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Michael A. Milazzo, CLU, ChFC

Registered Principal

 

The Meridian Financial Company

3350 Club Villas Dr SE, Unit #1303

Southport, NC 28461

 

Phone:  631-979-4223

Fax:      910-854-0002

 

Email: meridian@ae.cadaretgrant.com

Website: www.merfinco.com

November/December 2024

U.S. Citizens Give Generously

US Citizens Give Generously

Americans gave an estimated $557.16 billion to U.S. charities in 2023, according to Giving USA 2023: The Annual Report on Philanthropy for the Year 2023 (from the Giving USA Foundation, the Giving Institute, and the Indiana University Lilly Family School of Philanthropy). The total includes charitable contributions made by individuals, estates, foundations, and corporations.


How to Choose
If you want to give to an organization that makes the most of your charitable giving, learn how much of each dollar goes toward the charity and how much is spent elsewhere. You can find some organizations with websites that evaluate the legitimacy of charities and how they spend contributions.


Also look for a charity's IRS Form 990 and ask to see the charity's audited financial statement to ensure it meets the standards you want. Match your giving objectives with a charity's mission and demonstrated results. Look for charities that best match your values.


Get Help
If you make large charitable contributions, consider enlisting the aid of your advisor and an estate planning attorney. Although the federal estate tax exclusion is higher than in the past, some families may exceed it while also having to deal with lower state estate and inheritance tax thresholds. Structured properly, charitable giving can both benefit your charity and reduce your estate taxes.


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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
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