Tuesday, December 11, 2012

PenFed Foundation Reminds Taxpayers to Help Service Members and Veterans, Donate Before Year’s End

Contributing can both have a big impact on your tax return and those
who defend our nation

December 11, 2012, WASHINGTON – The PenFed Foundation, a nationally
recognized nonprofit organization working to meet the unmet needs of
military personnel and their families reminded taxpayers today that
they have one more month to make tax-deductible donations to reduce
their tax bill next year. What better way to do that than support
service members and veterans along with their families? To qualify for
the tax deduction, donations must be made by Dec. 31.

"Many people don't start thinking about their taxes until March, but
by then it's too late to take advantage of the tax break for
charitable giving," said Kate Kohler, chief operating officer of the
PenFed Foundation. "It really pays to start thinking about donating in
December and reaching out now to those who defend our nation and
protect our freedom."

Donations to the foundation can be made to support its programs
focused on increasing financial literacy and education, including its
Military Heroes Fund, which provides wounded service members with
emergency financial support and free day care while undergoing medical
treatment. Making a contribution can also go towards both the
foundation's Asset Recovery Kit (ARK) initiative, giving no-interest
loans to service members in emergency situations, and its Dream Makers
program, which offers military personnel and their families grants for
down payments and closing costs when buying their first home.

Donors can also support the PenFed Foundation's Defenders Lodge, an
$11 million free hotel in Palo Alto, Calif. for veterans financed
entirely through private contributions and providing a home away from
home for over 20,000 wounded warriors and their care providers. The
construction of the lodge is currently underway and slated to be
completed in 2013.

Charitable donations are among the easiest deductions to claim, but
there are a few simple things taxpayers should keep in mind. First, to
claim it, you'll need to itemize your deductions instead of taking the
standard deduction. Second, you'll want to keep a copy or your
canceled check. And third, you'll want to keep the thank-you letter
acknowledging the gift sent by the PenFed Foundation.

"Every year, thousands of PenFed Foundation supporters are able to
reduce their tax burden by taking these few simple steps," added
Kohler. "It's a win-win situation. We can help more of our nation's
service members and veterans, while you can help cut your taxes."

To make a tax-deductible donation to the PenFed Foundation today go
to: http://www.penfedfoundation.org/donate.



***

About the Pentagon Federal Credit Union Foundation (PenFed Foundation)
The PenFed Foundation is a nationally recognized nonprofit
organization working to meet the unmet needs of military personnel and
their families through supporting wounded soldiers, providing
financial management assistance and home ownership aid. The foundation
is also the primary sponsor of the new $11 million Defenders Lodge
supported by donated land from the government and financed entirely
through private donations. The Pentagon Federal Credit Union covers
all labor expenses for the foundation so every dollar donated goes
directly to supporting its programs.

To make a donation or learn more about the foundation visit:
http://www.penfedfoundation.org.

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Sean Eagan
American Cold War Veterans, Inc.
Web: http://americancoldwarvets.org/
Blog: Cold War Veterans Blog
Email: Sean.Eagan@gmail.com
Phone: 716 720-4000
Network: My Fast Pitch! Profile