As a tax professional, I often encourage my clients to give to charity to reduce their tax burdens. Not only does it reduce your tax burden, but giving to charity is just the right thing to do. There are many charities that do not do much good with the money that they are given, while others support worthwhile causes. I took great pains to ensure that everyone on this list does what they say they are going to do. Here are a few of my favorites (along with their mission statement):
Institute for Justice - Founded in 1991, the Institute for Justice (IJ) advances a rule of law under which individuals can control their destinies as free and responsible members of society. IJ litigates to secure economic liberty, school choice, private property rights, freedom of speech and other vital individual liberties and to restore constitutional limits on the power of government. IJ provides legal counsel to inner-city entrepreneurs, because their freedom to shape their own businesses directly affects their freedom to shape their own lives and communities. In addition, IJ trains law students, lawyers, policy activists and grassroots organizers in the tactics of public interest litigation and advocacy for liberty. Through these activities, IJ challenges the ideology of the welfare state and illustrates and extends the benefits of freedom to those whose full enjoyment of liberty is denied by government.
Georgia Goal Scholarship - Georgia Goal Scholarship gives children an opportunity to escape poorly performing schools and be able to get into better performing private schools. The really cool thing about this scholarship is that you get a dollar for dollar tax credit of up to $1,000 on your Georgia state income taxes as well as the deduction on your federal taxes. So you actually get paid to donate to this charity!
Atlanta Children's Shelter - Founded in 1986, the Atlanta Children's Shelter provides free, quality day care, emotional support, an educational curriculum for homeless children, and focused social services for their families. Dedicated to helping families overcome the issues that contribute to homelessness, including domestic violence and job loss, the Atlanta Children's Shelter focuses on the long-term self-sufficiency of the family - which sets us apart from other Atlanta homeless shelters. Since our opening, the Shelter has provided loving care for 8,000 homeless children and helped guide 5,000 homeless families to stable, self-sufficiency.
Atlanta Community Food Bank - The Atlanta Community Food Bank works to end hunger across metro Atlanta and north Georgia with the food, people, and big ideas needed to make sure all members of our community have access to enough nourishment to live a healthy and productive life. We all need nutritious food to live the lives we imagine. Yet far too many people in our own community experience hunger every day, including children, seniors, and working families. Through more than 600 nonprofit partners, we help more than 755,000 people get healthy food every year. Our goal is that, by 2025, all hungry people in our service area will have access to the nutritious meals they need when they need them. It takes the power of our whole community to make that possible.
St. Jude Children's Research Hospital - The mission of St. Jude Children's Research Hospital is to find cures for children with cancer and other catastrophic diseases through research and treatment. Research efforts are directed at understanding the molecular, genetic and chemical bases of catastrophic diseases in children; identifying cures for such diseases and promoting their prevention. Research is focused specifically on cancers, some acquired and inherited immunodeficiencies, sickle cell disease, infectious diseases and genetic disorders.
Homes for Our Troops - Homes For Our Troops (HFOT) is a privately funded 501(c) (3) nonprofit organization that builds and donates specially adapted custom homes nationwide for severely injured post - 9/11 Veterans, to enable them to rebuild their lives. Most of these Veterans have sustained injuries including multiple limb amputations, partial or full paralysis, and/or severe traumatic brain injury (TBI). These homes restore some of the freedom and independence our Veterans sacrificed while defending our country, and enable them to focus on their family, recovery, and rebuilding their lives. Since its inception in 2004, nearly 90 cents of every dollar has gone directly to our program services for Veterans. HFOT builds these homes where the Veteran chooses to live, and continues its relationship with the Veterans after home delivery to assist them with rebuilding their lives.
You may also check with your local zoo, aquarium, museum, or arts center. Often times you can get an annual membership that allows you free entry into their (and sometimes their affiliates) facilities for a little more than the cost of a single ticket. The membership is tax deductible, whereas the single day ticket is not.
Finally, I encourage you to invest in your own community. Public (and some private) schools and churches are non-profit and gifts to them are tax deductible. Before you give, make sure most of the money goes towards the cause. All of these charities contribute at least 73% of their income towards their cause, most significantly higher. There are many charities that have similar sounding names, but only an abysmal percentage of their revenue towards the cause.
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