5 Income Tax Deduction Tips for Charitable Donations

Stephen OvertonGiving to those in need makes us feel good and has the added benefit of reducing the amount of income taxes we have to pay. Using charitable donations to knock dollars off your tax bill is not always as easy as giving to your favorite charity. There are a few tips that will help you get the most out of the contributions you make this tax year.

Good Documentation

When it comes to the IRS, documentation is key. Keeping excellent records is essential to proving that you gave exactly the amount you claimed. Save any receipts, donation letters or thank you cards from the organizations to which you donated. If you donated clothing and household items to a charity shop, it is always a good idea to get photo documentation as well as a receipt. This can be used to confirm the value of your donation if the need ever arises.

Don’t Overlook Less Obvious Donations

When it comes to tax deductions, every dollar counts. Do not lose out on these deductions by neglecting to itemize the less obvious donations you make each year. When the cashier at the grocery store asks you to donate to their charity drive, save the receipt for a write off. When you donate your time to a charity, the time you spend is not deductible but any travel expenses you incur count toward your donations. You can also deduct any recurring donations you make from your paycheck or subscription donations from eligible charities.

Large Charitable Donations Require More Documentation

When you donate small value items or little sums of cash, receipts will suffice for proving the donation. When it comes to larger donations, be aware that they will come under more scrutiny and may require additional documentation. When a donation is above 250 dollars, the IRS requires detailed descriptions in addition to receipts, letters of acceptance and any relevant bank statements. A property donation of 5,000 dollars or more needs an appraisal completed by a professional.

Verify an Organization’s Tax Exempt Status

A costly mistake that taxpayers often make is contributing their cash or property to organizations that have not obtained tax exempt status. The IRS maintains a list of approved charities that are able to accept deductible donations. A charitable organization not on this list may accept donations, but you will be unable to legitimately itemize them on your taxes. Before you make a large contribution, ask to see their certification letter from the IRS. Of course you may still choose to donate to charities that do not retain tax exempt status, but be aware that they will not count toward your deductions.

Deduct the Value of Donation Gifts

Many charitable organizations will offer a gift as incentive for contributing cash. Taxpayers often overlook the need to deduct the value of the gift from the total donation. For example, if you make a small donation to your local public radio station, you must deduct the value of the branded tote bag you receive.

Seven Incredible Tampa Bay-Based Philanthropic Organizations That Deserve Your Help

070117-N-2456S-153<br />  Norfolk, Va. (Jan. 17, 2007) - Sailors from amphibious transport dock USS Nashville (LPD 13) raise a roof truss onto the top of the house they are building for Habitat for Humanity in Norfolk, Va. The work being done by Nashville Sailors is part of a ship-wide goal to dedicate 6,000 hours of community service time to the local area this year. U.S. Navy photo by Mass Communication Specialist Seaman John Suits (RELEASED)

Floridians love to give, volunteer and donate, but with the surplus of crowdfunding opportunities and non-profit organizations, sometimes it’s a bit difficult to figure out where one ought to donate their time. More than simply ignoring the internal strain that pulls at your heart, insisting that you give to local charities or volunteer at your neighboring soup kitchen, you should toss your support behind some incredible endeavors and organizations, including Habitat for Humanity.

Habitat for Humanity: Habitat for Humanity is an organization founded in 1976 by Linda and Millard Fuller. There are volunteers needed to construct homes across the Tampa Bay area.

Meals on Wheels: The delivery program that provides meals to shut-in individuals and others who are are unable purchase or prepare their own meals.

Metropolitan Ministries: The local, independent, faith-based nonprofit has long committed itself to providing hope and assistance to those in need located in the Tampa Bay region. By assembling and setting up furniture, and gathering school supplies, volunteers are generally able to help countless homeless adults, women, and children.

Moffitt Cancer Center: H. Lee Moffitt, who was a Florida state representative in 1978, roused conversation about developing a cancer center in Tampa. Though he himself had survived cancer, he’d lost more than more than one friend to the disease. The groundbreaking ceremony for his $70 million, the 162-bed facility took place during the early months of 1983. Today, volunteers can help to renovate the center. Also, they can help to bring in food, clothes, and school supplies, and they can assemble furniture.

United Way of Tampa Bay: A premier platform for community service and volunteering, UW connects helpful individuals with projects that are hands-on, fun, and flexible. Participants are offered a choice of sites to offer their services to.

Tampa Bay Harvest: TBH operates through sponsors and donors who enable city-wide growth. The volunteers who commit themselves to all-volunteer organization transport donated food to individuals who can’t otherwise afford it.

Sunken Gardens: Sunken Gardens is St. Petersburg’s oldest living museums and volunteers attending to this facility are tasked with feeding the birds, tending to the garden, and filing paperwork.
If you’re interested in learning about some other places to volunteer, click here to learn more.

95-Year-Old World War II Veteran, Florida-Resident is a Philanthropist & VA Clinic Greeter

Stephen OvertonTony Caruso, New Port Richey VA clinic greeter and 95-year-old World War II veteran, selflessly offers his time and money to his community, singularly demonstrating the importance of volunteerism, charity, and philanthropy.

Caruso is the first face one would see if she/he paid the New Port Richey VA clinic a visit. He recently told FOX 13 News that he spends days a week at the clinic, giving a cumulative 17,000 hours.  

“I love it. I love to be with the people, try to help them,”he said speaking of the clinic goers he’s interacted with over the two decades he’s volunteered at the clinic. Generous with his smiles and money, he gives $200 each month to the clinic.

Nearly a century old, Caruso was just a 21-year-old when he arrived on Omaha Beach during D-Day, which was the Allied invasion of Normandy, helping to liberate Western Europe from Nazi Germany’s control. He describe the events of 1944 as “hell” and said that dead people were floating in the water. Caruso became a soldier after he and his family emigrated to the U.S. from Italy in 1937.  As a 16-year-old, he worked several jobs to support his poor family.

The New Port Richey VA Outpatient Clinic is located in New Port Richey, Florida. It can be found near Little Road, north of State Road 54 and south of State Road 52 at 9912 Little Road. The facility offers a numbers of services to veterans in the Pasco, Hernando and Northern Pinellas area. Everything from primary care to personal care, to speciality needs, to ancillary services, to patient education is available at the clinic, which is open from 8:00 – 5:00, Monday – Friday.


The Highest Rated Charities in Tampa Bay

Catholic_Charities_Chicago,_Photo_1_-_Flickr_-_USDAgovMerriam-Webster describes charity as the voluntary giving of help, typically in the form of money, to those in need or an organization set up to provide help and raise money for those in need. There ways to be charitable and an innumerable amount of charities. Here’s the list of the highest rated charities in Tampa Bay:

National Pediatric Cancer Foundation
Charity Navigator Rating: 100
Revenue: $2,316,991
Program Expenses: 88.1%

Over the past 23 years, the Pediatric Cancer Foundation has donated more than $6 million to researchers. For the first 15 years, the Pediatric Cancer Foundation funded seed grants at St. Joseph’s Children’s Hospital and Moffitt Cancer Center in Tampa, All Children’s Research Institute in St. Petersburg, the University of Florida in Gainesville, and the University of Miami School of Medicine.”

Step Up for Students
Charity Navigator Rating: 100
Revenue: 4457,846,020
Program Expenses: 98.9%

“Step Up For Students (SUFS) is a state-approved nonprofit % Scholarship Funding Organization that helps administer the Personal Learning Scholarship Account-PLSA (Special Needs Scholarship) and the Florida Tax Credit Scholarship Program (Income-Based Scholarship).”

Big Cat Rescue
Charity Navigator Rating 99.55
Revenue: $3,454,936
Program Expenses: 82.8%

“Big Cat Rescue is one of the largest accredited sanctuaries in the world dedicated to abused and abandoned big cats. We are home to about 80+ lions, tigers, bobcats, cougars and other species most of whom have been abandoned, abused, orphaned, saved from being turned into fur coats, or retired from performing acts.
What sets Big Cat Rescue apart is that we are working to end the abuse at its root by ending the private possession and trade in exotic cats through legislation and education.”

Alpha House of Tampa
Charity Navigator Rating: 97.9
Revenue: $1,701,802
Program Expenses: 83.4%

Alpha House was recently listed on the Top Ten List of Best Charities in Tampa Bay by Charity Navigator.  Alpha House received a rank of 97.9%.  This placed Alpha House fourth on the list of Top Ten Charities in the area.  Alpha House uses 83.4% of all revenue to fund programs and services, a key factor in the high ranking.  At Alpha House, we strive to be fiscally responsible to our clients and the community.  This ranking shows that all our hard work is paying off in terms of getting needed services to the members of the community we serve.”

Southeastern Guide Dogs
Charity Navigator Rating 97.34
Revenue: $15,808,134
Program Expenses: 81.6%

“Founded in 1982, Southeastern Guide Dogs employs the latest in canine development and behavior research to create and nurture partnerships between visually impaired individuals and extraordinary guide dogs. We serve more than 400 graduates across the U.S. and continue to place more than 100 dogs each year into careers benefitting people with visual impairments, and veterans.

Clearwater Marine Aquarium
Charity Navigator Rating: 97.21
Revenue: $18,295,101
Program Expense: 84.8%

“Clearwater Marine Aquarium believes in preserving our environment while inspiring the human spirit through leadership in the rescue, rehabilitation, and release of marine life, environmental education, research, and conservation.”

Humane Society of Tampa Bay
Charity Navigator Rating:96.46
Revenue: $7,203,399
Program Expenses: 88.2%

For more than 100 years, the Humane Society of Tampa Bay has been dedicated to ending animal homelessness and providing care and comfort for companion animals in need. Named a Four-Star Charity by Charity Navigator since 2008, and accredited by AAHA, the standard in veterinary excellence, the Humane Society of Tampa Bay is dedicated to the highest standards in animal sheltering and veterinary care. Our adoption programs, affordable veterinary services, community outreach efforts and volunteer opportunities are essential to the health and well-being of animals across Tampa Bay.”

St. Petersburg Free Clinic
Charity Navigator Rating: 96.46
Revenue: $11,590,365
Program Expense: 92.7%

“St. Petersburg Free Clinic is a multi-service, independent, not-for-profit human services agency providing our community neighbors assistance with food, shelter and health care. We have been caring for the underserved facing temporary emergency needs throughout Pinellas County since 1970.”

Special Operations Warrior Foundation
Charity Navigator Rating: 6.46
Revenue: $14,489,649
Program Expenses: 86.8%

Special Operations Warrior Foundation ensures full financial assistance for a post-secondary degree from an accredited two or four-year college, university, technical or trade school, as well as family and educational counseling, including in-home tutoring, to the surviving children of Army, Navy, Air Force and Marine Corps special operations service members who lose their lives in the line of duty. The foundation also provides immediate financial assistance to severely wounded and hospitalized special operations service members. The Special Operations Warrior Foundation is committed to providing scholarship grants – not loans – to over 1,100 children, who survive over 900 special operations service members who gave their lives in service to our country.

Religious Community Services
Charity Navigator Rating: 96.13
Revenue: $7,346,757
Program Expenses: 87.7%

That focus remains strong today as RCS directs resources to people facing hunger, homelessness, domestic violence and basic needs. RCS has evolved into a cooperative of professional staff members, integral volunteers and partnering faith congregations delivering reliable services to those most vulnerable in Pinellas County. RCS continues to use research, communication and best practices to be a premier community-based agency providing help & hope to people in need.”

Metropolitan Ministries Outreach Centers Gifted Zika Kits to the Homeless in Tampa

people-878512_960_720Metropolitan Ministries Outreach Centers, a Tampa Charity, has consigned Zika kits to homeless community members in Holiday and Tampa, Florida.

With more than 200 documented cases of Zika, a disease that spreads through mosquito bites, in Florida, a local charity saw that hundreds of families living in their cars, tents and in the woods received kits to protect them from multiple mosquito-borne diseases, including Zika.  Metropolitan Ministries began their efforts by giving out approximately 150 Zika-prevention kits to homeless individuals, who live without proper window screens or air conditioning.

According to Metropolitan Ministries’ Shawn LaFata, the homeless community is particularly  vulnerable during the summer months, that’s in addition to facing environmental conditions, such as rain and heat. The “Zika Virus Kits,” which is equipped with mosquito netting, mosquito spray, and water treatment tablets to place in standing water, will help to protect the homeless. Also, homeless individuals can seek out the group’s outreach centers to have  their personal items and clothes sprayed for protection.

“Hundreds of homeless families across Tampa Bay are living in their cars, tents and in the woods in this extreme summer heat,” a Metropolitan Ministries blog states. “The Zika virus is a new threat to the area. For little children, and expectant mothers, these conditions are dangerous. It’s not uncommon for us to see homeless children and parents covered in bug bites.”

Late June, Gov. Rick Scott authorized the $26.2 million on the purchase of Zika prevention kits and killing mosquitos. Additionally, the Florida Department of Health will send money to counties and districts ridden with mosquitos.

The Zika virus transmission cycle begins with symptoms,  such as rash, fever, joint pain, and conjunctivitis (red eyes), and it spreads when a person infected with the virus due to maternal transmission from mother to baby in the womb,  unprotected oral, vaginal or anal sexual intercourse, or when an Aedes mosquito bites an infected person and then an that mosquito bites another person. Also, Zika can be transmitted through blood transfusion, and through the exchange of bodily fluids, including urine and saliva.  With that said Dr. Satish Pillai, the CDC’s incidence manager for the case, has told reporters, “We don’t have evidence that Zika can be passed from one person to another by sneezing, coughing, by hugging or kissing.”

Presently, the Zika virus is still extremely rare in the U.S., with there being fewer than 1,000 cases diagnosed nationwide. However, the short-term disease is serious, and it can trigger paralysis (Guillain-Barré Syndrome) and subsequent birth defects in some women. Despite a Utah case where a patient died from the Zika virus, it’s not normally deadly and not necessarily dangerous to anyone beyond developing fetuses. The worst that normally happens are muscle aches, fevers, and rashes.

With the second highest rate of Zika viruses in the nation (approximately 162 cases as of June 22), Florida-dwelling individuals living in poverty are particularly vulnerable. According to the Tampa Hillsborough Homeless Initiative, the Tampa area has more than 1,800 homeless individuals. Also, statewide, the figure rises to 35,964 homeless people.

Visit CDC to learn more about the Zika virus and visit the Metropolitan Ministries website to learn more about the work they do to house and help the community of Tampa. To help protect more homeless families from Zika, you can donate a kit here.