Higher Markets Boost Value of Last Minute 2009 Contributions
Public Company Information:
SAN FRANCISCO--(BUSINESS WIRE)--For Americans who’ve waited for higher stock prices before making donations of securities to their favorite charities, there are a number of ways to make charitable contributions and still beat year-end tax deadlines, according to Schwab Charitable.
Recent data indicates that charitable giving remains a high priority in most American households and has weathered the recession far better than other discretionary expenditures, including the purchase of appliances, furniture, vehicles, and apparel. Charitable giving could benefit from the substantial recovery in stock prices over the last 12 months, including very large gains in widely-held issues like Amazon.com, Apple, Google, and IBM over the past year.
“Charitable giving is relatively resilient during recessions and may bounce back a little more quickly than other spending because of the improvement in the stock market,” says Kim Wright-Violich president of Schwab Charitable. “Americans who’ve chosen to wait until the last minute this year may actually benefit from procrastination.”
For donors looking to make last-minute donations, the key is to find ways to simplify the giving season. While individual tax circumstances may vary and donors should consult with their advisors, Ms. Wright-Violich offers these tips for consideration:
"Americans are among the most generous people in the world, even in difficult economic times," said Ms. Wright-Violich. "There’s still time this year to make a meaningful difference in a way that makes sense for a family’s finances."
About Schwab Charitable
Schwab Charitable is the country’s 10th largest charity and fastest growing national donor-advised fund organization with over 12,000 donors and more than $2 billion in assets. Created with a mission to increase charitable giving nationwide, Schwab Charitable has raised over $3.8 billion and has facilitated more than $1.6 billion grants to over 33,000 charities since inception. For more information about Schwab Charitable, visit schwabcharitable.org.
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