While preparing to review “Saving Money,” a children’s primer, I noticed that the book’s frontispiece indicated it was purchased by the Donald E. Garrant Foundation.  Curious, I Googled the name to find that it is a corporate philanthropy dedicated to financial literacy.  They don’t have a website, but the tax returns of 501(c)(3) organizations are public, and it was easy to find it through the National Center for Charitable Statistics.

The Donald E. Garrant Foundation of Wakefield, MA

In 2007, the Donald E. Garrant Foundation funded:

• $3,608 to the Galvin Middle School for a school program on financial literacy
• $1,000 to the Foundation for the Advancement of Malden Education to purchase supplies
• $622 to the Wakefield High School to purchase Intuit software
• $766 to the Action for Boston Community Development to purchase financial literacy materials
• $5,860 to the Wilmington High School to purchase supplies for library books

None of the six officers of corporation received any compensation for their work.  The foundation’s only other expense was $1,250 in accounting fees.  Their total disbursements were $13,141 which is 6% of the funds’ total assets of $218,065.

Read the rest of this entry »

Tags: financial literacy, private foundations, teaching kids about money, The Donald E. Garrant Foundation

The full extent of the damage to Haiti won’t be known for weeks, perhaps months, but there is no doubt that help is needed now.  Many people, my family included, want to make a donation.  Our first stop is the Charity Navigator website, which maintains a list of charities supporting the Haitian relief effort.  Charity Navigator rates the major charitable organizations on their efficiency, that is, how much of your donated dollar will be used to actually help people instead of going to fundraising or executive pay.

I was surprised that the American Red Cross only garnered three stars until I saw that the CEO is paid over $500,000/year.  Doctors without Borders rates the full four stars and pays its CEO only $115,000/year.   The good Doctors will get my money.

Here is the list of four star charities, as rated by Charity Navigator, helping in Haiti, starting with five organizations based in Haiti:

• Haitian Health Foundation
• Hands Together
• Hope for Haiti
• Hope for Haiti Children’s Center
• Love A Child, Inc.

• Action Against Hunger-USA
• ActionAid International USA
• ADRA
• American Jewish World Service
• AmeriCares
• Beyond Borders
• CARE
• CHF International
• Childcare Worldwide
• Convoy of Hope
• Direct Relief International
• Doctors Without Borders, USA
• Feed My Starving Children
• FINCA International
• Food For The Poor
• International Orthodox Christian Charities
• International Relief Teams
• Islamic Relief USA
• MADRE
• Medical Benevolence Foundation
• Operation Blessing International
• Operation USA
• Oxfam America
• Partners In Health
• Samaritan’s Purse
• Save the Children
• United Methodist Committee on Relief
• United States Fund for UNICEF
• Water Missions International
• World Hope International
• World Vision

Disclaimer: I have no personal affiliation with any of the charities listed above.  I do not receive any compensation for including them in this list, nor do I receive any compensation if you choose to donate, other than a warm sense of purpose.

Carnivals: This post was included in this week’s Carnival of Personal Finance hosted at Million Dollar Journey.

Tags: charity, donations, Haiti, Haitian relief

If you’re like me, you do most of your charitable donations at the end of the year.  That’s when I review my financial results for the year and decide how much to donate and which causes to support.

One of my favorite charities is Pennies for Peace.

It was founded by Greg Mortenson who was nursed back to health by Pakistani villagers after a mountain climbing accident.  He promised to return to properly thank them.  He returned a year later and built a school.  He then went on to build dozens of schools for boys and girls in rural Afghanistan and Pakistan.  His fascinating story is detailed in his book, Three Cups of Tea.  I hope this man one day receives the Nobel Peace Prize.

My six-year old son learned about Pennies for Peace through his Montessori kindergarten.  After the official school program ended, he wanted to continue collecting his coins for the cause.  He liked the idea that every penny collected would buy a pencil for a child.  For his birthday party this year, instead of presents, we asked that the children bring their pennies.  We received buckets of pennies.  We added to the pile throughout the year.  At the end of year, we counted and wrapped them. Read the rest of this entry »

Tags: Greg Mortenson, Pennies for Peace, teaching children charity

Like most of the nation, my family will gather this week with our extended clan to share a meal and a laugh or two.  Thanksgiving is also a time to take a moment to consider those who are not so fortunate.

If you turn those good thoughts into good deeds, your charity might be eligible as a tax deduction.  Uncle Sam put together a useful guide on Year-End Donations.

Cash and Stock

If you give money to your favorite charities, you can usually deduct the amount donated on Schedule A (Itemized Deductions) of your 1040.  There are some limits.  See IRS Pub 526, Charitable Donations, if you have questions.

If you have stocks (equities) that have appreciated in value, donating them instead of cash can mean a bigger tax deduction for you.  See my post earlier this year on this subject. Read the rest of this entry »

Tags: charitable deductions, charity