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Make a direct gift to an established charity. Direct gifts provide immediate financial support to religious congregations or denominations, educational institutions, or other nonprofit organizations working in such areas as health care, education, the environment, and human services. It usually is easy to find a charity that provides programs and services that reflect values similar to your own—you probably know of some already. You will want to make sure that the organization you give to has tax-exempt status from the Internal Revenue Service, so that you may claim the appropriate federal tax deduction for your gift. The tax deduction for gifts of cash to charity can be up to 50 percent of your adjusted gross income for the year. It also is possible to give gifts of property, including real estate, mutual funds, stocks, and other securities to your chosen charity or charities. These gifts entail different deductions for tax purposes. Federated Funds, like the United Way, Community Health Charities, and others, participate in annual workplace giving campaigns that raise millions of dollars for distribution to local, state, and national nonprofit organizations. Check with your employer for details. A list of the major federated funds operating in the state is available from the Connecticut Council for Philanthropy. If you have questions about the reliability of a particular national nonprofit, Guidestar (www.guidestar.org; a tutorial for understanding IRS Form 990 is also available) or the Better Business Bureau’s Wise Giving Alliance (www.give.org or 703-276-0100) are sources of information on nonprofit organizations. For local charitable organizations, we suggest you consult with your local community foundation or United Way, or contact the Connecticut Association of Nonprofits (www.ctnonprofits.org). They are familiar with the nonprofit activities in your area and can suggest specific organizations that match your particular interests.
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