September 14, 2017

“Charitable” Giving After Harvey

Crowd Funding - Arrows Hit in Red Mark Target.

Hurricane Harvey.  A name that will be remembered by so many in Southeast Texas for years to come.  Upon making landfall as a Category 4 hurricane, it tore apart the city of Rockport, Texas.  It was a slow moving storm, so there it sat, for days, bringing torrential rains to the Houston area, some areas picking up over 40 inches of rain.  While the devastation was widespread, people opened their hearts to help neighbors and strangers.

No doubt, many of you have helped someone in need, whether it be monetary or in-kind donations or volunteering of your time.  Please be aware that there are some organizations to which you are giving, may not be tax deductible.  Certainly, donations to organizations such as the American Red Cross, Greater Houston Community Foundation, and others, are tax deductible.  There are also fundraising sites, such as GoFundMe and You Caring, which are not tax deductible.

In order to take a charitable deduction, the organization must be qualified to receive deductible contributions – organizations formed with the sole intent to provide charitable, religious, scientific, literary, or educational purposes; or, for the prevention of cruelty to animals or children.  Examples of qualified organizations include, but are not limited to – churches, hospitals, police departments, nonprofit volunteer fire departments, Boy/Girl Scouts, and others.  An organization’s website will clearly state whether your donation is tax deductible, so I recommend you research that information before making your donation.

If you have any questions regarding your charitable giving, please do not hesitate to contact us.