Did you rush to give -- and reap the tax benefits -- at the end of the year?
With the potential for changes to the charitable giving deduction, income and estate tax rates, some big philanthropists made 11th hour contributions to take advantage of the existing tax breaks, according to The Washington Post. Smaller donors -- old clothes and household goods in tow -- acted quickly, too. Traditionally, wealthy donors make year-end donations, with many high profile people doing so in 2012. Facebook founder Mark Zuckerberg gave almost $500 million to a foundation; producer David Geffen earmarked $100 million for medical scholarships and publisher Mort Zuckerman added $200 million to Columbia University’s coffers. Stacy Palmer, editor of the Chronicle of Philanthropy, told the Post that “some people have accelerated …
A handy guide to donating toys this holiday season.
- VOLUNTEERS IN THE NEWS
- Ben Gross
Sunday, November 18, 2012
In 1947, Diane Hendricks made a doll and asked her husband, Maj. Bill Hendricks, a U.S. Marine Corps Reserve, to find a local charity in the Los Angeles area that would give it to a needy child. When he was unable to locate one, she suggested that he start one. That year, Maj. Hendricks teamed with other Marine reservists, collecting and distributing 5,000 toys to children that year. In 1948, the Marine Corps adopted the Toys for Tots program and it has been running steadily since, with the help of celebrities such as Bob Hope, Kenny Rodgers and First Lady Michelle Obama. One little known fact – Walt Disney designed the organization’s logo. You can drop off toys at Toys and/or Babies R Us, or one of the locations listed below. You can …