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Every Little Bit...

College Football Resource has opened opened its heart and mobilized the college football blogosphere to engage in some information dissemination about where blog readers can contribute to the Hurricane Katrina relief effort.

As an alumnus of Syracuse University, I encourage anyone interested in assisting those in need to contribute to the university's relief fund. All donations will find their way into the hands of the American Red Cross.

I'd also like to offer some words of advice to those contemplating contributing to an organization that isn't the American Red Cross or Syracuse's relief effort. As a law student concentrating in tax matters, I hope the following is at least helpful to anyone interested in helping out.

As much of a pain in the ass as it may be, be sure to research the organization you are planning to donate to. Many organization's fundraising efforts are not spearheaded by the organization itself, but rather by an external organization that often takes a portion of the contributions. So, be such to ask what percentage of your contribution will go toward the relief organization of your choice. The object here is to provide as much relief to those in need as possible, not entities seeking to gain profit as a result of this terrible tragedy.

Additionally, many relief organizations are classified as 501(c)(3) entities which entitles a contributor to a section 170 tax deduction. However, all organizations engaging in "charitable" efforts are not always characterized as such. Organizations that are not classified as 501(c)(3) entities, generally, do not entitle a contributor to deduct any monies donated to them.

So, if you are concerned with receiving a tax deduction for your generosity, be sure to ask whether your contribution is eligible for a federal income tax deduction.

1 Responses to “Every Little Bit...”

  1. # Anonymous CFR

    Matt,

    Nice!

    Just added you.  

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