Money Tips To Help Those Affected by Harvey and Irma.

Recently, I had clients talk to me about sending donations for those affected by Harvey and those, unfortunately, in the path of Irma. I was proud to tell them that TD Ameritrade had created a fundraiser via The American Red Cross, whereby they would match any donations up to $500k. Within 2 days, TD was able to meet their goal and raise $1 million dollars. 

It made me think though that while thousands are being affected by these incredible storms, times like these bring out the best in everyone to help. Unfortunately, it can bring out those who are trying to take advantage as well. So, to ensure you do not get Scammed and your best efforts are being put to proper use, here are few places for you to consider when making a donation…

Charity links to consider

You likely have heard by now about Houston Texan’s Star, JJ Watts, and how he has used his celebrity to help raise funds for Harvey victims. At the time of this writing, Watt’s fund has raised nearly $30 million not to include items donated. He has gone as far too to gain advice from New Orleans Saint’s QB, Drew Brees, who became an integral part in 2006 with Hurricane Katrina recovery. JJ’s fund appears to be on the path for doing something great.     

Look For Large Reputable Places To Donate Money

o  JJ Watt’s Houston Relief Fund (www.youcaring.com) 

o  Hurricane Harvey Relief Fund (www.ghcf.org)

o  The Red Cross (https://www.redcross.org/)

Texting Money By Donation Can Also Be An Option

o  American Red Cross Text ‘Harvey’ to 90999 ($10)

o Salvation Army Text ‘Storm’ to 51555 (by calling 1-800-SAL-ARMY (1-800-725-2769) 

Other Ways to Donate?

Ideas For Non Cash Goods

o  Texas Diaper Bank (diapers, baby items) – Show ways you can help.

o  Amazon has created a “Red Cross Wish List” that shows items that may be in need.

Let’s Talk About Precautions People Can Take From Being Scammed?

As mentioned, there are those that are looking to take advantage of those less fortunate. So, here are a couple of places you can go to ensure your efforts to help are doing what you intend:

o  www.charitynavigator.org: Organization ranks charities for you (Similar to a Morning Star… ranking charities from 1-5 Stars).

Can see which ones are better and more reputable and those that are not.

o  IRS (www.irs.gov) has a search tool (called “EO SELECT CHECK”) for organization eligible to receive charitable contributions

And Is It Important To Get A Receipt?

Always good to get a receipt. Many people itemize their taxes so any receipt for cash donations or items donated will be useful. 

Is the organization TAX EXEMPT and/or can it receive TAX DEDUCTIBLE contributions?

Good to check and see if the organization does have a Tax Exempt status and/or if they can receive a taxable contribution. Again, couple of ways to avoid scammers.

Hopefully, some of the ideas and links provided here will help save you some time towards helping those victims affected by Hurricane Harvey and Irma. 

The sooner help gets started, the sooner recovery begins.

?Commonwealth Asset Management Group (AMG), LLC is a Registered Investment Advisor. This content is provided for the informational and educational purposes only and is not to be considered specific investment advice or a recommendation to take any particular investment action.