The Beauty Battalion - Featuring Beauty In All Shapes & Sizes December 2017 | Page 35

MAKE A LASTING DIFFERENCE
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FAMILY FEATURES
hether you’re considering ways to give to deserving
causes or looking for the perfect gift for a loved
one for a special occasion, remember that not every
gift is a tangible item. In fact, some of the best gifts
are those you can’t touch at all, but those that make the world a
better place.
Socially motivated gifts, of your own accord or on behalf of
someone else, are much more than a one-time present. They have
the potential to make a significant impact on lives or to further
the work of a cause-based organization.
Consider these giving options to make a lasting impact:
Retirement plans: Because retirement plans are taxed differently
than most assets, they may actually become a tax liability.
Naming a nonprofit organization as a beneficiary of your
retirement account can be an attractive option for leaving a
legacy and reducing income, and possibly estate taxes, for loved
ones. A tax-exempt organization may be eligible to receive the
full amount, bypassing income taxes. This means, for example,
that a $100,000 IRA can be worth the full $100,000.
Life insurance plans: A gift of life insurance is an affordable
way to make a significant gift while also enjoying tax savings
during your lifetime. Benefits include the ability to give a
significant gift at a fraction of the value; tax savings that can be
immediately realized; a reduction in the final taxes of your estate
and the ability to pass gifts outside of your estate.
Gifts of real estate: You may decide that the greatest gift you
can make is to leave your home or other property to a charitable
organization. This kind of gift is ideal for someone who intends
to continue living in his or her home or property through their
lifetime, but still make a charitable gift. You can leave this
generous gift by signing an agreement with an organization
about maintaining the property so you can use it throughout your
lifetime. You may even receive a tax deduction for your gift.
Gifts of stock: Stocks, bonds and mutual funds that have ap­­
preciated in value are among the best ways to gift a nonprofit
organization. You may receive a charitable income tax deduction
for the full market value of the stock (up to a maximum of 30
percent of your adjusted gross income) and avoid paying the
capital gains tax on any increase in the value of the stock.
Gifts of cash: This type of gift is simple and eligible for an
immediate charitable tax credit. Although many organizations
allow you to specify how you would like the funds to be used,
an unrestricted monetary donation allows the organization to
allocate your contribution into the project or area that needs
funds most.
If you designate a gift on someone’s behalf, be sure to share
a card or a note with the honoree letting them know about the
contribution. Particularly if it’s a cause close to the heart, it’s
sure to be just as gratefully received, if not more so, as any
trinket you might buy.
Find more ideas for gifts that make a lasting difference at
eLivingToday.com.
4 Ways to Make an Impact on Children
W
hen looking for opportunities to make an
impact on the lives of others, selecting a cause
to support can be an overwhelming task with
so many options to choose from. However, considering
opportunities that can change the lives of kids is one
way to make a lasting impact for generations to come.
Helping children early on can change the trajectory of
their lives, set them up for success and empower them to
achieve their dreams. This is especially important for kids
living in poverty who are not guaranteed access to things
like medical care and quality educations. According to
global humanitarian organization Children International,
nearly half the world lives on less than $2.50 a day and
1 in 5 kids in the United States lives in poverty.
Consider these ideas to make an impact on children
in need now and well into the future:
Become a mentor or coach. A positive role model
can make a life-changing difference for a child from
disadvantaged circumstances. As a mentor or a coach,
you can help children explore and nurture their unique
talents and guide them toward a successful future.
Volunteer at a local school. Families increasingly
rely on two incomes to support their households,
which means parents are less available to lend their
time to their children’s classrooms or schools. At the
same time, public school funding is shrinking. As a
volunteer, you can help fill these gaps and contribute
to bettering the learning opportunities for children in
your community.
Sponsor a child. You may be surprised to learn how
far a monetary donation can go. For example, Children
International supporters can join a monthly giving
program and sponsor a child in poverty for $32 per
month. Your donation establishes a connection with an
individual child who receives access to life-changing
benefits like medical care, educational support and life-
skills training. The institution is a CharityWatch top-
rated organization that serves 250,000 children in 10
countries. If a reoccurring donation is not right for you,
the organization also accepts one-time donations. Learn
more at children.org.
Donate new or used items. Service organizations such
as shelters generally operate on tight budgets and rely
on contributions from the community. Gently used
items in good condition such as children’s clothing of
all sizes and warm bedding are generally welcome.