Click the link above to Win a $1.8 Million Dollar Lakefront Dream House!
Here at Reachout America, our goal is to send as many special kids to camp as we can! In order to do so, we need donations from people like you. It doesn't have to be much; perhaps some spare change lying around the house that you are willing to give, or even be an old but working fishing pole. It can be anything: boats, bikes, canoes, camping gear, etc, anything you can donate that you aren't using anymore that we can use to help these kids. Please click the donate button to donate money. We thank you in advance for any and all donations you make to Reachout America.
What we are aiming for right now: We are currently trying to raise enough money to buy a concession stand trailer so we can use it to raise money for the kids.
The Giving Pledge is an effort to invite the wealthiest individuals and families in America to commit to giving the majority of their wealth to the philanthropic causes and charitable organizations of their choice either during their lifetime or after their death. Each person who chooses to pledge will make this statement publicly, along with a letter explaining their decision to pledge. At an annual event, those who take the pledge will come together to share ideas and learn from each other. The Pledge is a moral commitment to give, not a legal contract. It does not involve pooling money or supporting a particular set of causes or organizations.
While the Giving Pledge is specifically focused on billionaires, the idea takes its inspiration from efforts in the past and at present that encourage and recognize givers of all financial means and backgrounds. We are inspired by the example set by millions of Americans who give generously (and often at great personal sacrifice) to make the world a better place.
How To Help Financially Through Stocks, Bonds, and Real Estate
Financial Support can take several different forms. In addition to outright cash gifts, we also accept real estate, stocks, and other conventional gifts. We can also be a designated beneficiary in your will. Below are some guidelines that should be used for informational purposes only. Please contact your lawyer for additional information and clarification.
Gifts of Real Estate
Gifts of appreciated real estate, held long term, may entitle you to an income tax deduction for the full fair market value of the donated real estate. It is also possible to make a gift of a personal residence, farm or vacation home, reserving the right to occupy it for as long as you or your spouse live. If this gift is irrevocable, you may qualify for an immediate income tax deduction. The amount of the deduction is calculated on life expectancy, therefore, the deduction will be greater if you are older at the time of the donation. Every person's situation is different, and it is essential that you consult with your attorney for legal guidance.
Closely Held Stock
A gift of closely held stock may produce a current income tax charitable deduction equal to the fair market value of the stock. You receive a tax benefit and the outstanding stock is returned to your business.
Bequests & Gifts Through Wills
In planning your estate, please remember that outright bequests to Reachout America, as well as certain bequests in a trust, are not subject to estate tax. Because these gifts reduce the size of your estate, they also reduce the size of your estate taxes. A bequest can take one of the following forms:
A specific bequest of a dollar amount or of particular securities or property.
A residuary bequest of all or a portion of your estate after the payment of specific amounts to other beneficiaries.
A contingent bequest to take effect only in the event that the primary beneficiaries under your will die before you.
A testamentary trust which takes the form of a life income plan, the corpus of which will be paid to Reachout America upon the death of the trusts income beneficiary.
Often, a bequest can be arranged simply with the addition of a codicil amending your existing will.
YOU CAN BEQUEATH:
The remainder or "residue" of your estate (what's left over after your other bequests)
Your entire estate
A percentage of your estate
A specific dollar amount or specific assets
A contingent bequest that passes to Reachout America in the event your primary beneficiary predeceases you.
To include a bequest to Reachout America in your will, we suggest this simple statement:
I give, devise, and bequeath to Reachout America NPO, Inc. at 301 Fontaine Road, Mableton, Georgia 30126, the sum of ____ dollars (or ____% of my residual estate, otherwise describe the gift) for the general purposes and uses of the Organization at the discretion of the Board of Directors.
CODICILS TO A WILL
If you do not want to rewrite your will you can still remember the Reachout America NPO by using a Codicil. As a charitable non-profit organization the Internal Revenue Service has designated Reachout America as a 501(c(3) organization. Our Federal Tax ID Number is 02-0728707. You may specify that your gift to Reachout America is for the ongoing support and continuation of the Reachout America NPO.
If you have an appreciating asset, it is often a wise tax-planning tool to consider giving these appreciated assets to a charitable organization. If you do so, then you are able to legally avoid paying a gain on the sale of the assets. For example, if some years ago you purchased a piece of land for $100,000 and through the years it has appreciated in value bringing its market value to $300,000 you can donate the land to a 501(c)3 charitable organization and claim as a tax deduction the full value, or $300,000, on your personal return. Although the actual amount you can receive benefit, as an itemized deduction, is limited to 50% of your AGI/Adjusted Gross Income, you can forward any excess forward to future years, in accordance with IRS tax law. Then if the charitable organization can then in turn, sell the property themselves and use the proceeds as they wish within the confines of their 501(c)3. This is a great advantage for all, as you are able to claim a tax deduction for the full $300,000, the charitable organization receives the benefit or the proceeds/use of the asset. Also, the taxpayer would be able to legally avoid paying either short or long term capital gains (depending on the term/length of your holding period/how long your owned the asset). For example, if someone had held the land for over a year and would be subject to paying capital gains rates of 15% on the sale of the land, if you sold it yourself. Accordingly, you would owe $30,000 on the sale ($300,000 sales price less tax basis in land of $100,000 times the 15% tax rate). If in turn you gave the after tax proceeds to a non-profit you would gain a tax deduction of $270,000 ($300,000 sales price less the $30,000 of taxes owed).
Tax law, surrounding the claiming of Noncash Charitable Contributions is in a constant state of flux. Being aware of the rules and regulations at the time of a substantive donation is essential to claiming, receiving and assuring the full tax benefit of any items and property contributions donated to a charity.