Click here to close now.




















Welcome!

Release Management Authors: Jnan Dash, Liz McMillan, Lori MacVittie, Gilad Parann-Nissany, Carmen Gonzalez

News Feed Item

End-of-Year Charitable Giving, Tax Deduction Deadline Nears

Tips For Charitable Giving: Research Nonprofit Organizations; Understand Current Laws To Maximize Tax Deductions

Seattle #1 in online giving  

SEATTLE, Dec. 28, 2012 /PRNewswire-USNewswire/ -- End-of-the-year charitable giving to favorite nonprofit organizations is on the to-do list for many King County residents this week, inspired by a spirit of generosity as well as a feeling of uncertainty as Congress debates the future of the charitable tax deduction.

The average person makes 24 percent of his or her annual donations between Thanksgiving and New Year's Eve, according to research from the Center on Philanthropy.  There is speculation that that may increase this year, as people step up their giving in preparation for a potential change in the charitable tax deduction.  Congress is debating whether to eliminate or limit the tax benefit for charitable donations as part of the broader "fiscal cliff" negotiations.

"Generosity, the holiday spirit and year-end tax planning are a powerful combination in philanthropy," says Norman B. Rice, president and chief executive officer of The Seattle Foundation.  "The uncertainty around the charitable tax deduction may prove to be a catalyst that spikes year-end giving even more than usual."

The Seattle Foundation, which manages more than 700 charitable giving funds for families and businesses in King County, is seeing a steady flow of gifts as we approach year-end, including many in the form of appreciated stock. Under current tax law, donations of long-term capital gain assets, such as appreciated stock, generally qualify for a deduction at the fair market value, enabling donors to avoid capital gains tax on the appreciation. This strategy is appealing for two reasons. Stocks, in many cases, have regained value lost in the recession and given the potential of charitable deduction limits in 2013, it may be a tax-wise and generous gift.

Strategies for End-of-Year Giving

The Seattle Foundation advises people making end-of-the-year gifts to consider the following:

Open a donor advised fund  If you are concerned about the future of the charitable tax deduction, this may address your fears.  A donor advised fund is a charitable giving account that allows you to donate now and secure a deduction for 2012, and make decisions in the future about specific gifts to nonprofits.  The money in your donor advised fund is invested and can grow tax-free, as you recommend when and where gifts are made.  Donor advised funds are available from community foundations, such as The Seattle Foundation, and some national financial services firms. 

"A donor advised fund is the perfect tool for people who want to make a gift by year-end but are uncertain as to how they specifically want their charitable dollars distributed," said Rice.  "It also makes giving much easier, allowing people to focus on their philanthropy free of checkwriting and reporting as we handle all of that."

Research the nonprofits  Seek out organizations that match your specific interests and demonstrate financial health, accountability and transparency, and meaningful impact.  People interested in finding organizations and causes to support have a very useful resource in The Seattle Foundation's website, which offers a directory of more than 1,500 nonprofits serving King County. The site makes available for the first time The Seattle Foundation's internal evaluations of nonprofit organizations, helping you make the wisest decisions possible with your giving dollars.  At the website's "Giving Center," you can search nonprofits to find groups that best match your interests by mission, geography, clients served and other criteria. A search of nonprofits for the topic "housing," for example, can be refined to organizations specifically supporting homeless individuals with special needs on the Eastside.  

Make Unrestricted Gifts  If you are confident in the health and management of the nonprofit organization, then make an unrestricted gift that will allow it to use the funds where they are most needed.  Nonprofits face substantial reductions in government funding and unrestricted gifts to support basic operations, rather than earmarked for individual programs, are critical. 

Focus Your Giving:  Consider making fewer, larger gifts and focusing your giving in one area.  Larger gifts have larger impact, which is important to you as the donor.  More targeted giving also enables you to become more focused, passionate and knowledgeable about the causes you care about.  And from the recipient's perspective, keep in mind that nonprofits have transaction and cultivation costs associated with every gift, regardless of size.

Seattle Ranks #1 in Online Giving

Given our region's standing as a leading technology hub, it's no surprise that Seattle was #1 in Convio's annual ranking of the top ten most generous large cities in online donations during 2011, based on per capita giving.  The 2011 rankings are based on the almost $1.355 billion in total online donations generated through the Convio online services used by nonprofit organizations across the nation.   Seattle held the fourth ranking in 2010.  (Note:  The Seattle Foundation does not use Convio services.)

This is good news for King County nonprofits, who can expect to see a spike in online gifts in the coming days.  Twenty-two percent of all online gifts to charities are made in the last two days of the year, according to Network for Good. 

The Seattle Foundation's web site facilitates online giving to hundreds of nonprofit organizations.  It is also the centerpiece of GiveBIG, the day-long online giving campaign held on May 2, 2012 that asked people to visit www.seattlefoundation.org and donate to their favorite nonprofit organizations.  People made a total of more than 37,000 online gifts totaling $7.4 million for GiveBIG, and those donations were matched by $800,000 from The Seattle Foundation, local companies and philanthropists. The success of GiveBIG boosted online gifts made through www.seattlefoundation.org to $7.7 million up from $3.6 million in 2011. 

"Online giving is growing dramatically here and across the nation," said Rice.  "Donors favor the ease and convenience and it enables people to respond very quickly in times of crisis and national disasters."

Established in 1946, The Seattle Foundation fosters powerful and rewarding philanthropy to make King County a stronger, more vibrant community for all.  It is the oldest and largest community foundation in the region, with more than 1,200 family, business and nonprofit funds and assets of more than $600 million. The Seattle Foundation awards more than $60 million in grants each year. Learn more about the Foundation and visit the Giving Center at www.seattlefoundation.org.

SOURCE The Seattle Foundation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...