"It's what we value, not what we have, that makes us rich".

J. Harold Smith

Dear Friend,

With the April 15th tax filing deadline just ahead, it is time to take a look at the possible charitable tax deductions you are entitled for 2007 including the following: $.14 per mile for driving your card to benefit a non-profit; fund-raising expenses such as hosting a party, stamps, a cake for a bake sale; donated goods at their fair market value. (All donated goods valued at more than $500 require the tax form 8283).
 
Remember, all money donations must be documented by a receipt from the charity, and all car donations are subject to new special rules.
 
For more information, I'd like to refer you to IRS Publication 526, Charitable Contributions.  Bottom Line Retirement, March 2008, p3
 
Sincerely,
Douglas M. Lawson, Ph.D.

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Did you know?

 
FOUNDATIONS WORKING TO HELP FORECLOSURE CRISIS
Living Cities, a consortium of major foundations dedicated to reviving inner cities, is considering funding various programs to keep borrowers in their homes. The Ford Foundation with $12.8 billion in assets is also considering programs to help home owners in foreclosure. Living Cities hopes to raise $4 million from the group's members as well as $10 million or more in flexible longer term loans. We commend these philanthropic efforts to deal with this ever widening crisis.
Wall Street Journal, February 18, 2008, p. B1
 
HUMANE SOCIETY SUES THE DEPARTMENT OF AGRICULTURE
The Humane Society of the United States (a major non-proft organization) is suing the Agriculture Department for creating a "loophole" that allows potentially sick cows into the food supply. This follows the Society's videotape of workers making cattle stand to pass inspection who were unable to walk at the Chino, California Westlake/Hallmark meat Company, which provoked the largest beef recall in history - 143 million pounds.
The New York Times, February 28, 2008, p. C1
 
LARGEST GIFT TO ANY NEW YORK PUBLIC UNIVERSITY
James and Marilyn Simons have donated through their Simons Foundation $60 million to Stony Brook University. This is the largest gift ever to a public university in the state of New York. The gift will finance a center for geometry and physics. Mr. Simmons, a mathematician turned investor with his Renaissance Technologies in 1982, was ranked by Forbes magazine in 2006 as the 57th richest person in the world - with a net worth of $5.5 billion. We commend the Simons family for following in the philanthropic footsteps of Bill Gates and Warren Buffett.
The New York Times, February 28, 2008, p. B4
 
KENNEDY ASSASSINATION DOCUMENTS FOUND
Fifteen boxes of materials related to the assassination of President John F. Kennedy have been found in Dallas. The Sixth Floor Museum at Dealey Plaza wants the documents to be donated to the Museum, which is one of the most heavily visited historic sites in Texas (other than the Alamo) with over 325,000 visitors each year. Lawson Associates is proud to have been the fundraising firm used by the Museum as it was being formed. It is our hope that the documents are finally donated to the Museum in Dallas.
The Dallas Morning News, March 1, 2008, p. A1
 
OPRAH PLAYS A NEW PHILANTHROPIC ROLE
Already one of America's leading philanthropists, Oprah Winfrey has a new network reality show, "Oprah's Big Give", which is a "fierce competition between people who are dedicated to doing good". In the league with other network shows dedicated to philanthropy such as ABC's Extreme Makeover: Home Edition, Oprah's show has class and hopefully will inspire others to follow in her philanthropic footsteps.
The New York Times, March 1, 2008, p. A16
 
A COSTA RICAN $10 MILLION WALK FOR PRESERVATION
A group of "green" pioneers including Walter Robb, co-president of Whole Foods; Anthony Zolezzi of Pet Promise; and Bryan Meehan of Fresh & Wild Stores; have completed a hike through a pristine rain forest in Costa Rica which was part of an attempt to raise $10 million to expand a preserved forest in the northwest part of the country. They did raise $190,000 by means of the hike and they intend to raise more through a May fund-raiser in Hollywood and through sales of a new children's book, The Forever Forest: Kids Save a Tropical Treasure.
The New York Times, March 1, 2008, p. B1
 
CAN MALARIA BE ERADICATED?
 Bill and Melinda Gates, with the philanthropic muscle of their foundation, have invested $1.2 billon. President Bush has endorsed what the Gates Foundation is trying to do. However, skeptics at the World Health Organization are not only saying that the Gates program is doomed to failure, but that it could do harm. We will stay out of this debate, but I hope we all remember that many skeptics said we would never make it to the moon.
The New York Times, March 4, 2008, p. D1
 
CROCHETING TO SAVE THE GREAT BARRIER REEF
The world's largest national reef is in ecological trouble. But crochet enthusiasts are to the rescue through the Hyperbolic Crochet Coral Reef, which is already 3,000 square feet in size as contrasted to the Great Barrier Reef, which covers 135,000 square miles. Two twins, Margaret and Christine Wertheims of Queensland, Australia, started the "woolly homage to the reef" over two and a half years ago. It is coming to New York in April where the Harlem Knitting Circle and the New York City Crochet Guild will join with others in growing the hyperbolic form. As a reminder of the AIDS Quilt, this project already has legs.
The New York Times, March 4, 2008, p. B1
 
STARBUCKS FRIENDS AND A KIDNEY TRANSPLANT
You give your time, talent and treasure, but would you give your kidney? For years, in Tacoma, Washington Annamarie Ausnes has had her morning coffee at Starbucks with Sandie Andersen (a friendly employee) as her server. Everyday they have joined their lives in conversation about any and everything, but last November the conversation turned to Annamarie's need for a kidney transplant. Annamarie told Sandie she was Blood Type O. Sandie said she was going to get tested and she discovered she was Blood Type O and the other DNA markers and cross-match requirements looked good. Over tears at the Starbucks counter, she told Annamarie she would be her donor. This will take place in a few weeks. Sandie's view of her gift is worth remembering: "People should give freely of themselves, and they do more often than is noticed".
The New York Times, March 4, 2008, p. A16
 
TOP EXECUTIVES OFTEN GIVE STOCK WHEN SHARES ARE HIGH
A new academic study by David L. Yermack, a professor of finance at the Stern School of Business at New York University, documents that top corporate executives often make large gifts of their company's stock to their family foundations shortly before the stock price drops sharply. This gives the corporate executive the maximum personal income tax benefit. The study surveyed 151 gifts of at least $1 million worth of stock between mid 2003 and the end of 2005 representing $728 million in total. Jack Siegel, a tax lawyer, has observed that "It's a classic case of people looking at the legal environment and saying, "Here's an opportunity". This is a practice we must watch.
The Wall Street Journal, March 5, 2008, p. C1
The New York Times, March 5, 2008, p. A10
 
SURVEY SAYS CHARITIES SPEND TOO MUCH ON OVERHEAD
A recent survey of 1,007 adults in 50 states concluded that sixty-two percent of Americans feel that charities spend too much on overhead, which includes administration and fund-raising. This is a big problem for fundraisers, especially for charities that spend very little on overhead expenses. This survey came at a time when congress is debating a requirement that non-profits disclose their overhead costs. Well-run charities often spend between 30-40% on overhead costs. Is this too much? The debate goes on.
The Chronicle of Philanthropy, March 6, 2008, p. 29
 
FACEBOOK USES ITS NETWORK FOR BLOOD DONATIONS
Working with a New York non-profit, Takes All Types Facebook is using its network to better coordinate where and when people donate blood, particularly in times of shortages or crises. The sixty-five million active users of Facebook are being asked a new question: What is your blood type? This is a splendid new use of Facebook, which goes far beyond that which has been to date rather academic or frivolous.
The New York Times, March 10, 2008, p. C2
 
SKATEBOARD KING BECOMES A PHILANTHROPIST
As Tony Hawk hits middle-age, he is taking the money he has made and putting it into the Tony Hawk Foundation, which has already given two million to non-profits to help build 400 skate parks in poor neighborhoods throughout America. He also makes appearances to publicize the new skate parks and he performs at many of their fund-raisers. What a legacy for a smart businessman and world class skater. You can hear Tony on Sirius Satellite Radio on Tuesdays at 7:00pm ET.
USA Today, March 10, 2008, p. 1A
 
ONE LAPTOP PER CHILD SEEKS CEO
Nicholas Negroponte, founder of One Laptop Per Child, is stepping down as CEO. Criticizing himself as a CEO, Negroponte says "Management, administration and details are my weaknesses". He is looking for a CEO with these skills who will "view the world as a mission, not a market". We wish him luck in finding such a person to really get this great idea going throughout the world.
Businessweek, March 17, 2008, p. 64
 
BILLIONAIRE HELPS INDIA PREPARE FOR OLYMPICS 
Lakshmi Mittal, a steel magnate billionaire has commited $10 million dollars -so far- to the Mittal Champions Trust, a non-profit group promoting sporting excellence in India (his native country). In 2004 India, the second largest nation in the world by population, took home only one Olympic medal, while China won thirty-two. The Mittal Champions Trust is supporting at least 10 athletes who will compete in Beijing. The one athlete with the most potential for a gold medal is an archer, Mangal Singh Champia, who is from one of India's poorest states. We wish him and the other Indian athletes the best of luck as we thank Mr. Mittal for his generosity.
The Wall Street Journal, March 7, 2008, p. A1
 
SOCIAL JUSTICE PHILANTHROPY AMONG THE YOUNG
Young people inheriting fortunes today are increasingly prone to give most of it away, primarily to social justice causes. Examples of this positive attitude toward philanthropy are numerous. Anne Glockman inherited several million dollars on her eighteenth birthday. At 34, she has already given away $1.2 million. Tyrone Bouches, twenty-five, who desires to donate his six figure trust fund to groups working for racial equality, asks a simple question, "What's enough"? That is a question we all need to ask at any age.
The New York Times, March 9, 2008, p. 11
 
GIVING IT AWAY MAGAZINE
On Sunday, March 9th, The New York Times Magazine became the "Giving It Away" Magazine. There are many excellent articles, but we particularly call your attention to the following: "What Makes People Give?" by David Leonhardt; "The Giving Age" by Charles Wilson; "Self-Made Philanthropists" by Joe Nocera; and "For Good, Measure" by Jon Gertner. We congratulate the Times for this excellent issue. We hope more of this philanthropic journalism will be forthcoming from the "Old Lady".
The New York Times Magazine, March 9, 2008
 
MOM AS A PHILANTHROPIST FOR SON
Ten years ago, Matthew Shepard, (who was gay) was brutally murdered. His mother, Judy Shepard and her husband, Dennis, immediately went to work to try to right this wrong. They established the Matthew Shepard Foundation, which has as its mission the stopping of hate crimes. The foundation, with an annual budget of $750,000, has educational and advocacy prgrams dedicated to replacing "hate with acceptance". We admire the Shepard family and sincerely hope that more moms and dads will join with them in this important endeavor.
USA Today, March 11, 2008, p. 7D
 
AFTER LOSING BILLIONS, HE GIVES MILLIONS
After personally losing $3.9 billion, Stephen A. Schwarzman is giving $100 million to the New York Public Library's "Billion Dollar" Campaign. This gift, which is among the largest ever given to a New York cultural institution, will transform the Library into a world class destination for book borrowing as well as research. The library, will as a result of this gift, be named for Mr. Schwarzman. Twenty $100 million gifts were given in 2007, we hope there will be even more in 2008.
The New York Times, March 11, 2008, p. 1


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New Client
 
Soli Deo Gloria of West Chicago, Illinois, is dedicated to preserving, promoting and enhancing the classical sacred music repertoire in the Biblical tradition. 


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