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In a charity auction the winning payment benefits a cause that is presumably valued by the bidder as well as competing bidders. Thus, the bidder receives a benefit from his own payment – both the item won and the value the donation supports the organization – and other bidders do as well, as their charity is supported.
The cash proceeds after liquidating the depreciated asset may of course be donated to charity and deducted following the sale, but the tax advantages of making such donation are no better or worse than in any cash donation to charity. In any case, such a course leaves the investor more after-tax assets to donate if so inclined.
The silent auction is a variant of the English auction in which bids are written on a sheet of paper. At the predetermined end of the auction, the highest listed bidder wins the item. [85] This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time.
White elephant sales are typically organized by non-profit organizations such as churches and schools to raise money for a charity cause or a special occasion like Easter or Mother's Day. They operate in a manner similar to many non-profit thrift shops. Members or friends of the organization holding the white elephant sale will donate old items ...
However, if you have a traditional IRA, you may qualify for a large $105,000 transfer to a charity tax-free, which might help you in other areas of your taxes. Let me explain. What is an IRA and ...
Charity non-profits face many of the same challenges of corporate governance which face large, publicly traded corporations. Fundamentally, the challenges arise from the "agency problem" - the fact that the management which controls the charity is necessarily different from the people who the charity is designed to benefit. In a non-profit ...
When Schandler writes the auction rules, his client is virtually guaranteed to win. Manny Farach, a West Palm Beach real estate lawyer who served as the past chair of the American Bar Association ...
He alleged Murray violated the auction rules. Lopez's 20-page order on the sale procedures, issued in September, made such a live bidding round optional. And it gave broad authority to Murray to ...