Happy New Year! I would like to remind you to compile the information for all of the donations that you have given in 2010 that may be deductible on your tax return.
Be sure to complete a written list and make sure that you have receipts and/or proof of payment of each donation. Proof of payment of your donation is a requirement in order to include it in your taxes for the year. Perhaps you charged the donations on your credit card or added them to a debit purchase when buying groceries or other items. When you donate clothing to a non-profit, you can obtain a receipt from the organization and then assign an estimated value to the items donated. This is your estimate, not an estimate by the charity. Consult your tax preparer on any items such as stock donations or valuable collections that you may have donated. They require specific documentation not included in the required proof of payment and lists described above.
As you strategize other tax based decisions for the upcoming year, please consider the SSWBN Educational Foundation, Inc. in your plans for 2011. Please note that all donations to the SSWBN Educational Foundational, Inc. are tax deductible to the extent of the IRS Regulations.
I find that the decision to donate is not necessarily based on the fact that you may be eligible for a tax deduction. Most of the time, it is due to the generosity of your soul and the hope that you can make a difference in someone else’s quality of life. These feelings are compelling reasons to give.
Each year, all of us consciously and unconsciously decide how we are going to give to the many non-profit organizations who solicit us for donations. Some people divide their donations among many deserving groups, while others donate to one organization and many select a few. One very important hope is that we all would like to give to an organization that spends as much money on the recipients as possible. In that regard, the SSWBN Educational Foundation is an organization that has very low overhead and a very high percentage of the donations are made to the scholarship recipients. We have a formal application process and award as many scholarships as possible based on the funds available.
Many people have given to the Foundation over the years and we all are truly appreciative of the donations. The lives of each one of the scholarship recipients have changed thanks to funding for education that the Foundation has provided. Each year, we are touched by the individual stories of the women who apply. Our own lives are greatly enhanced by the knowledge that we have made this advancement possible.
Please consider that your donations go directly to the women who work night and day to achieve a lifelong dream of education. Start your giving early and give often!
Thank you kindly,
Elizabeth A. Pineault
