Just when we were beginning to feel good about President Obama's approach to developing some intelligent choices for creating jobs and cutting excessive government spending, the president shoots himself in the foot with a plan that would penalize the nation's charities and churches by limiting deductions on contributions from the largest givers. If that isn't bad enough, he knows he has to forge a plan that will pass the Republican House of Representatives, and this one won't. House Speaker John Boehner, who recently had indicated a willingness to work with the president, rightfully said: "This proposal doesn't appear to have been offered in the bipartisan spirit.
WASHINGTON, March 15, 2011 /PRNewswire-USNewswire/ -- Cuts in charitable tax deductions proposed by both the Bowles-Simpson Deficit Reduction Commission and President Obama's 2012 budget, and uncertainty over implementation of so-called "Obamacare" could severely limit the ability of nonprofit health care institutions to raise donations to support free services for the poor and pay for new equipment and facilities, warns a new national survey by the Association for Healthcare Philanthropy (AHP). The President's budget seeks to cap charitable deductions at 28 percent, while the Bowles-Simpson proposal would reduce the tax incentive for charitable giving to a 12 percent tax credit for donations that exceed two percent of a taxpayer's adjusted gross income.
Some people are finding ways to turn small investments into big dividends for good causes. They use coupons, store promotions and sales to stretch their charitable dollars on behalf of agencies that help the needy. By using creative shopping techniques, people like Stephanie and Jerry Purkey of Bloomington, who live on fixed incomes themselves, have been major food contributors to their favorite charity, Clare House food pantry in Bloomington, for 16 years.
Animal Protection of New Mexico has reached a benchmark milestone with their Equine Protection Fund. This core program of Animal Protection of New Mexico has provided aide and assistance to 100 horses, donkeys and mules since the program began last year. One hundred potential cases of starvation, displacement and needless suffering were averted through the charitable donations and the efforts of the fund's volunteer network
OXFORD -- Selectmen voted to accept $5,000 in donations to two town charitable accounts. On the Monday before Thanksgiving, Black Bear Entertainment announced $40,000 in donations to local organizations, including $4,000 to Keep Oxford Warm and $1,000 to the town's holiday food account.
The end of the tax year - and the coming holidays - make this an excellent time to consider tax-deductible charitable donations. More than ever, not-for-profit organizations need your support: Charitable donations decrease during times of economic recession, just when more people need help. But to whom, how, and how much you give are decisions you need to make based on solid information, not just emotions. Luckily, it's easier than ever to research charities and to make donations.
The AGAPE Center Who would have thought the lake would need another large ministry of benevolence? This question would have especially been relevant in 2004 when the economy was booming, housing prices were rising and SML was a thriving community.
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