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Charity Donors Can Maximize Year-end Giving
Contributed by: Laura Marth on 12/5/2007

(December 4, 2007) - Make room for holiday gifts by de-cluttering your home and giving gently used clothing and other unwanted items to Goodwill now until December 31. Claim a tax deduction to get a little money back from Uncle Sam in the process.

Whether you donate gently used material items or make a financial gift, request a receipt for your donation if you plan to claim a tax deduction. The Internal Revenue Service allows a deduction for each item, but the donor determines each item's value. Donors may claim a deduction for items that are in "good" condition. Generally, an item's value should be based on fair market value - what the item would sell for in a thrift store. Goodwill's web site at www.goodwill-colosprings.org can help donors estimate the value of many household goods. For items worth more than $500, a qualified appraisal must accompany the claim. For general guidelines, visit www.irs.gov.

Be certain your donations are benefiting you and the charity by doing the following:

  • Make an informed choice by giving to a charity you know and trust. Ask what percentage of the revenues generated by your donation will directly support the mission of the organization.
  • Before donating an item, ask yourself if you'd give it to a relative or friend. Disposing of items charities can't sell in stores diverts dollars from services needed in the community.
Donation Do's
  • Separate clothing from household items in boxes or bags.
  • Wash or dry-clean clothing. Keep shoes paired by using a rubber band.
  • Wrap breakables in newspaper and place in boxes.
  • Test electrical equipment (wrap cords around items) and battery-operated items.
  • Include all pieces and parts to children's games and toys.
  • If donating a vehicle, include clear title and keys.
  • Clean computer hard drives of personal and business information and include the operating system. Pentium II or newer versions are typically accepted.
  • Postmark or hand-deliver all financial contributions by December 31.

Donation Do nots

  • Leave items unattended outside a collection center.
  • Donate broken or soiled items.
  • Give items that have been recalled, banned, or do not meet current safety standards. For more information, visit the Consumer Product Safety Commission ( www.cpsc.gov).

Goodwill accepts clothing, household items, toys, computers, books, financial gifts and vehicles. Donations are sold in eight retail stores throughout central Colorado to fund programs that help people become independent. Thanks to the community's donations, last year Goodwill helped 4,923 people find a job. Nearly 90% of Goodwill's revenue is channeled into programs and services.




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CONTRIBUTOR INFO

Laura Marth

Colorado Springs , CO

Laura Marth has posted 30 stories and 0 comments since joining on 2/4/2007. Laura Marth 's average story rating is 5.
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