AboutLouis Schwarz, QFP, CFP®, RFC®. ChFEBC Expertise Over 36 years experience - discretionary investment management, advisory service, stocks, bonds, mutual funds, annuities, IRA, Roth, 403(b), 401k, tax planning, tax preparation, retirement planning, tax reduction, life insurances. I hold five professional designations: QFP, CFP, RFC, ChFEBC, and Paladin Registered Advisor with a professional rating of five stars.
Experience First deaf Certified Financial Planner licensee (http://www.cfpboard.org/), General Securities Registered Representative (Series 7)(http://www/finra.org), Registered Financial Consultant (http://www.iarfc.org/), Registered Investment Advisor, Qualified Financial Planner (http://www.iaqfp.org/), Admitted to Paladin Registry of Personal Financial Advisors (http://www.paladinregistry.com/); Chartered Federal Employee Benefits Consultant (http://www.chfebc.com/); Licensed Life, Health, & Disability Agent
Organizations Financial Planning Association, International Association of Registered Financial Consultants, National Association of Deaf, Alexander G. Bell Association of the Deaf, National Deaf Business Institute
Education/Credentials Gallaudet University, College for Financial Planning
Awards and Honors Who's Who in Finance and Industry, Who's Who in the World, NAD Flying Fingers Award, MDAD Distinguished Award, MCAD Business of Year, Montgomery (MD) County Business Award, 2007 Outstanding Business Person of the Year, Gallaudet University Department of Business
Question Hello
My nephew was just diagnosed with a genetic/incurable disease and we are trying to raise money or accept donations to help with the treatments (for quality of life) and for donating directly to the study disease once he passes. I guess my question is, is it possible for an individual to accept donations (non-taxable) and how would you go about doing this? Or could we set up an organization with the intention of paying off his medical bills and after he passes to donate all the money to the disease or a fund for other families affected by the disease? I see canisters in my local grocery store and I’m not sure that is the way to go, and people keep asking us: how can we help/ how can we donate to him? I just don’t know what to say.
Can you please help?
Answer Dear Bonnie
Sorry about your nephew.
Please find out the organization specializing in that disease - there they may help you with this.
Basically any donation to an individual is not deductible, It has to be donated to the organization listed in IRS approved list.
Once you find the right one, contact the officials there and share your concerns.
