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I want to set up a fund for the children of a friend who passed away

A very close and dear friend of mine passed away a few days ago at a very young age and left behind a wife and 2 very young children ages 3 and 1. I would like to set up an investment fund for his children in his memory which people can donate to and will accrue interest until they are ready for college. To increase the chances people will donate I want it to be possible to use paypal or google wallet. I know nothing about finance or laws or any of the things that I imagine come with setting this up. Can anyone advise? Thanks in advance
posted by postergeist on Nov 12, 2013 - 5 answers

Estimating the value of charitable donations

What rules do you use for estimating the value of things you give to charity? The organizations we donate to ask us to estimate the value for tax purposes ourselves, rather than doing it for us. I know we obviously should not use the full price that we paid for the item. I am wondering if it is okay to value items at, for example, what we might get for them off Craigslist (sometimes say 1/3 to 1/2 or in rare cases even 2/3 what we paid, depending on the item and condition), or whether we should be valuing at more like what I'd use for a yard sale price of like 1/10th or lower. Does it matter? And is there a corresponding tax consequence for the recipient organization, such that if I declare the higher value on our taxes that organization realizes some proportionate tax or penalty? If so I should probably just estimate lower in order to further benefit the charity. Thanks!
posted by onlyconnect on Oct 8, 2013 - 13 answers

Help me figure out how much I owe the taxman

Bought a lot at the school charity auction. How do I figure how much to deduct on my taxes? [more inside]
posted by dudeman on Apr 5, 2012 - 6 answers

Best practices for planned charitable giving

How can I be more consistent and organized with respect to my charitable donations? [more inside]
posted by Saucy Intruder on Mar 30, 2012 - 18 answers

Who gets the charitable deduction credit?

When an author, political figure or other speaker donates their speaking or appearance fee to charity, do they garner any tax benefits? Does this donation show up as a charitable tax deduction on their tax form? Does it show up as a charitable donation on the sponsoring organization's tax form? [more inside]
posted by 2bucksplus on Sep 20, 2011 - 7 answers

Requested charitable gifts we don't agree with.

Bride and groom are requesting charitable donations in lieu of wedding gifts. We like the couple, but aren't on board the charities they've chosen. [more inside]
posted by anonymous on Sep 3, 2011 - 40 answers

Know any charitably minded organisations that became commercially successful?

Examples of organisations that begin with charitable motives that evolved into successful commercial enterprises? [more inside]
posted by zaebiz on Aug 7, 2011 - 16 answers

Need adopt-a-penguin recommendations. Yes, that's what I said.

Recommendations wanted for "adopt a penguin" gift donations. This penguin research organization came up, but can't find any info if it's legit or not. Links to other recommended/donation-worthy animal "adoption"/charitable gift sites welcome too. [more inside]
posted by NikitaNikita on Dec 21, 2008 - 6 answers

Charitable donation democracy?

My girlfriend wants to auction off her 3' dreadlocks for charity. Is there a website that will track donation pledges as votes for or against the chop? Sort of like PledgeBank but with the feature of multiple competing pledges? [more inside]
posted by anthill on Mar 14, 2007 - 10 answers

Feminist organizations in need of monetary support?

What can you tell me about organizations that support women's rights? I would like to donate some money. [more inside]
posted by exceptinsects on Feb 28, 2007 - 17 answers

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