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cfp-ma.org: EDITORIAL: A TIME FOR GENEROSITY -- Catalogue for Philanthropy: MASSACHUSETTS
MASSACHUSETTS
EDITORIAL: A TIME FOR GENEROSITY 
 

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Milwaukee Journal Sentinel
Posted: Dec. 13, 2005

An end-of-the-year ritual in many households involves charitable giving. For many, it simply fits with the season: helping those whose plights seem particularly sad during the holidays. For others, there is a tax implication. Giving to charity before one year turns into another provides some handy tax deductions for April 15.

Whatever the reason, there certainly is merit in giving. Locally, nationally, internationally - the needs are great in a year that began with the devastation of a tsunami, was blown to bits by a record hurricane season and reminded us that this community is poorer than many.

And now comes the news that Wisconsin is not as generous as other states when it comes to charitable giving. Our state ranks 46th on a "generosity index" compiled each year by the Catalogue for Philanthropy that measures the percentage of income given to charity. Rather than just call us cheap, its president generously said this means we have "a greater opportunity" to increase giving.

Well, Wisconsin residents do have a reputation for being tight with a penny. So a special new provision that allows even more of a deduction on tax returns for donations to charity should be particularly appealing. In the wake of Hurricane Katrina, Congress passed the Katrina Emergency Tax Relief Act, a one-time measure that allows a 100% deduction - rather than the usual 50% limit - on gifts made to public charities before the end of this year. And that's for any public charity, not just Katrina relief (which is still, by the way, a good cause).

So make a list of your favorite charities, and check it twice.

And give.

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