Newsletter Archive

Marotta On Money - November 08 Newsletter

Philanthropy and Charitable Giving

When Donating a Dollar Only Costs Five Cents (11-08-2010)

According to a poll published last month by Fidelity Investments, Americans are likely to give the same amount or less to charity in 2010. But Virginians are fortunate to have a reason to donate 23 times more to charity this year. Virginia offers tax credits in exchange for donations to nonprofit organizations serving the truly needy. More than 200 charities have been designated Neighborhood Assistance Programs (NAPs). Donors to these approved charities are eligible to receive a Virginia tax credit for 40% of the value of their total contribution. Thus a gift of $1,000 to a NAP qualifies for a $400 Virginia tax credit.
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In The News

Free Seminar at Northside Library: "Philanthropy Isn't Just for the Rich"

As part of the nonprofit NAPFA Consumer Education Foundation, we are offering a presentation titled "Philanthropy Isn't Just for the Rich" at the Charlottesville Northside Library at 300 Albemarle Square, on Wednesday, November 10, from 7:00 to 8:00 p.m. with a question-and-answer session to follow. The talk is free and open to the public.

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Featured Video

Video: Health Savings Accounts May Save You Money

Donor Advised Funds (02-12-2007)

Donor Advised Funds offer the charitably inclined new flexibility for managing gifts to charity. By funding an account, donors receive an immediate tax deduction for their contribution and gain the flexibility to direct payouts to charity on their own timetable. However, donor advised accounts are not for everyone. Before funding an account of your own, consider the cost. Using a donor advised fund to manage your charitable donations may actually diminish the tax benefits of giving. The growing popularity of donor advised accounts is due, in part, to the hassle-free gifting solutions they offer givers.
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