Your tax-deductible, charitable contributions are vital to Abilities' mission. MAKE A DONATION NOW USING YOUR CREDIT CARD by calling or e-mailing Frank De Lucia at 727-600-8900 or firstname.lastname@example.org
Gifts of Cash — Contributions made with cash, checks, or credit cards are the easiest and most popular methods of giving. VISA, MC, AMEX, Discover cards accepted.
Matching Gifts — Many companies have programs that will match your gift to Abilities on a dollar-for-dollar (or more) basis. Check to see if your employer, or company from which you have retired, participates.
Memorial Gifts — A wonderful way to pay tribute to a deceased relative or friend. These gifts are often made in lieu of flowers, or as a special remembrance. Families of honorees receive notification of your gift.
Commemorative Gifts — Why not commemorate a birthday, holiday, anniversary, or graduation with a gift in honor of a loved one? Won't people be surprised when they receive a letter from us advising them of your admiration?
Circle of Honor — Benefactors who contribute $1,000 or more qualify for and are publicly recognized at the Circle of Honorees.
To make a contribution by mail, please make your check payable to the Abilities, Inc. and forward to Frank De Lucia, Abilities, Inc. 2735 Whitney Road, Clearwater, FL 33760-1610, or call 727-600-8900.
Year-end gifts of
cash vs. stocks
hope you'll consider a year-end donation. Gifts of cash are fully
deductible up to a maximum of 50% of your adjusted gross income. And we always
welcome cash contributions. However, if you donate stocks or other assets that
have gone up in value and you've owned them for longer than 12 months, it's
generally more beneficial to contribute stocks than cash. This is because a
gift of appreciated stock offers a two-fold tax-savings: first, you avoid
paying any capital-gains tax on the increase in value of the stock; second, you
receive an income-tax charitable deduction for the full fair-market value of
the stock at the time of the gift.
Do you need a will?
conversations with friends of Abilities, we've learned that many do not
have a will, or they have a will that hasn't been updated for a number of years
and does not reflect their present wishes and circumstances. Do you need a
will? Is it important that it is current? The answers are a definite YES! If
you wish what you have accumulated will be distributed as you desire, and not
as someone else, usually the state, determines, you must have a current will.
The answer is also a definite YES if you wish to avoid problems for your heirs
and save on costs. And the answer is also a definite YES if you wish to include
a bequest — which we hope you do — to help Abilities or another
favorite charity. A bequest has been rightly called the 'The Last Act of
Stewardship,' as it is a final opportunity to express thanks for the many gifts
we've received throughout our lifetime. Please be certain to seek the advice of
your attorney and tax advisor when planning how your assets will be
distributed. And as you create or revise your will, kindly keep Abilities in mind. There are many ways to ensure that you provide for your
family and loved ones AND help to further our mission to improve the lives and
families of Floridians with disabilities.
Giving through memorials
gifts to Abilities are a wonderful way to pay tribute to a deceased
relative or friend. Often made in lieu of flowers or as a special remembrance,
these thoughtful gestures underscore your support of our mission. Why not
commemorate as well, a birthday, holiday, anniversary, or graduation with a
tax-deductible gift in honor of a loved one? Won't people be surprised when
they receive a letter from us advising them of your generosity and admiration?
Use corporate matching gift programs
president Dan Mettee took our corporate matching gift advice to heart. As a
retired Levi Strauss executive, Dan inquired about matching gifts and was told
that his volunteer hours might quality. He submitted an application based on
the number of hours he logged for the Abilities Guild last year. Shortly
thereafter, Abilities received a $1,600 contribution from the
Levi Strauss Foundation in recognition of Dan's volunteerism! "I really
didn't know what to expect," he said, "but I was so pleased they
acknowledged my support of the Guild." Many thanks to Dan for pursuing
this wonderful opportunity. Insofar as many corporations match charitable
contributions, we strongly encourage you and your spouse to inquire with your
current employer or company from which you've retired. A dollar-for-dollar
match or gift in recognition of your volunteerism is a quick and painless way
to support our work. Call Frank De Lucia at 727-600-8900 for more information
and a list of corporations with matching gift programs.
Community Contributions Tax Credit
corporate taxpayers who help our Homes For Independence program acquire or
improve residences for Floridians with disabilities classified as having low
income may qualify for the Community Contributions Tax Credit, which, when
combined with state and federal income-tax deductions, can reduce the after-tax
cost of their donations to 29¢ on the dollar! Sounds too good to be true, but
isn't. A brief application that we complete and submit does it all. Among those
who've utilized the credits are Raymond James, Tech Data, and Jim's
Harley-Davidson. To support affordable, accessible housing and take advantage
of this extraordinary tax incentive, call Frank De Lucia at 727-600-8900 for
Philanthropy through life insurance
tax-wise method of support is a gift of life insurance, which
may be an option for people who no longer need the financial protection of an
existing policy. Assigning a life insurance policy to or designating the
Abilities, Inc. as charitable beneficiary is an easy way to make a
substantial gift without reducing current assets. Also, you may qualify for an
immediate income-tax deduction. For more information, consult your tax advisor
or call 727-538-600-8900.
Ease a veteran's transition from homelessness to apartment life with a
An alarming number of disabled veterans are homeless or living in substandard
housing. Even after veterans qualify for subsidized housing assistance from the
VA, most don't have basic essentials like coffeemakers, crock pots, pots 'n
pans, dishes, linens, and towels. Unwilling to accept this reality, the
Abilities Guild established the Veterans Mall, a large storeroom of household
items given for free to disabled veterans and their families. To date, 1,100
veterans have been served, but the demand for items far outweighs the supply.
Kindly consider making a tax-deductible contribution to Abilities, Inc. Your
gift will be used to purchase kitchen and bath essentials at discount prices
and ensure that veterans will have the basics they need to a successful
transition to community life.
Avoid becoming a victim of identity theft
theft occurs when someone uses another's personal information without their
permission to commit fraud or other crimes using the victim's name, Social
Security number, or other identifying information. When it comes to federal
income taxes, taxpayers may not be aware they have become victims of identity
theft until they receive a letter from the IRS stating more than one tax return
was filed with their information or that IRS records show wages from an
employer the taxpayer has not worked for in the past. Recent accounts in the
news underscore just how difficult it can be to rectify the situation with the
IRS, banks, and credit card companies.
Tips for Deducting Charitable Contributions
When preparing to file your federal tax return, don’t forget your contributions to charitable organizations. Your donations could add up to a sizeable tax deduction if you itemize on IRS Form 1040, Schedule A. Here are a few tips from to ensure your contributions pay off on your tax return:
1. Contributions must be made to qualified organizations to be deductible. You cannot deduct contributions made to specific individuals, political organizations and candidates.
2. You cannot deduct the value of your time or services, nor can you deduct the cost of drawings, bingo, or other games of chance.
3. If your contributions entitle you to merchandise, goods or services, including admission to a charity ball, banquet, theatrical performance or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.
4. Donations of stock or other property are usually valued at the fair market value of the property. Special rules apply to donation of vehicles.
5. Clothing and household items donated must generally be in good used condition or better to be deductible.
6. Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution.
7. To claim a deduction for contributions of cash or property equaling $250 or more you must obtain a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document from the organization may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more.
8. If you claim a deduction of more than $500 for all contributed property, you must attach IRS Form 8283, Noncash Charitable Contributions, to your return.
9. Taxpayers donating an item or a group of similar items valued at more than $5,000 must also complete Section B of Form 8283, which requires an appraisal by a qualified appraiser.
For more information on charitable contributions, check out Publication 526, Charitable Contributions, which is available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).
* Source: IRS Tax Tip 2009-57