The Community Foundation of Anne Arundel County is launching its inaugural 24 hour on-line fundraising event called “The Great Give”. It begins at 7:00 p.m. on May 7th and ends at 7:00 p.m. on May 8th. Everyone is encouraged to participate.
The purpose of The Great Give is to raise awareness of local charities, their missions and their needs, to raise funds for local charities, and to inspire and strengthen philanthropy in our community.
How can you participate in The Great Give? First, check out the website for the Community Foundation of Anne Arundel County http://www.cfaac.org/ which provides information on how to participate. To stay informed, you can sign up for regular updates of the fundraising results. Secondly, you want to find a way that you can support your favorite charity. Here are a few suggestions:
- You may give cash outright. This is the easiest and most common method. Many charities have websites that allow you to donate online. You will also want to note that donations to charities may be tax deductible.
- You can name a charity as a beneficiary in your Last Will and Testament, or in your Revocable Living Trust.
- You can name the charity the beneficiary of an IRA, annuity, or other tax deferred account. The entire amount in the account can be passed to the charity without the payment of deferred income taxes. This permits the charity to get the entire amount of the IRA.
- You can give appreciated property to a charity, such as low basis stock.
- There are many different types of trusts you can set up to benefit your favorite charity such as Charitable Remainder Trusts, Charitable Lead Trusts and Charitable Gift Annuities. You may want to discuss whether a charitable trust is right for you with your estate planning attorney and trusted financial advisors.
- You can also give your time and expertise to benefit your favorite charity.
Please consider how you can benefit your local community by contributing to your favorite charity. Participating in The Great Give’s exciting, inaugural event is a good place to begin.
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