It feels good to give. Charity foundations benefit from the generosity of the American public with as much as $358.38 billion having been given to charity organizations in 2014. The holidays are a good time for charities with just on 43% of respondents to a recent survey saying they donate and give more during the holiday season than the rest of the year, while almost $45 give about the same.
It is not only cold hard cash that charity foundations benefit from. Clothing donations can make a significant difference to charities and many offer donation pick up. We throw away as much as 70 pounds of clothes, textiles and linens annually, items that could be offered as used clothing donations. Conversely, Americans kept 2.5 billion pounds of fabric from the landfills in 2006 through used-clothing purchases and each year we donate 4.7 billion pounds of clothing. Despite this, only 15% of used clothing is donated or recycled. In reality all household textiles can be recycled, no matter what condition they are in. Almost half (45%) of clothing that is recycled is work as used clothing.
Considering that we now buy as much as twice as much clothing as we did just 20 years ago, donating clothing to charity foundations makes sense. If you haven’t worn a piece of clothing in six months — especially if you live in a climate that has only one or two seasons — you need to give it away. Donating clothing not only helps charities that are helping disabled veterans and helping families in need, but you are also cutting down on the clutter and making room for what you really need.
Of course, it can also have tax benefits. It is wise to only support charity foundations that have been granted tax-exempt status under section 501(c) (3) of the Internal Revenue Code. If you make any donation of $250 or more, including clothing or household item donations, and want to write it off, you will require a receipt; a deduction for a clothing or household item not in good used condition and valued at more than $500 will require a qualified appraisal for a tax write-off. You can write-off $60 on average for men’s overcoats and suits.
