Charitable contributions are a great way to make a positive impact on the world around you, support a cause that matters to you, and also potentially earn tax deductions for yourself. What many people don't realize, however, is that there's more than one way to give. Non-cash donations can often be just as valuable to recipient organizations as cash, and may even come with additional benefits for donors.
What Are Non-Cash Donations?
There are a variety of different types of charitable contributions. These include:
- Depending on the organization, anything from household goods to clothing to cars may be useful and appreciated. Be sure to check with the organization you have in mind to see what types of goods they prefer to receive.
- Real Estate.
- Donor-Advised Funds.
- Financial Securities (such as stocks, bonds, or options).
- Planned Giving Options (such as charitable life insurance).
- Volunteering (specifically, expenses incurred while volunteering are tax-deductible).
The Benefits of Charitable Contributions
Keep in mind that in order for a donation to be tax-deductible, it must be made to a qualifying tax-exempt organization (such as a 501(c)(3)). Depending on the type and amount of the donation, you might also need to submit additional tax forms.
With some types of donations, making a non-cash donation might actually end up maximizing your deduction. Donating appreciated non-cash assets that have been held for more than a year, for example, allow you to avoid the capital gains tax that you would normally pay on those assets. This both maximizes your charitable contribution while also reducing your tax burden.
Particularly for large or non-cash donations, be sure to talk with a financial advisor and the intended recipient organization ahead of time.
Spectrum Community Services is committed to improving the quality of life for low-income families, seniors, and individuals in Alameda County. Through financial assistance and other services, our goal is to support community members in building healthy, safe, and independent lives. Contact us to learn more about our services, or consider making a donation to support our work. We can't wait to work with you!
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Income inequality in the United States has become a hot-button topic in recent years. When considered together with the high cost of living in California, which ranks among the most expensive states in the nation, income inequality can have a huge impact on peoples' lives and well-being.
What Is Income Inequality?
Income inequality is defined as the unequal distribution of wealth across different groups of people. In recent history, income inequality in the United States has been largely characterized by differential increases in income. The nation's wealthiest individuals have seen a marked jump in income, whereas those earning the least have seen much smaller (if any) growth in wages.
Who Suffers From Income Inequality?
Income disparities tend to affect those who earn the least. Often (though not always) that includes groups that are more likely to experience poverty, such as Black and Hispanic/Latino individuals and those who suffer from intergenerational poverty. Older adults are also among those who have seen a growth in income inequality of late. This is particularly the case for seniors who live on fixed income, which is notoriously slow to keep up with inflation and rising costs of living.
What Are the Consequences of Income Inequality?
Income inequality often has major consequences on the lives of those at the lower end of the wealth gap. According to the Public Policy Institute of California, "California's income distribution reflects high rates of poverty. Income is frequently not enough to meet basic needs." People in this position are at greater risk of housing instability and chronic health problems.
And it's not just the people who make less money that suffer. Income inequality and unemployment have also been linked to higher crime rates. Further, homelessness creates a drain on public health and support systems, a burden which other taxpayers are usually forced to shoulder.
Spectrum Community Services is committed to improving the quality of life for low-income families, seniors, and individuals in Alameda County. Through financial assistance and other services, our goal is to support community members in building healthy, safe, and independent lives. Contact us to learn more about our services, or consider making a donation to support our work. We can't wait to work with you!
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Since 2008, Subaru of America and its retailers have helped enable the delivery of nearly 4 million meals and friendly visits to seniors in need. The #ShareTheLove Event is back to help deliver meals and support to America’s seniors! For every new vehicle bought or leased between November 17 and January 3, Subaru of America and Subaru retailers will donate $250 to #MealsOnWheels America.
“Causes like Meals on Wheels rely on corporate partners to keep our wheels turning,” said Ellie Hollander, President and CEO, Meals on Wheels America. “That’s why we are beyond grateful to Subaru of America and their retailers for their astonishing 15 years of partnership and nearly 4 million meals and friendly visits delivered to our aging neighbors.”
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The holidays are a time for gratitude, reflection, and giving. That's true not just for our immediate families, but also for the wider community around us. This holiday season (or even after the holidays have passed!) consider giving back to your community through charitable giving.
Donating to a cause or organization you believe in is a great way to make a positive change—and, as it turns out, being selfless can actually have some pretty great benefits. For example:
- Giving Has a Ripple Effect. We tend to underestimate the effect that small good deeds can have. When you make charitable donations to a local nonprofit or charity, you're not just helping that organization—you're also helping all of the people who rely on that organization's services, and all of the people who rely on those people. For example, donations to Spectrum mean meals for seniors in the area. It also means reduced water bills for low-income families, which in turn allow those individuals to set aside money for things like their children's educations.
- Giving Makes You Feel Better. Some scientific research suggests that charitable giving unlocks neurotransmitters like serotonin, dopamine, and oxytocin, all of which are associated with improved mood and feelings of connection. Translation: giving can make you happier, on a biological level.
On top of that, there's also evidence that giving may have significant benefits for your physical health, including lower blood pressure, lower stress, and even living longer. - Giving Creates Positive Change Where You Live. When giving to local nonprofits, you're investing in your community. Whether that's reducing income inequality, improving public health, or creating a greener world, those changes will ultimately benefit you, too.
You don't necessarily need to donate money to reap the benefits of giving back. If funds are tight this year, consider other ways to support your community. Volunteering your time and donating gently used goods or in-kind gifts are great ways to have a positive impact without having to stress about finances.
Spectrum Community Services is committed to improving the quality of life for low-income families, seniors, and individuals in Alameda County. Through financial assistance and other services, our goal is to support community members in building healthy, safe, and independent lives. Contact us to learn more about our services, or consider making a donation to support our work. We can't wait to work with you!
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Almost everyone can relate to the sickening feeling of opening a bill and seeing a number that is significantly (or even astronomically) higher than you expected.
Sometimes high water bills are simply a consequence of higher-than-average usage. Other times, however, they can be a sign that something is wrong. If you find yourself confronted by an unusually high water bill, it may be a good idea to check to see if any of the following issues are present.
What Causes High Water Bills?
Your water usage can be affected by a number of factors outside of your actual water consumption. These include:
- Leaks are the first thing you'll want to check for when investigating the reason for a high water bill. According to the Environmental Protection Agency (EPA), household leaks can account for almost a trillion gallons of water wasted each year. When checking for leaks, be sure to look for all potential sources, including toilets, showerheads, sprinkler systems, water heaters, filters, and pipes. Don't forget to check for dripping faucets and pipes, including the connectors between your building and the water main.
- A Malfunctioning Toilet. If your toilet's flush mechanism isn't working properly, it can lead to the water in your toilet continually running. This can be caused by a few different problems, the most common being a leaky flapper or a float that is too high.
- A Broken Water Softener. If you live someplace with hard water (which is the case for many parts of California) be sure to check on your water softener. Water softeners are programmed to periodically regenerate or flush themselves of the minerals they accumulate. Sometimes, however, water softeners get stuck in this regeneration cycle, and if that's the case they can waste a lot of water.
If you've been blindsided by a higher-than-normal water bill, we may be able to help. Call today to see if you're eligible for one-time per program year assistance to pay your overdue water bill, part of the federally-funded Low Income Household Water Assistance Program (LIHWAP).
Spectrum Community Services is committed to improving the quality of life for low-income families, seniors, and individuals in Alameda County. Through financial assistance and other services, our goal is to support community members in building healthy, safe, and independent lives. Contact us to learn more about our services, or consider making a donation to support our work. We can't wait to work with you!
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