REVERSE MORTGAGES

11/17/2008

Fort Worth, TX – Charitable organizations face a mix of declining government funding, rising costs, and greater demands for their services in a weakening economy. More than 80% of the money raised by charities in this country comes from individuals, so it is important to donate wisely.

Appeals for charitable support come in a variety of forms and should be investigated before any contribution is made. You may be asked to purchase tickets for special fund-raising events run by outside promoters who may receive most of the proceeds. Ask what percentage of your contribution goes directly to work of the charity.

Or you may encounter telephone or in-person appeals. Require the person calling to furnish you with adequate information about the organization, and don't let the immediacy of the situation pressure you into making a contribution. Be suspicious of solicitors who are unable or unwilling to answer reasonable questions about the organization's operations.

Mail appeals are another common form of solicitation; be wary of appeals that are long on details about the problem but short on what the soliciting charity is doing to solve it. Be particularly careful about giving out credit card numbers to charitable solicitors.

The deductibility of donations may be an important consideration in making charitable contributions. The fact that an organization has a tax-exempt status does not constitute IRS "approval" of the charity's operations nor does it automatically mean that your contribution is fully tax deductible.

Contributions should always be made by check and to the organization, not to an individual. Keep detailed records of your contributions for tax purposes. The Council of Better Business Bureaus has set up voluntary "standards" by which to evaluate charitable solicitations. Contact the BBB for information on how specific charities meet these standards or consult www.give.org. You can also look for the BBB’s “Charity Seal” on the solicitation materials, advertising, and websites of the soliciting charities.