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Monday, June 14, 2010

Individuals Donate Billions In Noncash Gifts

A day doesn’t go by without us receiving a call or email from a potential donor looking to find a charity willing to take his/her noncash gift. From cars, to household items, to medical supplies, to food, to horses – you name it we’ve had a donor asked how they can give it away to a worthy group. And a new report from the IRS confirms what we’ve experienced – American’s like to donate noncash items.
According to the IRS Statistics of Income Bulletin for Spring 2010, nearly 24 million taxpayers (who itemized deductions) took $58.7 billion in deductions for noncash donations in 2007. The number of taxpayers using Form 8283 (required for donations that exceed $500) increased more than 12% from 2006 to 2007. Also, the amount claimed via 8283 increased almost 13% from ’06 to ’07.
What types of things do donors like to give away?

What types of nonprofits are more likely to receive such gifts?

In the not too distant future, we hope to expand our search tool so you can quickly find charities interested in your noncash gifts. In the meantime, we recommend that you use our site as a tool to find a well-run charity in your region. Then, contact that charity directly, using the information we provide, to determine if the organization is interested in receiving your goods. And visit the Tips and Resources portion of our site to learn if your donated good qualifies as tax-deductible.

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blessedways said...

I know that we don't qualify as a charity but we are a church fundraiser who utilizes this concept exactly. We are blessedways.com and will launch our web site at the North American Christian conference in Indianapolis on July 6th. 2010.

Unknown said...

If you have a vehicle that is not in use, consider donating it to a worthy cause. There are online charities that will help you donate a car and further a life at the same time.These Car donation charity can helpful to the needy people.
Car Donation

Best Products Hunter said...

Really an inspiring post. Thinking about it.