project assists disadvantaged children in the West Cape of South Africa. Their website boasts that their primary focus is education, health, nutrition, community, and protection.
Support for this charity helps pregnant mothers and goes well into taking care of the children until they enter the workforce, prepping them for success.

Lightyear Foundation

This charity places heavy emphasis on teaching and educating children on STEM wonders in the United Kingdom. STEM stands for science, technology, engineering, and mathematics.
The Lightyear Foundation emphasizes children with disabilities. Many of their programs and activities cater to the disabled. The Lightyear Foundation encourages them to consider STEM as a career path.

Mobile Education Partnerships

Mobile Education Partnerships, or MEP, is a charity based out of Myanmar. Many of the displaced communities in South East Asia rely on their support. MEP produces textbooks, trains teachers, and runs many projects to bring education to children in refugee camps and other war-torn areas.

The Turing Trust

Focused in Africa, the Turing Trust is a charity that teaches information technology to students in the countries of Ghana and Malawi. Their educational efforts have successfully reached over 55,000 students. They have also provided over 5,700 computers across many African classrooms.
Their efforts also target teachers to enable them to incorporate technology in their lessons as a teaching aid.
Recently, this charity has also extended its efforts into the United Kingdom to support students living through the pandemic with laptops.

Life Skills Educational Charity

The Life Skills Educational Charity is out of the United Kingdom. Their objective is to help children become socially conscious and aware of knife crimes, drugs, and the practice of cyberbullying.
Studies conducted by Nottingham University show that children who go through the program are more likely to seek help. They also yielded greater results in communication and listening compared to other control groups.

Conclusion

Children are a wonderful investment, and these fantastic organizations are working hard to enrichen young lives across the globe.

Robert Downey Jr.’s Latest Philanthropic Investment

By Jimmy Lustig

On February 17, 2021

In Blog, James Lustig, Jimmy Lustig, Philanthropy, Uncategorized

Iron Man star Robert Downey Jr. has been covertly making headways into the world of environmental research the last few years. In 2019, Downey Jr. founded the Footprint Coalition, an organization geared toward supporting scientific research and sustainability technologies. Earlier this week, Downey Jr. revealed a new arm of the Footprint Coalition at the Davos Agenda of the World Economic Forum: Footprint Coalition Ventures. Downey Jr. explains that Footprint Coalition Ventures will be the investment branch of the organization and that its mission will be seeking out and supporting companies that research sustainability.

Downey Jr. went into further detail on the goals of Footprint Coalition Ventures in an interview with reporters from Fast Company. Downey Jr. explains that creating Footprint Coalition Ventures will put the Footprint Coalition in a better position to help answer vital sustainability questions. Continuing, Downey Jr. says that Footprint Coalition Ventures have two types of funds, one for preliminary investments and the other for subsequent investment opportunities. Furthermore, the company follows a rolling fund investment schedule. In this manner, investors will be able transfer funds to companies on a quarterly basis, making Footprint Coalition Ventures more accessible to different kinds of investors. Downey Jr. adds that such a schedule opens the company to as wide a pool of investors as possible.

Footprint Coalition Ventures focuses on funding companies that research in six areas, including food and agriculture, energy, education, and advanced environmental solutions. Thus far, five companies, including Arcadia Earth and Cloud Paper, have received funds from Footprint Coalition Ventures.

Looking to the future, Downey Jr. says that he plans on using his status as a celebrity to raise awareness on the Footprint Coalition and sustainability ventures in general. While many other celebrities who are involved in similar organizations tend to keep a low public profile, Downey Jr. feels that it is his responsibility to use his platform to influence others. Jonathan Schulhof, who runs the day-to-day business of Footprint Coalition Ventures, points out that the company has used a YouTube video of Downey Jr. detailing the differences between plastic and polyhydroxyalkanoate, a new type of sustainable polymer invented by RWDC Industries, to help woo investors. Schulhof continues that such content can inspire audiences by making something extraordinary seem commonplace.

Five Great Books About Philanthropy in 2020

By Jimmy Lustig

On December 15, 2020

In Blog, James Lustig, Jimmy Lustig, Philanthropy, Uncategorized

With so many options out there, how – and why – should people consider giving? The five books below provide many answers to these and other questions, making for fascinating reading, both inspirational and impactful.

One of the best guides to the giving process is the traditional Inspired Philanthropy: Your Step-by-Step Guide to Creating a Giving Plan and Leaving a Legacy, by Tracy Gary. Efficient covers everything from the basics of plan making, working with advisors, the right questions to ask non-profits, and much more. The inclusion of worksheets, resource lists, and descriptions of planning tools is beneficial.

The Promise of a Pencil, by Adam Braun, tells the story of how one man’s actions impacted thousands of lives globally. After encountering a begging child and starting with only $25, Braun built an organization that has helped build over 250 schools worldwide. Inspirational and uplifting, if ever there was an argument for the power of giving, this is it.

In The Soul of Money: Reclaiming the Wealth of Our Inner Resources, Lynne Twist offers positive proof that changing our attitudes towards earning and spending money can make our lives more meaningful and fulfilling. Challenging everyday assumptions about society’s views of money, the author illustrates her journey from conspicuous consumer to non-profit activist in an honest, no-punches-pulled way.

Sharna Goldseker and Michael Moody bring a fresh perspective in Generation Impact: How Next Gen Donors Are Revolutionizing Giving. Moving between first-hand accounts and analysis of a new class of doner’s work, the book shows the impact of young rising stars of philanthropy in disrupting traditional giving models and creating entirely fresh approaches to the field.

Another disruptive approach to giving is Impact Investing: Transforming How We Make Money While Making a Difference by Antony Bugg-Levine and Jed Emerson. The new field of impact investing is thoroughly explained, showing how it’s possible to “blend” investment success with positive change.

This year, perhaps more than in most, it’s essential to consider how a charitable contribution can positively impact peoples’ lives. The wisdom and practical advice that abound in the five volumes discussed will hopefully inspire and energize in equal measure.

How Nonprofits Have Adapted During COVID-19

By Jimmy Lustig

On December 8, 2020

In Jimmy Lustig, Philanthropy

In the midst of the COVID-19 pandemic, many nonprofits have experienced a sharp decrease in donations. A small number of donors have reported that they don’t feel comfortable donating money when their own financial situation is uncertain. A much larger percentage of donors still want to help but report that they’re not sure how their donation will help people stricken by the pandemic. And since some facilities rely largely on in-person donations, stay-at-home orders have made it even more difficult for them to get the donations they need to stay afloat.

As a result, nonprofits have found several ways to adapt during the pandemic. One way is by getting in touch with their donors through phone calls or physical letters. Many donors report that they still want to help–they’re just unsure how to do so. By contacting their frequent donors directly, non-profits give them an avenue to help out their favorite churches and charities and rest assured that they know exactly where the money is going.

Some non-profits are also making appeals to their communities that are similar to year-end appeals. They stress the importance of giving to charity during these unpredictable times and highlight how their community has been affected by the pandemic. By sharing their stories, they make the pandemic seem more “real” to their donors and encourage them to reach for their wallets.

Nearly 50% of volunteers have reported that they plan to cease their volunteering activities due to health concerns. To keep people engaged in their charity, many non-profits are brainstorming ways that volunteers can continue to help, even while they’re sitting at home. This keeps the community engaged in their non-profit and encourages more donations during the pandemic.

Additionally, the CARES Act of 2020 established a new tax deduction for certain charitable donations up to $300. Some non-profits have been emphasizing this fact to encourage the donations that the charity needs to stay alive.

Finally, one of the biggest ways that non-profits have encouraged donations is simply by being honest. They’ve informed their donors that their non-profit is struggling and they need help. The non-profit benefits the entire community, and by making cash donations, they’re not just helping themselves–they’re helping their friends, neighbors, and all the people around them.

Resources for Prospective Volunteers

By Jimmy Lustig

On December 1, 2020

In Jimmy Lustig, Philanthropy

Muhammad Ali once said, “Service to others is the rent you pay for your room here on Earth.” Service work enriches the human experience. However, for the novice, it can be overwhelming. How do you begin? Where do you go? The United States Government has a website of resources to steer potential volunteers in the right direction.

The basic components of this website are as follows:

Volunteering in a Tough Economy

These are unprecedented times. Volunteering is more important than ever. Explore strategies to make the most of these challenges.

Building a Service Strategy in your State or City

States, cities, and individual communities bring unique, local perspectives to maximize a strategy’s efficacy. Reach out to these boots on the ground.

Developing a More Diverse Volunteer Base

Ours is a diverse country that prides itself on such a mosaic. In order to best achieve results, we need to mobilize everywhere, with everyone. Impact volunteering is one such example of how we can best engage in specific demographics with specific needs.

Volunteer Self-Organizing

Give power to the people, and they will rise to the challenge. Do not fear delegating. Everyone must play their part.

Recruitment

A strategy exists for every potential volunteer, particularly mobilizing young adults and/or college students. Be mindful of your target audience and how to best approach them. Consider appointing volunteer coordinators.

Retention

Bringing people to the table means nothing if they won’t sit down to eat. Make your opportunities so enticing they feel compelled to stay, knowing they will make a difference and be fulfilled.

Human Capital Strategies

While time is money, sometimes actual currency is required. Learn how to secure funding and also explore pro-bono options.

Cost-Effective Volunteering

There are indeed tax benefits for volunteering and other ways to ensure a minimal startup cost. Various financial incentives support philanthropic endeavors. Networking is key.

Voluntourism

Why be a tourist when you could be a voluntourist? Developing a mutually beneficial voluntourism program in your community can broaden horizons while exploring different opportunities in different spaces. This makes an ideal situation for shared communities.

How to Encourage Corporate Philanthropy

By Jimmy Lustig

On October 8, 2020

In Blog, Jimmy Lustig, Philanthropy

Corporate philanthropy is a corporation act of promoting community welfare through donations of time or funds. From the latest statistics, corporate philanthropy has declined by 50%. Both critics and investors’ high expectation puts the executives in a difficult situation to justify the charitable benefits and maximize the investors’ short-term profits.

The critics’ expectation of companies to deliver high corporate social responsibility and investors’ needs for short-term profitability has led companies to use strategic philanthropic to balance the two. Philanthropy is used to promote the company’s image and brand through sponsorships, used as advertising and public relations. Although philanthropy represents a small portion of corporate charitable expenditure, the corporate spending on marketing skipped from 125 million dollars in 1990 to 828 million dollars in 2002. In 2001 the Arts sponsorship had and additional growth of 589 million dollars. The campaign’s intentions are meant to increase the company’s visibility in society and improve workers’ morale to create a positive impact.

Organizations need to have a well-thought-out social objective to generate goodwill from customers, employees, and the community. Most corporate philanthropy programs are unfocused and diffused, making it challenging to profit the organization as expected.

Organizations need to understand they cannot function in isolation. To have a competitive advantage over others in the same industry, they need to impact the location they are operating. The social improvement of an area dictates the economic benefits of a corporate. For example, a corporate can focus on educational needs and training to get network administrators. This way, a company will use the labor in the location, capital, and natural resources available to produce high-quality goods and services.

Both community and society benefit from corporate environmental sustainability because pollution reduction improves consumers’ value and use of productive resources. This boosts the economic and social conditions for companies to thrive in their operation. Not every corporate expense brings forth social benefits. Corporate will only prosper where the expenditure produces both economic and social gains when shareholders’ interests and corporate philanthropy meet. Corporates should also understand the importance of collaboration with local supplies for superior productivity. Seamless approval of products and projects and navigation of complex local regulations is also affecting competition to a large extent.

What is a Philanthropist?

By Jimmy Lustig

On October 8, 2020

In Blog, Jimmy Lustig, Philanthropy

The word “philanthropist” is often mentioned when discussing people of considerable wealth. For instance, Oprah Winfrey, Bill Gates, and Warren Buffet are well-known philanthropists. But what if you’re not a millionaire? Can you still become a philanthropist? The answer is yes!

What is a Philanthropist?

A philanthropist is a person who works to create a better world. They do this work in a number of ways. Perhaps they donate money to a charity or a cause, or they might use their talent, time, or skills to help make the world a better place and improve society as a whole.

In short, philanthropists have a desire to help others and solve world problems. It’s more about the person’s character than it is about how much money is in their bank account.

Most people think in order to become a philanthropist, you must have millions of dollars in the bank. But anyone, no matter their net worth, can participate in philanthropic activities.

Ways to Become a Philanthropist

You don’t need a lot of money to become a philanthropist. Having money doesn’t hurt, but it’s not a necessity. Instead of donating money, you can use your talent, time, or skills to impact the world positively.

For instance, you can serve food to the homeless, volunteer at a shelter for battered women and children, or tutor at-risk teens. And there’s also evidence that philanthropy also helps the person doing the giving. For example, it can help you learn to do good things without expecting anything in return. And if you’re an entrepreneur, philanthropy can benefit your business by helping you learn to think more creatively.

And if you do have money to share, several charitable organizations can use your help. Just remember to research first, and make sure you’re donating to a legitimate charity and a worthy cause. But remember, money isn’t a deciding factor in who qualifies as a philanthropist. Mother Teresa was a famous philanthropist who positively affected many lives, but she was far from a millionaire.

Most philanthropists aren’t famous or millionaires. They’re everyday people who just want to make the world a better place for everyone.

Giving Back On A Budget

By Jimmy Lustig

On August 15, 2020

In Blog, James Lustig, Jimmy Lustig, Philanthropy

While it’s admirable to want to donate to groups of people in need, sometimes it’s just not within our budget. Depending on your situation, you could be in a lot of debt due to school, or maybe you have a family you must support. Whatever it is, you, unfortunately, don’t know how to give back to those in more need than yourself. You’d be surprised, but many people have managed to find new ways to give back to their community without having to break the bank. If you’re on a budget but want to give back to your community, read on.

Donate Used Goods

Donations don’t always have to be in the form of money. If you’re like most people, chances are you have older and slightly used clothing and other items that you don’t use any longer just sitting in storage somewhere. If you’re truly never going to use these items, you should donate them! Most organizations are happy to take nonfinancial donations such as nonperishable food items, clothing, old toys, and much more. This is a great way to give back while also freeing up some of your own space by getting rid of things that are just hiding in a closet somewhere anyway.

Volunteer

If you can’t volunteer your money, volunteer your time! Most nonprofit organizations need help with their daily operations or when they’re throwing events and the like, so see if you can help out in that department. You can often find opportunities in schools, hospitals, food pantries, libraries, and much more. Think about things you care about and where volunteering would mean the most for you, and look up groups in your area on the internet that work toward those causes. You can even volunteer by asking neighbors if they need help to mow their grass or doing their grocery shopping.

Purchase Wisely

You have a lot of power over how you spend your money and the way you use that power can actually be a way of giving back. For example, you can give back to your community by purchasing from local businesses. This is an especially great way to give back after events such as natural disasters. If you’re going to be making purchases from bigger corporations, try to buy from the ones that do a one-for-one business model where they will donate something based on every sale they make. This encourages sales and helps a good cause.

Philanthropy Spotlight: Doctors Without Borders

By Jimmy Lustig

On July 23, 2020

In Blog, James Lustig, Jimmy Lustig, Philanthropy

Doctors Without Borders(DWB) is an amazing organization that primarily focuses on providing care to those who need it most. In the late spring of 1968, a group of young doctors traveled to help victims of major diseases and wars. They invented a new brand of humanitarianism that had the potential to reinvent the concept of emergency aid. They became Médecins Sans Frontières (MSF), known internationally as Doctors Without Borders.

MSF was officially founded on December 22, 1971. 300 volunteers made up the organization: doctors, nurses, and other staff, including the 13 founding doctors and a plethora of journalists. According to the official Doctors Without Borders Website,

MSF was created on the “belief that all people have the right to medical care regardless of gender, race, religion, creed, or political affiliation and that the needs of these people outweigh respect for national boundaries.”

After the french revolt of ’68 burst onto tv screens, the french pubic soon saw terrifying images that would set a new tone to empathy. They saw thousands of kids all over the world struggling from hunger and disease. In Nigeria, the southern region called Biafra seceded from the country. The Nigerian army surrounded the section, and the Biafran people were soon decimated by hunger. The Red Cross pleaded for assistance and help. The MSF realized that need was bigger than their neighbors or their country.

MSF’s first mission was to the Nicaraguan capital of Managua in 1971, when an earthquake decimated most of the city and killed between an estimated 10,000 and 30,000 people. In these first few missions, the weak points of MSF were soon realized. Members were going over without readily available support, and supply chains were fractured. The telltale signs were there; the movement was beginning to break. Soon it was hard to distinguish the MSF as a group of medical professionals or as a group of guerilla doctors.

From this point, the new realist leadership of MSF would transform MSF into the professional organization it is today. Through various leaders and growing mains, the MSF has become a fantastic organization known as Doctors Without Borders.