Many non profit organizations in this country reach out to citizens asking for financial contributions to aid their causes. And contributors have the opportunity to write off these contributions on their federal income tax returns. But some people have limited financial resources. However, in many cases, they have the free time and the desire to help out their favorite charities. Retirees are a good example of this. Why not come up with a formula to value a "time commitment" to a charity? The I.R.S. sets an amount per mile for automobile travel expenses. Set a rate for deductible hours of work for a charity. Financial contributions are obviously an important component of a successful charitable endeavor. But manpower is obviously important as well in carrying out the goals of these organizations !
Posted on: Sun, 22 Sep 2013 00:18:21 +0000
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