On
behalf of the Board of Directors and Staff of New Directions,
let us express our good wishes for the holiday season to
you. This year has seen great progress within our organization,
not withstanding the strain of providing funding for the
men and women we seek to support during their journey to
healthy and useful lives. Our balance sheet is healthy,
our management team is strong and expert in their fields
and the staff is committed to working towards the mission
of New Directions. As New Directions continues to grow and
thrive we salute you all for your accomplishments this year!
CASH
GIFTS TO NEW DIRECTIONS MADE BETWEEN
AUGUST
28 & DECEMBER 31, 2005
QUALIFY
YOU FOR SPECIAL TAX BENEFITS UNDER NEW LAW
In
September, new federal legislation was adopted, which allows
for temporary tax benefits to any taxpayer who makes a contribution
to a public charity, such as New Directions. Contributions
have to be made between the dates of August 28 and December
31, 2005. This one-time tax benefit significantly increases
the limit on cash contributions you make to New Directions
from 50% to 100% of your Adjusted Gross Income (AGI) for the
balance of 2005.
For
example, on December 31, 2005, you donate $2,500 to New Directions.
According to the new legislation, you will be able to take
this cash contribution, as well as other contributions donated
to 501(c) (3) organizations within the allowable dates, as
a charitable tax deduction up to the full amount
(or 100% of your Adjusted Gross Income). Gifts made between
January 1, 2005 and August 27, 2005 are still subject to the
50% limitation.
Under
this new law, gifts to New Direction qualify you to receive
this benefit. If you have any questions about your donations,
you should contact your tax advisor or other financial professional
or contact Murray Wood, Director of Development at 310.914.4045,
ext. 112
