WEBVTT - Philanthropy: Humankind and Loving It

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<v Speaker 1>Welcome to you stuff you should know from house stuff

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<v Speaker 1>works dot com. Hey, buddy, if you don't mind if

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<v Speaker 1>I plug my November page real quick, please do. I

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<v Speaker 1>am growing a mustache this month for November for uh

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<v Speaker 1>for cancer research, specifically male prostate cancer research. That's right.

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<v Speaker 1>And you can donate to my team, which would be

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<v Speaker 1>pretty cool because you know, you get a free podcast

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<v Speaker 1>and it'd be nice to grow a little money towards

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<v Speaker 1>cancer research in the name of nice here, give him

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<v Speaker 1>some money. He's growing on facial here to help a

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<v Speaker 1>charitable organization engage in really important scientific research. That's right.

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<v Speaker 1>And you can go to mobro dot c O slash

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<v Speaker 1>Charles Bryant and that's my page, or just go to

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<v Speaker 1>the November site. Type in Charles Bryan in the search

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<v Speaker 1>bar and look for the picture of me. There's only

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<v Speaker 1>a couple of ups out there. Check's wearing a red shirt.

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<v Speaker 1>That's right. Yeah, um, so what is that again? That's

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<v Speaker 1>mo bro dot CEO slash Charles Bryant. Yes, thank you

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<v Speaker 1>in advance. Yeah, that's nice chucking All right, let's get

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<v Speaker 1>to it, hey, and welcome to the podcast. I'm Josh Clark.

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<v Speaker 1>With me is always Charles W. Chuck Bryant. Oh, hold

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<v Speaker 1>on a second, buddy, Yeah, I think you've got something

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<v Speaker 1>you need to say. Oh yeah, um, let's go ahead

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<v Speaker 1>and plug our buddies over at Science Channel, our other home. Yeah. Uh.

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<v Speaker 1>Then they're airing punkin Chunking, the annual awesome fest of

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<v Speaker 1>shooting pumpkins through the air as far as you can

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<v Speaker 1>and then making them explode on contact. It's pretty great. Yeah,

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<v Speaker 1>it's a it's a real thing. Uh. And then Science

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<v Speaker 1>Shane ghosts every year and films it and they air

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<v Speaker 1>it as what's become a Thanksgiving tradition. So they're gonna

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<v Speaker 1>air it this Thanksgiving November twenty two and a pm. Right,

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<v Speaker 1>that's right. And we are still waiting to get invited

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<v Speaker 1>to go chunk punkins ourselves. We got invited last year,

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<v Speaker 1>did we? I think so? Oh yeah, but it was

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<v Speaker 1>like you guys can come if you want, if you

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<v Speaker 1>happen to be in the Northeast. Yeah, but it wasn't like, uh,

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<v Speaker 1>I wanted a formal invitation to participate. Okay, I got you. Um,

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<v Speaker 1>and uh, if you are in the punkin Chunking, Uh,

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<v Speaker 1>then you might want to go online to check out

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<v Speaker 1>the road to punk and Chunking. That's already up. There's

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<v Speaker 1>some great video to search punkin p U n k

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<v Speaker 1>I N chunking c h U n k I n

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<v Speaker 1>and science in your favorite search engine and it'll bring

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<v Speaker 1>that right up. Uh, and don't forget November twenty two,

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<v Speaker 1>this Thanksgiving at a p m. On Science Channel, punkin

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<v Speaker 1>Chunking the tradition. Yes, all right, you ready now, I'm ready, okay.

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<v Speaker 1>Back today is our good friend and longtime producer Jerry. Yeah,

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<v Speaker 1>I alins we had the class machine. Yeah. Well, people

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<v Speaker 1>are slow clapping all across the world right now, right,

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<v Speaker 1>very sar Jerry, We're so like you're back so much.

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<v Speaker 1>Just let know a slow clap is meaningful, yeah, but

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<v Speaker 1>can very easily be turned sarcastic. Just kind of cut

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<v Speaker 1>your head, decide. And I wonder what the first slow

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<v Speaker 1>clap was in a movie? You know, such a trope

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<v Speaker 1>at this point, but I wonder who invented it. A

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<v Speaker 1>bet of that information is out there. I want to know,

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<v Speaker 1>don't you want to know? I'm sure some movie website

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<v Speaker 1>is probably tracked this down. First slow clap. Let's find it, everybody.

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<v Speaker 1>Well wait, oh wait, uh, we should probably just go

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<v Speaker 1>ahead and do let's do it, Um Chuck. Yes, have

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<v Speaker 1>you ever given money to somebody who did nothing for

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<v Speaker 1>you in return? Maybe didn't sell you a good or service.

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<v Speaker 1>I just gave him the money. What do you mean

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<v Speaker 1>just like uh someone panhandler, charitable organization? That's philanthropy. You're

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<v Speaker 1>a philanthropist. Did you know that? Like that's all it takes.

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<v Speaker 1>And even better, this is the bright shiny episode. In

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<v Speaker 1>my opinion, I'm proud of this one. Um, have answer,

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<v Speaker 1>p works. You don't even need money, donate your time.

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<v Speaker 1>Your time is very valuable, Chuck. Yeah, And I think, well,

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<v Speaker 1>I can't say this because I'm just speculating, but it

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<v Speaker 1>seems to me that people are either like you know,

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<v Speaker 1>my my time is too valuable, but like I can

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<v Speaker 1>write someone to check yeah, or like I'm a little

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<v Speaker 1>light but I can't give my time. Or you can

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<v Speaker 1>put it like, well, the government doesn't let me deduct

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<v Speaker 1>time that i've donated, but they will let me deduct

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<v Speaker 1>the hundreds of thousands of dollars i've donated this year.

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<v Speaker 1>They should let you deduct time because they've actually figured

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<v Speaker 1>out I have like averages, like an hourly wage, volunteerism. Yeah, nice,

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<v Speaker 1>that would be awesome. Let's get that in the tax code.

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<v Speaker 1>That's a great idea. UM. You can, however, like if

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<v Speaker 1>you were, say, um, donating your time by going down

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<v Speaker 1>to like Louisiana to help clean up after a hurricane,

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<v Speaker 1>or Kansas or Missouri to help clean up after a tornado,

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<v Speaker 1>and you like bought a bus ticket or you drove,

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<v Speaker 1>you can deduct transportation and costs. But once you get there,

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<v Speaker 1>the government doesn't care about you. But you candiduc money

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<v Speaker 1>as far as transportation. Oh and just regular contributions, right.

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<v Speaker 1>It depending on on who you give to. And we

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<v Speaker 1>have a very thrilling segment in this episode about the

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<v Speaker 1>tax code, um, the ins and outs of it. Chuck

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<v Speaker 1>is not very excited about it. I think this is

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<v Speaker 1>kind of neat um. But we're talking about philanthropy and

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<v Speaker 1>it's kind of become I don't want to say vogue.

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<v Speaker 1>Maybe it has for the ultra rich, some of the

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<v Speaker 1>richest people in the world, at least the richest people

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<v Speaker 1>in America, like Bill Gates, Warren Buffett yea to sign

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<v Speaker 1>a pledge that Bill Gates created, the Bill and Melinda

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<v Speaker 1>Gates Foundation created this thing. Saying, hey, we're going to

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<v Speaker 1>donate at least half of our vast wealth, and they're

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<v Speaker 1>trying to sign billionaires up to agree to this and

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<v Speaker 1>then we'll just be super super super wealthy. Well, the

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<v Speaker 1>Bill and Melinda Gates Foundation is this like superstar foundation

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<v Speaker 1>that was like in the assets that controls is like

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<v Speaker 1>the GDP of several nations. That's pretty amazing. It's like

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<v Speaker 1>thirty seven billion dollars in assets right now. You can

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<v Speaker 1>do a lot of good with that. And one of

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<v Speaker 1>the people they signed on was Warren Buffett, and he's

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<v Speaker 1>worth forty nine billion dollars right now. He's pledged of

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<v Speaker 1>his fortune to the Gates Foundation afterward after he's dead,

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<v Speaker 1>which I mean he's getting up there. So they may

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<v Speaker 1>have about eighty billion dollars in assets in their control,

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<v Speaker 1>which is a well, I was gonna say that's almost

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<v Speaker 1>as much. It's about three quarters of the assets are

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<v Speaker 1>the value the capital value of the most valuable corporation

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<v Speaker 1>in the world, Apple, which ironically had a founder who

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<v Speaker 1>may have never given a cent to charity. Oh really,

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<v Speaker 1>Steve Jobs died without officially having given any money to

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<v Speaker 1>charity at all. Any He was notoriously stingy, and after

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<v Speaker 1>his death there is a lot of talk like, Okay,

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<v Speaker 1>did he did he really amass an eight billion dollar

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<v Speaker 1>fortune and not donate any of it, And a lot

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<v Speaker 1>of people were like, you know what, even if he didn't,

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<v Speaker 1>you know, to heck with you, he gave this technology

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<v Speaker 1>to the world and people are using it to better humanity. Well,

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<v Speaker 1>he doesn't need to give money. And other people are like, yeah,

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<v Speaker 1>if you have eight billion dollars in personal wealth, you

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<v Speaker 1>need to give some of that for other things like

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<v Speaker 1>water and stuff that you can't use an iPhone app for, right, Sure,

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<v Speaker 1>I guess it depends on how you feel about it all.

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<v Speaker 1>And then there was another camp that was saying, hey,

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<v Speaker 1>it's totally possible that he was just not a jerk

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<v Speaker 1>and he donated a lot of money, But he did anonymously.

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<v Speaker 1>He didn't want a bunch of glory or he didn't

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<v Speaker 1>want a bunch of charities knocking down his door like, hey, hey,

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<v Speaker 1>give us some too, for whatever reason. But you're saying

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<v Speaker 1>that did not happen. He didn't give anonymously. No one knows.

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<v Speaker 1>It's a mystery. Oh, I thought you said for sure

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<v Speaker 1>he didn't give any money ever, because he was so

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<v Speaker 1>cheap on paper. Oh there is no no record of

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<v Speaker 1>him ever giving a cent to charity, but it's pretty

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<v Speaker 1>pretty interesting, Like I can't imagine having a billion dollars

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<v Speaker 1>and not giving any of it away. But he Bill

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<v Speaker 1>Gates approached him and he's like, nah, I'm not signing

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<v Speaker 1>that pledge, and will you pick up the check? Right?

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<v Speaker 1>Exactly right? Yeah, it's like I don't validate parking you again.

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<v Speaker 1>I remember um Ted Turner kind of was one of

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<v Speaker 1>the original guys to give a ton of money. When

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<v Speaker 1>he gave the billion to the un I remember that

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<v Speaker 1>was a really big deal at the time. Yeah, I

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<v Speaker 1>don't know that he gave it to the u N

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<v Speaker 1>What do they do with it? I don't know, because

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<v Speaker 1>just they went in the general fun I guess so.

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<v Speaker 1>But it was a big deal of the time. This

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<v Speaker 1>was a long time ago, but like in the seventies

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<v Speaker 1>or eighties, no nineties. I don't have to look, but

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<v Speaker 1>it was long enough to go. I go such that

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<v Speaker 1>it was a really big deal that someone gave a billion,

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<v Speaker 1>A personal individual gave a billion dollars. I think at

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<v Speaker 1>the time it might have been the largest individual donation.

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<v Speaker 1>That's crazy. That's neat. I like that though, cool guy. Yeah. Um.

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<v Speaker 1>But this whole thing, this trend that's going on among

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<v Speaker 1>the uber wealthy um is kind of this throwback to

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<v Speaker 1>the beginning of the last century when like the Rockefellers,

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<v Speaker 1>um and the Carnegies were setting up foundations that are

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<v Speaker 1>still around today. Yeah, the Ford Foundation, the UM what

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<v Speaker 1>the Rockefeller they created like a bunch of different trusts

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<v Speaker 1>Dirty Rock. Yeah, University of Chicago. That was another thing

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<v Speaker 1>that was invokes setting up huge universities, Cornell, Sanford, all

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<v Speaker 1>those were rich people endowing universities. It was like there

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<v Speaker 1>wasn't a university. Therefore, now there is. What's the one

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<v Speaker 1>you always here on NPR, the Ford Foundation, the Joseph

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<v Speaker 1>and Catherine. Man, it's so in my consciousness, I can't believe.

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<v Speaker 1>I can't just split it up. You know, one of

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<v Speaker 1>us will shout it in about forty five Yeah, exactly, okay,

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<v Speaker 1>But anyway, so um, Yeah, you usually associate philanthropy with

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<v Speaker 1>the uber wealthy, but it doesn't have to be. You

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<v Speaker 1>can be poor and as a matter of fact, the

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<v Speaker 1>poorest Americans contribute the highest percentage of their income of

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<v Speaker 1>any income bracket in the country. Did you know that? Yeah?

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<v Speaker 1>I did. And in fact, if the richest people contributed

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<v Speaker 1>that same percentage, then um, there would be fewer problems

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<v Speaker 1>in the world. I would say, So, you know, but

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<v Speaker 1>the rich people give the most because they have the most. Yeah,

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<v Speaker 1>I've got stats, but we'll get to those later. Well,

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<v Speaker 1>let's talk about a couple of stats. How many charities

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<v Speaker 1>are there in the country. Well, this says six hundred

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<v Speaker 1>thousand in the article. I think it's a little out

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<v Speaker 1>of date, is it? Because I found um, in two

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<v Speaker 1>thousand eleven there are approximately one million, eighty thousand, one

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<v Speaker 1>thirty charitable organizations. Um. This says that was a decrease

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<v Speaker 1>from so maybe this counts. Maybe this only counted, although

0:10:57.120 --> 0:10:59.360
<v Speaker 1>this is it counts foundations. Yeah, I think there was

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<v Speaker 1>an enormal increase. Yeah, because I have the feeling that

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<v Speaker 1>this article is written about two thousand three. Okay, well

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<v Speaker 1>that that would be a real big increase in a

0:11:09.440 --> 0:11:13.480
<v Speaker 1>million a million plus. So, um, three hundred and fifty

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<v Speaker 1>five of which are religious congregations, which we'll get into

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<v Speaker 1>that three thousand, um, and then uh, in the United

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<v Speaker 1>States and two thousand eleven charitable giving total two hundred

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<v Speaker 1>ninety eight billion dollars. Yeah. Um, and that was an

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<v Speaker 1>increase from two dozen ten, which saw two six billion dollars. Yeah,

0:11:35.440 --> 0:11:38.840
<v Speaker 1>two hundred and seventeen from individuals, which is pretty amazing

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<v Speaker 1>that se of all charitable gifts are from people. And

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<v Speaker 1>if you factor in bequests like people's leaving stuff in

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<v Speaker 1>their wills, which is also individuals and family foundations, it

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<v Speaker 1>rises to eighty eight percent and more than that, I think.

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<v Speaker 1>And then I saw percent on philanthropy dot com, the

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<v Speaker 1>Chronical of Philanthropy. Uh well, I have foundations at fourteen percent,

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<v Speaker 1>bequest at eight percent, and in last place corporate donations

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<v Speaker 1>at five mm. Apparently they get the least. And you

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<v Speaker 1>know what I just heard the other day. I don't

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<v Speaker 1>know if this is true. Maybe we can get confirmation.

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<v Speaker 1>You know, when you go to the grocery store and

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<v Speaker 1>they ask you to would you like to donate to

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<v Speaker 1>marchup dimes or whatever like on your thing? Yeah, where

0:12:25.600 --> 0:12:28.600
<v Speaker 1>is this coming? A listener about this was that? Yeah?

0:12:28.600 --> 0:12:31.280
<v Speaker 1>I think maybe that was it. Someone said that they

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<v Speaker 1>call those donations under their companies, under their corporation, and

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<v Speaker 1>like like you know, the grocery store donated that money

0:12:41.320 --> 0:12:44.000
<v Speaker 1>and gets the tllions of dollars and gets a text deduction.

0:12:44.280 --> 0:12:46.040
<v Speaker 1>And so I'm not saying you shouldn't do that, but

0:12:46.080 --> 0:12:48.520
<v Speaker 1>it's just something to consider for sure. Let's say let's

0:12:48.520 --> 0:12:50.880
<v Speaker 1>say you're like, no, I'm not giving a cent to

0:12:51.240 --> 0:12:55.120
<v Speaker 1>March of Dimes. Premature babies can all like um, And

0:12:55.160 --> 0:12:58.319
<v Speaker 1>then but you really really care about muscular distrophe. So

0:12:58.400 --> 0:13:00.360
<v Speaker 1>the time when they hit you up for that sham rock,

0:13:00.679 --> 0:13:02.440
<v Speaker 1>be like, of course, not only will I give one dollar,

0:13:02.480 --> 0:13:05.440
<v Speaker 1>will give five dollars? Well t s for you because

0:13:05.480 --> 0:13:08.040
<v Speaker 1>you have no say whatsoever and where that money is going.

0:13:08.080 --> 0:13:10.240
<v Speaker 1>Because they pull it all together in a plot that

0:13:10.280 --> 0:13:13.400
<v Speaker 1>they shell out quarterly or annually, and then they take

0:13:13.679 --> 0:13:17.320
<v Speaker 1>the tax reexplot. Whoever wrote that in um, like, I've

0:13:17.360 --> 0:13:20.600
<v Speaker 1>stopped all together giving it a grocery store now, like

0:13:20.640 --> 0:13:23.160
<v Speaker 1>I don't even consider I don't even feel bad saying no, Now,

0:13:23.320 --> 0:13:25.160
<v Speaker 1>yeah I have. I have kind of stopped doing that too,

0:13:25.280 --> 0:13:29.520
<v Speaker 1>just because if you're gonna give money, that will explain

0:13:29.559 --> 0:13:32.040
<v Speaker 1>you should take the time to research and do it

0:13:32.080 --> 0:13:33.839
<v Speaker 1>in a way that you feel good about and it's

0:13:33.880 --> 0:13:35.640
<v Speaker 1>responsible and that you know where the money is going

0:13:35.760 --> 0:13:40.800
<v Speaker 1>and all that stuff. Let's talk about that buddy. Um. Well,

0:13:40.840 --> 0:13:42.280
<v Speaker 1>one thing they point out early in the in the

0:13:42.360 --> 0:13:44.439
<v Speaker 1>article though, that we should say is that these days

0:13:44.760 --> 0:13:48.720
<v Speaker 1>more and more nonprofits are seeking funds in different ways

0:13:48.760 --> 0:13:52.680
<v Speaker 1>because um, a lot of government funding is declining and

0:13:53.480 --> 0:13:57.920
<v Speaker 1>uh going away all together. So they need money more

0:13:57.920 --> 0:14:01.600
<v Speaker 1>than ever. Uh and costs are going obviously. So that

0:14:01.720 --> 0:14:05.720
<v Speaker 1>is why you will see websites and billboards and door

0:14:05.760 --> 0:14:09.240
<v Speaker 1>to door and flyers and everything to get in touch

0:14:09.320 --> 0:14:14.920
<v Speaker 1>with the potential. Uh. Don't donate or don't or don't

0:14:15.000 --> 0:14:16.920
<v Speaker 1>or right, that's a good thing. They wrote. A word

0:14:17.800 --> 0:14:22.080
<v Speaker 1>means that. Uh. But like you said, philanthropy doesn't have

0:14:22.120 --> 0:14:24.640
<v Speaker 1>to be just about money. No it doesn't. But the

0:14:24.760 --> 0:14:29.240
<v Speaker 1>word philanthropy means that you love humans. Phil means loving

0:14:29.880 --> 0:14:34.840
<v Speaker 1>anthrope or anthropo or anthropy is humankind. So you love

0:14:34.920 --> 0:14:37.520
<v Speaker 1>human kind by giving money to it. That's how you're

0:14:37.560 --> 0:14:43.120
<v Speaker 1>demonstrating your love of humankind. Um. Checking out charity. So

0:14:43.560 --> 0:14:46.880
<v Speaker 1>this is a big one. It's a big deal. I

0:14:46.880 --> 0:14:50.360
<v Speaker 1>don't know how many people do this. I think, I

0:14:50.400 --> 0:14:54.040
<v Speaker 1>don't know. I want to say I don't you know,

0:14:54.600 --> 0:14:57.400
<v Speaker 1>but I mean, like normally the charitable giving I do

0:14:57.600 --> 0:15:00.560
<v Speaker 1>is like, you know, whoever's bringing the Bell at that

0:15:00.600 --> 0:15:04.960
<v Speaker 1>moment or something like that, or it was UM or

0:15:05.080 --> 0:15:08.640
<v Speaker 1>it's on an individual basis, like it's not necessarily through charity, right,

0:15:09.120 --> 0:15:12.560
<v Speaker 1>I hear you. UM. They say there are a few

0:15:12.600 --> 0:15:14.520
<v Speaker 1>guidelines you can look for if you're checking out a

0:15:14.560 --> 0:15:17.960
<v Speaker 1>charity to judge whether or not you think they're you know,

0:15:18.240 --> 0:15:23.600
<v Speaker 1>spending money wisely, UM generally fifty of every dollar should

0:15:23.640 --> 0:15:27.560
<v Speaker 1>go to the actual work the charity work, right, and

0:15:27.560 --> 0:15:31.960
<v Speaker 1>then the other remaining for operational marketing administrative costs. So

0:15:32.160 --> 0:15:35.680
<v Speaker 1>I I from what I saw, that's a very generous

0:15:36.280 --> 0:15:44.240
<v Speaker 1>towards the charities. Percentage I saw of your costs for

0:15:44.360 --> 0:15:49.360
<v Speaker 1>UM administration and fundraising should go to programs. But that's

0:15:49.560 --> 0:15:53.600
<v Speaker 1>charity choices dot com that says that that's probably the ideal. Yeah,

0:15:53.640 --> 0:15:56.480
<v Speaker 1>I'm sure. I think that the sixty cents is like

0:15:56.560 --> 0:15:59.240
<v Speaker 1>anything less than this and you should really like examine.

0:15:59.640 --> 0:16:01.520
<v Speaker 1>It means there's people at the top taking a big

0:16:01.520 --> 0:16:03.840
<v Speaker 1>paycheck or they're not doing a very good job of

0:16:03.920 --> 0:16:07.160
<v Speaker 1>managing their money. But it could also mean that if

0:16:07.200 --> 0:16:09.000
<v Speaker 1>you look at the age of the charity or the

0:16:09.000 --> 0:16:12.360
<v Speaker 1>size of the charity, like there's an economy of scale

0:16:12.360 --> 0:16:16.400
<v Speaker 1>in raising money. So if you, if you are established,

0:16:16.440 --> 0:16:19.000
<v Speaker 1>you have an established name, or you've been doing this

0:16:19.040 --> 0:16:22.160
<v Speaker 1>a while, your your phone raising costs are going to

0:16:22.200 --> 0:16:25.040
<v Speaker 1>be lower than say a new charity or a radical

0:16:25.120 --> 0:16:29.000
<v Speaker 1>charity that that does controversial work, because they're gonna have

0:16:29.000 --> 0:16:32.360
<v Speaker 1>a harder time generating money. So just because their fundraising

0:16:32.400 --> 0:16:34.040
<v Speaker 1>costs are high, it doesn't mean that they're all like

0:16:35.120 --> 0:16:38.520
<v Speaker 1>just enjoying lavish tuxedo based parties. And that's where all

0:16:38.560 --> 0:16:44.960
<v Speaker 1>the money is based, rather than business casual based, rather

0:16:45.000 --> 0:16:49.600
<v Speaker 1>than turtlenecks and jackets based. If you want to find

0:16:49.600 --> 0:16:53.120
<v Speaker 1>out about a charity job in it, you can write

0:16:53.160 --> 0:16:57.320
<v Speaker 1>a letter to the local charity registration office, usually within

0:16:57.360 --> 0:17:01.000
<v Speaker 1>the state Attorney General's office, and six eight weeks later

0:17:01.160 --> 0:17:03.960
<v Speaker 1>you might get a letter back. These days, you can

0:17:04.000 --> 0:17:07.639
<v Speaker 1>go online and uh, I went online actually today and

0:17:07.680 --> 0:17:11.840
<v Speaker 1>registered with guide Star and there's a charity. No has

0:17:11.920 --> 0:17:15.879
<v Speaker 1>the money started coming in? Um No. Guide Star is

0:17:15.880 --> 0:17:17.200
<v Speaker 1>one of the places you can go to check out

0:17:17.200 --> 0:17:19.399
<v Speaker 1>other charities, and you have to register to log in.

0:17:20.119 --> 0:17:22.840
<v Speaker 1>And because I wanted to check out, you know, like

0:17:23.080 --> 0:17:26.520
<v Speaker 1>our friends at Cooperative for Education. Yes, like all the

0:17:26.520 --> 0:17:30.600
<v Speaker 1>records are there for what you're looking for. I looked

0:17:30.640 --> 0:17:32.840
<v Speaker 1>at it text form, and you know what my first

0:17:32.880 --> 0:17:35.720
<v Speaker 1>thought was, Man, I feel so bad that Joe and

0:17:35.720 --> 0:17:39.320
<v Speaker 1>those guys have to fill this thing out every year. Dude,

0:17:39.320 --> 0:17:41.359
<v Speaker 1>it was so long, and but they don't have to

0:17:41.400 --> 0:17:45.679
<v Speaker 1>file taxes. So yeah, true whatever, it's all awash, right,

0:17:46.000 --> 0:17:47.920
<v Speaker 1>but you'll be glad to know they're you know, obviously

0:17:47.960 --> 0:17:49.439
<v Speaker 1>doing great work. They're on the up and up. We

0:17:49.480 --> 0:17:51.520
<v Speaker 1>knew that, Yeah, we definitely didn't know that. We saw

0:17:51.560 --> 0:17:55.639
<v Speaker 1>it firsthand the the we checked those guys out personally,

0:17:55.680 --> 0:17:58.760
<v Speaker 1>I stand behind Cohen. Uh. The Center for Better Better

0:17:58.800 --> 0:18:02.520
<v Speaker 1>Business Bureau, it's another place. The Foundation Center is another place,

0:18:03.080 --> 0:18:06.680
<v Speaker 1>and you can get basically have access to the numbers

0:18:06.920 --> 0:18:09.400
<v Speaker 1>if you really want to check it out thoroughly. Right,

0:18:09.480 --> 0:18:12.800
<v Speaker 1>So the form is gonna have like a general description

0:18:12.840 --> 0:18:15.159
<v Speaker 1>of the work they do, the programs they do, who's

0:18:15.240 --> 0:18:19.520
<v Speaker 1>running the thing, where their money is going? Uh? And

0:18:19.560 --> 0:18:21.639
<v Speaker 1>I think it gets a little more specific than just

0:18:21.680 --> 0:18:26.440
<v Speaker 1>like programs fundraising an administrative costs. Right, doesn't it break

0:18:26.440 --> 0:18:30.159
<v Speaker 1>it down a little more like there's had all the

0:18:30.200 --> 0:18:33.480
<v Speaker 1>different you know drives that they did, and it broke

0:18:33.480 --> 0:18:36.000
<v Speaker 1>it down specifically to you know, if you were into

0:18:36.000 --> 0:18:38.040
<v Speaker 1>looking all that stuff up. It's there, right, and I

0:18:38.119 --> 0:18:40.960
<v Speaker 1>mean like if you really want to know, I mean

0:18:40.960 --> 0:18:43.240
<v Speaker 1>if you give to like a mega charity like the

0:18:43.240 --> 0:18:45.640
<v Speaker 1>Salvation Army in the United Way or something like that.

0:18:46.119 --> 0:18:49.280
<v Speaker 1>Like they have more than than just one program, so

0:18:49.480 --> 0:18:51.919
<v Speaker 1>they may be doing work that you don't necessarily agree with.

0:18:52.000 --> 0:18:55.360
<v Speaker 1>So there's another reason to go look at for um

0:18:55.640 --> 0:18:59.159
<v Speaker 1>because you'll see what what programs they're carrying out, like

0:18:59.200 --> 0:19:01.960
<v Speaker 1>all of them. Yeah, well that's what the Common Foundation

0:19:02.000 --> 0:19:03.760
<v Speaker 1>got in hot water, remember with the whole plan parent

0:19:03.800 --> 0:19:06.320
<v Speaker 1>a thing last year or was that early this year?

0:19:06.359 --> 0:19:09.000
<v Speaker 1>It was so at some point in the recent past. Yeah,

0:19:09.119 --> 0:19:11.400
<v Speaker 1>So that's you know, there's when you get that big.

0:19:11.440 --> 0:19:14.160
<v Speaker 1>There are other associations you might want to know about. Yeah,

0:19:14.200 --> 0:19:19.239
<v Speaker 1>depending on your your affiliation, you're socio political affiliation, that's right. Uh.

0:19:19.280 --> 0:19:22.040
<v Speaker 1>There's about three ways that they're going to be spending

0:19:22.080 --> 0:19:27.399
<v Speaker 1>their money though program services, and these are what you

0:19:27.440 --> 0:19:29.960
<v Speaker 1>want your money to be going to most. If you

0:19:29.960 --> 0:19:32.399
<v Speaker 1>want to just feel better about yourself at night, you

0:19:32.440 --> 0:19:34.439
<v Speaker 1>don't want to think paid the water bill there at

0:19:34.480 --> 0:19:37.080
<v Speaker 1>the building. You want to think I've put a sandwich

0:19:37.119 --> 0:19:41.160
<v Speaker 1>in a needy kid's hand a good one too. Uh.

0:19:41.240 --> 0:19:44.399
<v Speaker 1>Management operational costs is next. Like I said, it's a

0:19:44.400 --> 0:19:46.320
<v Speaker 1>little less exciting to think about that, but they need

0:19:46.359 --> 0:19:50.159
<v Speaker 1>to pay their rent and bills, definitely they need. And

0:19:50.200 --> 0:19:53.880
<v Speaker 1>then you've got fundraising, yeah, which can really rack it up.

0:19:54.080 --> 0:19:58.200
<v Speaker 1>I mean it's everything from like direct mailer's too lavish parties, um,

0:19:58.240 --> 0:20:02.000
<v Speaker 1>if you're courting celebrities and they like that kind of thing. Um.

0:20:02.200 --> 0:20:07.879
<v Speaker 1>And a well run, well managed charity can take you know,

0:20:08.240 --> 0:20:11.200
<v Speaker 1>X number of dollars whatever they're they're fundraising costs are

0:20:11.240 --> 0:20:15.560
<v Speaker 1>and grow it exponentially, use it correctly. But there's also

0:20:15.640 --> 0:20:17.400
<v Speaker 1>charities out there that don't know what they're doing and

0:20:17.600 --> 0:20:21.119
<v Speaker 1>shouldn't get the same funding. If you've got over a million,

0:20:21.240 --> 0:20:23.879
<v Speaker 1>there's bound to be a handful that aren't quite right,

0:20:24.080 --> 0:20:27.480
<v Speaker 1>you know, and some that are outright scams. Yeah, unfortunately,

0:20:28.800 --> 0:20:30.480
<v Speaker 1>and I think we have one of those, don't. Well.

0:20:30.560 --> 0:20:33.080
<v Speaker 1>There was a guy, um in this article, there's a

0:20:33.119 --> 0:20:38.120
<v Speaker 1>guy in Texas who after a tornado I think hit Austin,

0:20:38.160 --> 0:20:40.720
<v Speaker 1>he set up a charity that asked people the mail

0:20:40.760 --> 0:20:44.600
<v Speaker 1>one dollar donations checks made out to cash and mail

0:20:44.680 --> 0:20:46.920
<v Speaker 1>him too this po box and people did. He kept

0:20:46.920 --> 0:20:51.639
<v Speaker 1>the money. Unsurprisingly, there's just there's a bad place for

0:20:51.760 --> 0:20:55.600
<v Speaker 1>those people in their next life. Drifters. It's about the

0:20:55.600 --> 0:20:58.240
<v Speaker 1>worst thing you can do. No one likes you when

0:20:58.280 --> 0:21:01.600
<v Speaker 1>you're a grifter. Other grifters don't like you. Sure they'll

0:21:01.640 --> 0:21:06.960
<v Speaker 1>make movies about you, but I mean, like that's about it, Josh.

0:21:07.160 --> 0:21:09.040
<v Speaker 1>How would you go about so listening money if you

0:21:09.080 --> 0:21:13.360
<v Speaker 1>were a charity, if you're a nonprofit, well not for profit, Well,

0:21:13.400 --> 0:21:15.440
<v Speaker 1>one of the things I would do is probably take

0:21:15.560 --> 0:21:21.920
<v Speaker 1>some of my initial UM money, my initial capital, and um,

0:21:21.960 --> 0:21:25.160
<v Speaker 1>I would buy some mailing lists of other donors from

0:21:25.200 --> 0:21:28.880
<v Speaker 1>other charities, which is extremely common practice these days. Yeah,

0:21:28.880 --> 0:21:31.080
<v Speaker 1>I wonder what kind of money to make doing that. Well,

0:21:31.080 --> 0:21:33.399
<v Speaker 1>that's that's one reason they do it. They they like

0:21:33.440 --> 0:21:36.560
<v Speaker 1>a charity, will will compile a mailing list and they'll

0:21:36.560 --> 0:21:40.439
<v Speaker 1>sell it to other charities for income. Um. Yes, and

0:21:40.480 --> 0:21:44.120
<v Speaker 1>again it's kind of practice. Uh. They also, um will

0:21:44.160 --> 0:21:46.160
<v Speaker 1>sell them not necessarily just for the money. They may

0:21:46.200 --> 0:21:49.399
<v Speaker 1>swap them with other charities. Because if you've donated to

0:21:49.440 --> 0:21:53.120
<v Speaker 1>a charity, you've separated yourself I imagined from a lot

0:21:53.240 --> 0:21:58.199
<v Speaker 1>of other people. UM. And you're somebody who may be

0:21:58.320 --> 0:22:02.200
<v Speaker 1>willing to give money to a different charity. You two. Um.

0:22:02.240 --> 0:22:04.520
<v Speaker 1>So that's one way I would do a direct mailing.

0:22:05.000 --> 0:22:08.600
<v Speaker 1>I would hire a bunch of clean cut teenagers who

0:22:08.600 --> 0:22:11.640
<v Speaker 1>are enthusiastic about the charity that they represented, and send

0:22:11.680 --> 0:22:16.440
<v Speaker 1>him to the door clearly labeled through uniforms and possibly

0:22:16.480 --> 0:22:21.160
<v Speaker 1>matching khaki pants uh as representatives of the charity, complete

0:22:21.200 --> 0:22:26.280
<v Speaker 1>with identification, and lots of pamphlets about the programs that

0:22:26.320 --> 0:22:29.760
<v Speaker 1>we have. Wow, you're like, you have the starter kit

0:22:29.800 --> 0:22:32.479
<v Speaker 1>ready to go. It's I'm ready. I just need some

0:22:33.080 --> 0:22:36.240
<v Speaker 1>an injection of funding. I don't know the programs yet,

0:22:36.280 --> 0:22:38.919
<v Speaker 1>but everything else I've got lined up. Um. As this

0:22:39.040 --> 0:22:41.919
<v Speaker 1>article points out, if you are getting more solicitation than

0:22:41.960 --> 0:22:46.640
<v Speaker 1>you like, you can right the letter to the organization

0:22:47.000 --> 0:22:50.520
<v Speaker 1>requesting your name be removed. Um. It may or may

0:22:50.560 --> 0:22:54.040
<v Speaker 1>not work, and keep a copy of that letter, or

0:22:54.119 --> 0:22:56.640
<v Speaker 1>you can just go to their website and unsubscribe. Well

0:22:56.720 --> 0:22:58.320
<v Speaker 1>that was I think one of the things that gave

0:22:58.320 --> 0:23:01.719
<v Speaker 1>this away was like, um, the it's saying like more

0:23:01.800 --> 0:23:03.800
<v Speaker 1>and more charities are starting to go to the web

0:23:03.880 --> 0:23:06.679
<v Speaker 1>now exactly, And I think the web was capitalized and

0:23:06.720 --> 0:23:11.159
<v Speaker 1>maybe in quotation marks and then in parentheses afterwards it

0:23:11.200 --> 0:23:18.119
<v Speaker 1>said the Worldwide Web. Um. Um, if you want to donate,

0:23:18.240 --> 0:23:22.000
<v Speaker 1>you can give cash. If you're walking by a Salvation

0:23:22.080 --> 0:23:25.200
<v Speaker 1>Army Santa Claus, you can't. I mean, it's a way

0:23:25.240 --> 0:23:26.800
<v Speaker 1>to go. You can throw your change in the bucket

0:23:26.920 --> 0:23:29.200
<v Speaker 1>if you've done the work. Though you're looking at Form

0:23:29.280 --> 0:23:32.200
<v Speaker 1>nine nineties and stuff like that, that's probably supplemental to

0:23:32.280 --> 0:23:35.400
<v Speaker 1>the actual charitable giving you're doing. So if you are

0:23:35.480 --> 0:23:39.439
<v Speaker 1>like really seriously philanthropic, like it's a pastime of yours

0:23:39.600 --> 0:23:44.520
<v Speaker 1>or a tax strategy as we'll see, Um, you you

0:23:44.640 --> 0:23:47.920
<v Speaker 1>will probably want to write checks because they're good records

0:23:48.000 --> 0:23:50.439
<v Speaker 1>that you want to keep. You might want to go

0:23:50.480 --> 0:23:53.040
<v Speaker 1>down to your bank and get the canceled check after

0:23:53.080 --> 0:23:56.600
<v Speaker 1>it's been cashed and um keep it in a safe

0:23:56.640 --> 0:24:01.720
<v Speaker 1>deposit box. Yes, Or because seven you can donate on

0:24:01.720 --> 0:24:04.000
<v Speaker 1>the internet with your credit card. Yeah, I hear. More

0:24:04.000 --> 0:24:06.359
<v Speaker 1>and more charities are going to the web and they're

0:24:06.400 --> 0:24:08.560
<v Speaker 1>just as many records as if you wrote that check,

0:24:09.040 --> 0:24:13.520
<v Speaker 1>and it's all very legit these days. UM, probably don't

0:24:13.560 --> 0:24:15.679
<v Speaker 1>need to worry about it unless, I mean, if you

0:24:15.680 --> 0:24:18.480
<v Speaker 1>can't tell the difference between a reputable website at this point,

0:24:18.560 --> 0:24:21.080
<v Speaker 1>then you know you're one of those people that falls

0:24:21.080 --> 0:24:23.919
<v Speaker 1>for the Nigerian scam, I guess, but I feel bad

0:24:23.960 --> 0:24:26.000
<v Speaker 1>for these people if it's all like making fun, But well,

0:24:26.080 --> 0:24:29.359
<v Speaker 1>go listen to the con Artists episode. That will be helpful.

0:24:29.440 --> 0:24:32.520
<v Speaker 1>Maybe that's a companion this one. Sadly, UM. You can

0:24:32.560 --> 0:24:36.520
<v Speaker 1>also if you are loaded, or if you really don't

0:24:36.560 --> 0:24:41.240
<v Speaker 1>like your family, you can leave UM money, land, goods,

0:24:41.280 --> 0:24:45.199
<v Speaker 1>your oldsmobile, all those things to charities still take them.

0:24:45.240 --> 0:24:50.840
<v Speaker 1>Maybe I'll will the my squatted land with that too.

0:24:52.760 --> 0:24:55.479
<v Speaker 1>That would be very nice. Maybe like thanks for this

0:24:55.560 --> 0:24:57.480
<v Speaker 1>thing that we can do nothing we have to mow

0:24:57.560 --> 0:25:01.720
<v Speaker 1>this and Josh the final way, is UM really popular

0:25:01.760 --> 0:25:07.440
<v Speaker 1>these days donating UM old things that you don't use anymore? UM.

0:25:07.520 --> 0:25:09.760
<v Speaker 1>And you know, we've been doing this forever in terms

0:25:09.760 --> 0:25:12.080
<v Speaker 1>of like furniture and clothing and stuff like that, but

0:25:12.119 --> 0:25:15.359
<v Speaker 1>nowadays things like computers, as we mentioned in a recent

0:25:15.520 --> 0:25:18.320
<v Speaker 1>listener mail or an upcoming listener mail which you're still

0:25:18.359 --> 0:25:22.240
<v Speaker 1>trying to get yeah about UM donating old computers to

0:25:22.280 --> 0:25:24.639
<v Speaker 1>this group in Athens, Georgia. But there are lots of

0:25:24.760 --> 0:25:26.960
<v Speaker 1>organizations that do that now. You can donate your car

0:25:28.000 --> 0:25:33.760
<v Speaker 1>right that off. UM office supplies, building materials, emergency supplies.

0:25:33.880 --> 0:25:37.720
<v Speaker 1>Those are huge obviously when catastrophe hits. Yeah, when the

0:25:37.760 --> 0:25:40.480
<v Speaker 1>poop hits the fan, that's right. And you can write

0:25:40.480 --> 0:25:43.120
<v Speaker 1>most of this stuff off as well. You can't, um,

0:25:43.200 --> 0:25:45.000
<v Speaker 1>you can write off the fair market value of it.

0:25:45.520 --> 0:25:48.600
<v Speaker 1>And if you go to an auction and you pay

0:25:48.720 --> 0:25:53.440
<v Speaker 1>way more than some something's worth, you can write off

0:25:54.280 --> 0:25:56.760
<v Speaker 1>whatever you paid over and above the fair market value

0:25:56.760 --> 0:26:02.000
<v Speaker 1>of that thing. The sucker fee, I the philanthropic fee. Well,

0:26:02.040 --> 0:26:04.240
<v Speaker 1>that's nice that they give it back, like, well, you

0:26:04.320 --> 0:26:06.159
<v Speaker 1>were sorted an idiot for paying that much money, But

0:26:07.240 --> 0:26:08.720
<v Speaker 1>go give it away and we'll at least let you

0:26:08.720 --> 0:26:11.600
<v Speaker 1>write it off. Okay, you want to talk about tex

0:26:11.640 --> 0:26:16.560
<v Speaker 1>stuff now? No, Well we're about to. So, uh there

0:26:16.600 --> 0:26:20.320
<v Speaker 1>are two kinds of UM. Well, there's there's three kinds

0:26:20.480 --> 0:26:23.879
<v Speaker 1>according to the UM I R S the tax Code,

0:26:24.040 --> 0:26:27.880
<v Speaker 1>the U S tax Code. There's three designations and then

0:26:27.920 --> 0:26:30.639
<v Speaker 1>a few subdis designations which we'll get into to the letter.

0:26:30.760 --> 0:26:34.240
<v Speaker 1>It's the sexiest publication on the planet, UM the tax

0:26:34.320 --> 0:26:37.480
<v Speaker 1>code for a charitable organization, right, fifty shades of green,

0:26:37.600 --> 0:26:40.399
<v Speaker 1>that is what they should call it the most Have

0:26:40.520 --> 0:26:43.560
<v Speaker 1>you read that? Now? Emily didn't? What did she say?

0:26:44.400 --> 0:26:46.399
<v Speaker 1>She likes sweating all the time. Yeah, I mean it was.

0:26:46.440 --> 0:26:48.840
<v Speaker 1>It was pretty racy. That's crazy. She blew through the

0:26:48.880 --> 0:26:51.159
<v Speaker 1>series and you know, a couple of weeks that person

0:26:51.280 --> 0:26:53.520
<v Speaker 1>was earning like a million dollars a day or something

0:26:53.640 --> 0:26:57.399
<v Speaker 1>some crazy amount from that for weeks for writing smut.

0:26:57.840 --> 0:27:01.520
<v Speaker 1>I guess good for her. It was a lady, right, Yeah,

0:27:01.760 --> 0:27:07.520
<v Speaker 1>but she's got a man's name, Frank, no initials. That's

0:27:07.600 --> 0:27:13.399
<v Speaker 1>very mask in my opinion. J. K. Rowling sounds like

0:27:13.400 --> 0:27:17.040
<v Speaker 1>a dude. You think. I never really thought about it.

0:27:17.119 --> 0:27:20.000
<v Speaker 1>And isn't it like P. D. James? It almost sounds

0:27:20.000 --> 0:27:25.200
<v Speaker 1>like pet anyway. UM. The three tax codes, yes, So

0:27:25.359 --> 0:27:27.680
<v Speaker 1>the one that everybody's heard of, it, it's most familiar

0:27:27.720 --> 0:27:30.560
<v Speaker 1>with is the five oh one C three. You know

0:27:30.800 --> 0:27:33.120
<v Speaker 1>you've heard of a five oh one C three corporation.

0:27:33.600 --> 0:27:35.600
<v Speaker 1>Don't pretend like you haven't, Like you're too cool to

0:27:35.680 --> 0:27:38.000
<v Speaker 1>know about. There's the three, four, and five. Your favorite,

0:27:38.000 --> 0:27:40.040
<v Speaker 1>I guess is the three. So the five one three,

0:27:40.080 --> 0:27:44.440
<v Speaker 1>that's the Yeah, that's the that's the money organization. That's

0:27:44.480 --> 0:27:46.720
<v Speaker 1>the one that's like, UM, it covers that. Let's see

0:27:46.920 --> 0:27:50.840
<v Speaker 1>prevention of cruelty to children or animals, those kind of organizations,

0:27:51.320 --> 0:27:57.320
<v Speaker 1>UM educational UM, charities straight up charity charities that helped

0:27:57.320 --> 0:28:02.760
<v Speaker 1>like the poor and the needy, religious charities, scientific organizations

0:28:03.000 --> 0:28:08.480
<v Speaker 1>yea yeah, um favorite ones that support national or international

0:28:08.560 --> 0:28:11.720
<v Speaker 1>amateur sports, which is pretty sweet. Yeah, you can give

0:28:11.720 --> 0:28:15.120
<v Speaker 1>like to the USK team, right if Don King's involved, though,

0:28:15.320 --> 0:28:17.800
<v Speaker 1>do not you don't look for a text deduction at

0:28:17.800 --> 0:28:23.120
<v Speaker 1>the organization. Um. And then uh testing related to public safety,

0:28:23.200 --> 0:28:27.120
<v Speaker 1>which I was trying to figure out what that would be. Yeah,

0:28:27.240 --> 0:28:31.000
<v Speaker 1>I don't know. Maybe an organization that goes around sitting

0:28:31.000 --> 0:28:35.040
<v Speaker 1>off incendiary devices and fallout shelters to see if they

0:28:35.080 --> 0:28:38.000
<v Speaker 1>hold up. Yeah, I'm not sure. I was gonna say,

0:28:38.040 --> 0:28:39.800
<v Speaker 1>like auto safety, but it seems like that would be

0:28:39.880 --> 0:28:47.000
<v Speaker 1>the auto companies privately doing that. There are like the um, yeah,

0:28:47.040 --> 0:28:50.640
<v Speaker 1>there are, That's what it is. So anyway, um, all

0:28:50.680 --> 0:28:53.040
<v Speaker 1>of those except for the public safety one you can

0:28:53.080 --> 0:28:58.640
<v Speaker 1>write off like without thinking twice without prejudice. Yeah yeah right, Um,

0:28:58.960 --> 0:29:04.720
<v Speaker 1>unless these any that that is a not for profit

0:29:04.800 --> 0:29:09.520
<v Speaker 1>or nonprofit corporation that's overseas, yes, and it means that

0:29:09.560 --> 0:29:13.000
<v Speaker 1>they're based overseas, uh not necessarily that they do most

0:29:13.000 --> 0:29:16.440
<v Speaker 1>of their work overseas, right, that's where they're they're incorporated

0:29:16.560 --> 0:29:19.600
<v Speaker 1>is overseas. Yeah, because COED for instance, that's why I

0:29:19.600 --> 0:29:21.640
<v Speaker 1>mentioned it. They are based out of Cincinnati, even though

0:29:21.680 --> 0:29:23.880
<v Speaker 1>the work they do is usually in Guatemala. Right, that's

0:29:23.880 --> 0:29:27.000
<v Speaker 1>an excellent point. Yeah. Um, so that's the five oh

0:29:27.000 --> 0:29:31.080
<v Speaker 1>one C three. You've got public charity, UM, you've got

0:29:31.120 --> 0:29:34.120
<v Speaker 1>the private foundation. And a private foundation is UM. It

0:29:34.160 --> 0:29:38.920
<v Speaker 1>gets its income from investments, endowments, and then it's basically

0:29:38.920 --> 0:29:42.000
<v Speaker 1>a charity for other charities yea. Then grants that to

0:29:42.640 --> 0:29:44.720
<v Speaker 1>whoever they see fit, right. And that's a good one

0:29:44.760 --> 0:29:48.040
<v Speaker 1>to invest in UM because they are they usually know

0:29:48.120 --> 0:29:51.480
<v Speaker 1>exactly what they're doing more than you you know, and

0:29:51.520 --> 0:29:54.360
<v Speaker 1>they're like their whole their work is charity, so like

0:29:54.400 --> 0:29:56.760
<v Speaker 1>they're looking for up and coming ones once they're doing

0:29:56.760 --> 0:29:59.880
<v Speaker 1>really great work, that kind of stuff. What's well Mann

0:30:00.560 --> 0:30:02.400
<v Speaker 1>that kind of thing. Uh. And then you have a

0:30:02.440 --> 0:30:07.400
<v Speaker 1>private operating foundation, right, Yeah, and they donate to directly

0:30:07.440 --> 0:30:11.560
<v Speaker 1>to the causes UM instead of granting uh grants to

0:30:11.600 --> 0:30:15.240
<v Speaker 1>other charities. The private foundation. If you give to one

0:30:15.240 --> 0:30:18.280
<v Speaker 1>of those, you may not necessarily be able to deduct it,

0:30:18.680 --> 0:30:22.920
<v Speaker 1>but a public charity or a private operating foundation, most

0:30:22.960 --> 0:30:25.400
<v Speaker 1>of the time you'll you'll get the full deduction. I

0:30:25.480 --> 0:30:28.920
<v Speaker 1>think that's up to about fifty of your adjusted gross income.

0:30:29.280 --> 0:30:34.120
<v Speaker 1>So if you make fifty dollars and you donate five thousand,

0:30:34.800 --> 0:30:38.080
<v Speaker 1>you can write that off. It'll take that right away.

0:30:38.680 --> 0:30:42.400
<v Speaker 1>That's that's a pretty good tax strategy. It is incorporations

0:30:42.440 --> 0:30:47.240
<v Speaker 1>can um are allowed to deduct all contributions up to

0:30:47.520 --> 0:30:51.880
<v Speaker 1>usually about ten percent of their taxable income, which that's

0:30:52.080 --> 0:30:53.880
<v Speaker 1>where it ends. But I mean, think about it. What

0:30:53.960 --> 0:30:57.640
<v Speaker 1>about corporations that like have zero taxable income, like because

0:30:57.640 --> 0:31:01.880
<v Speaker 1>of their fancy accounting like to they donate at all?

0:31:01.920 --> 0:31:05.120
<v Speaker 1>I don't know. I have a big question about that.

0:31:05.200 --> 0:31:07.320
<v Speaker 1>And that was quite cynical there, and I don't like cynicism.

0:31:07.320 --> 0:31:09.440
<v Speaker 1>I said, that's probably where they stopped donating, is when

0:31:09.440 --> 0:31:14.000
<v Speaker 1>they reach that threshold. Not necessarily true, but you know,

0:31:15.120 --> 0:31:19.800
<v Speaker 1>maybe this well, you know, the the text the deductible

0:31:20.240 --> 0:31:24.440
<v Speaker 1>charitable contributions as it stands now is kind of under

0:31:24.440 --> 0:31:28.720
<v Speaker 1>threat actually because the Bush tax cuts are going to expire.

0:31:28.920 --> 0:31:34.239
<v Speaker 1>Possibly if the Bush tax cuts expire, then um for

0:31:34.360 --> 0:31:39.080
<v Speaker 1>the for those highest income brackets, they'll lose about eight

0:31:39.280 --> 0:31:44.920
<v Speaker 1>percent of their UM deduction abilities, which I would think

0:31:44.960 --> 0:31:48.400
<v Speaker 1>would show a pretty steep drop in charitable giving in

0:31:48.440 --> 0:31:51.080
<v Speaker 1>that tax bracket. Yeah, and even though it's only five

0:31:51.560 --> 0:31:54.440
<v Speaker 1>that's you know, still how much was it? Like fourteen

0:31:54.440 --> 0:31:58.080
<v Speaker 1>billion dollars? And then Obama has a proposal that I

0:31:58.120 --> 0:31:59.920
<v Speaker 1>don't know if it's going anywhere or not to basically

0:32:00.120 --> 0:32:03.880
<v Speaker 1>like set of your adjusted gross income is the maximum

0:32:03.920 --> 0:32:08.360
<v Speaker 1>you can deduct for higher income tax brackets. Yeah. I

0:32:08.360 --> 0:32:10.520
<v Speaker 1>don't know if it will go anywhere though, but we

0:32:10.600 --> 0:32:15.400
<v Speaker 1>may see charities like really getting hurt in the future.

0:32:15.760 --> 0:32:21.080
<v Speaker 1>I'm so ambivalent right now, you're not You're angry behind

0:32:21.120 --> 0:32:24.360
<v Speaker 1>the ambivalence. What about the C four Oh boy, the

0:32:24.360 --> 0:32:30.240
<v Speaker 1>C four that that covers um that covers organizations that

0:32:30.360 --> 0:32:35.880
<v Speaker 1>lobby on behalf of specific causes like social welfare and

0:32:35.880 --> 0:32:39.600
<v Speaker 1>stuff like that. Uh yeah, so remember, um, there was

0:32:39.640 --> 0:32:42.960
<v Speaker 1>a big how about but I can't remember. I couldn't

0:32:43.000 --> 0:32:44.800
<v Speaker 1>remember it before and I can't remember it now. It

0:32:44.840 --> 0:32:47.200
<v Speaker 1>was a lobbying group that had five oh one C

0:32:47.400 --> 0:32:53.520
<v Speaker 1>three status. No, but yeah, but it was they were

0:32:53.600 --> 0:32:57.320
<v Speaker 1>lobbying from behalf of social values. Remember McDonald's got called

0:32:57.320 --> 0:33:00.200
<v Speaker 1>out and like left, like all these huge corporation is

0:33:00.240 --> 0:33:02.720
<v Speaker 1>like left this lobbying group. It was like a chamber

0:33:02.760 --> 0:33:06.560
<v Speaker 1>of commerce, arm and somehow they have five three status.

0:33:06.640 --> 0:33:08.640
<v Speaker 1>It was a big call for them to to go

0:33:08.720 --> 0:33:12.800
<v Speaker 1>back or to be forced into which would mean a

0:33:12.840 --> 0:33:16.360
<v Speaker 1>lot they'd have to pay taxes. That also will include

0:33:16.400 --> 0:33:19.560
<v Speaker 1>volunteer fire departments, which I thought was interesting, and civic

0:33:19.640 --> 0:33:24.840
<v Speaker 1>organizations and they are not deductible at charitable donations UM

0:33:24.920 --> 0:33:29.240
<v Speaker 1>to the C fours except for volunteer fire departments and

0:33:29.480 --> 0:33:32.800
<v Speaker 1>UM Veterans Organization. Yeah, exactly, So I guess you up

0:33:32.840 --> 0:33:36.200
<v Speaker 1>to the v A or the vf W v W

0:33:36.560 --> 0:33:40.440
<v Speaker 1>or the American Legion, maybe even the not the French

0:33:40.480 --> 0:33:43.840
<v Speaker 1>Foreign Legion though they're overseas. That's right. The C six, Josh,

0:33:44.040 --> 0:33:47.120
<v Speaker 1>the C six, that's that's actually I guess it should

0:33:47.120 --> 0:33:50.240
<v Speaker 1>be that that UM organ that lobbying group shouldn't be

0:33:50.280 --> 0:33:52.080
<v Speaker 1>a five on three. It should be a C six

0:33:52.160 --> 0:33:59.040
<v Speaker 1>because this covers trade associations and boards, chambers of commerce, UM,

0:33:59.320 --> 0:34:02.960
<v Speaker 1>real estate. Yeah, we can't forget those, and you can't

0:34:02.960 --> 0:34:07.160
<v Speaker 1>deduct any or any gifts to those as well. Basically

0:34:07.200 --> 0:34:09.200
<v Speaker 1>just five one three. And you want to make sure

0:34:09.200 --> 0:34:12.280
<v Speaker 1>it's not a private foundation and that's a private operating

0:34:12.320 --> 0:34:15.319
<v Speaker 1>and that's if you're donating money. But we mentioned you

0:34:15.320 --> 0:34:19.399
<v Speaker 1>can donate your time is a volunteer, which I think

0:34:19.440 --> 0:34:21.520
<v Speaker 1>it's kind of a neat way to go about it

0:34:21.600 --> 0:34:25.279
<v Speaker 1>if you're into like, you know, grassroots, hitting the ground,

0:34:25.360 --> 0:34:29.479
<v Speaker 1>getting your hands dirty. Um. They have figured out that

0:34:30.120 --> 0:34:32.279
<v Speaker 1>actually this article is I don't know, I'm sorry, I

0:34:32.320 --> 0:34:34.400
<v Speaker 1>have a new staff for that. They have figured out

0:34:34.480 --> 0:34:37.400
<v Speaker 1>that it is. UH. An estimated dollar value of volunteering

0:34:37.440 --> 0:34:43.120
<v Speaker 1>time is twenty eight an hour in two thousand nine. Wow,

0:34:43.200 --> 0:34:45.640
<v Speaker 1>that's great. And so in two thousand nine, the volunteer

0:34:45.680 --> 0:34:49.719
<v Speaker 1>time totaled about hundred and sixty nine billion dollars. I

0:34:49.800 --> 0:34:52.080
<v Speaker 1>wonder how much of that has wasted though, because there

0:34:52.080 --> 0:34:57.440
<v Speaker 1>in this article they cite ups Survey UPS Foundation. UM.

0:34:57.480 --> 0:35:01.319
<v Speaker 1>That was taken its back, but at the time they

0:35:01.320 --> 0:35:05.879
<v Speaker 1>found that like volunteers said that they stopped volunteering because

0:35:05.920 --> 0:35:09.000
<v Speaker 1>they felt that their time was wasted volunteering. Yeah. I

0:35:09.000 --> 0:35:12.200
<v Speaker 1>have had experience like that, UM, and I get it,

0:35:12.239 --> 0:35:13.719
<v Speaker 1>you know, because if you don't have a lot of time,

0:35:13.760 --> 0:35:16.040
<v Speaker 1>you're like, I want to give my time, you want

0:35:16.040 --> 0:35:18.600
<v Speaker 1>to have it be used. And I don't want to

0:35:18.640 --> 0:35:21.160
<v Speaker 1>call out who this was, but it was a group

0:35:21.200 --> 0:35:25.040
<v Speaker 1>in town. Volunteer showed up and like they didn't know

0:35:25.080 --> 0:35:26.920
<v Speaker 1>what to do with me, and I did it a

0:35:26.920 --> 0:35:28.279
<v Speaker 1>couple of times. They didn't know what to do with

0:35:28.280 --> 0:35:30.680
<v Speaker 1>me until Vince I was like, you know, I'm not

0:35:30.719 --> 0:35:33.560
<v Speaker 1>going to come back like sit around here. I'm gonna

0:35:33.600 --> 0:35:35.400
<v Speaker 1>go find somewhere else or maybe you should get your

0:35:35.440 --> 0:35:38.240
<v Speaker 1>act together a little bit more. Um. But it's tough,

0:35:38.239 --> 0:35:40.399
<v Speaker 1>you know. I mean, it's easy to criticize, it's tough

0:35:40.440 --> 0:35:45.560
<v Speaker 1>to manage volunteers. It's one of the most difficult I

0:35:45.600 --> 0:35:47.000
<v Speaker 1>think it said in the article one of the most

0:35:47.000 --> 0:35:51.480
<v Speaker 1>difficult parts of running one a nonprofit is is managing

0:35:51.560 --> 0:35:54.279
<v Speaker 1>and maintaining your volunteers because they Walton brand new and

0:35:54.280 --> 0:35:56.040
<v Speaker 1>I'm sure they want to be the one doling out soup,

0:35:56.719 --> 0:35:59.000
<v Speaker 1>you know, where we really need someone to lift those

0:35:59.040 --> 0:36:03.360
<v Speaker 1>boxes in the back um, which is unglamorous. It's unglamorous,

0:36:03.400 --> 0:36:04.640
<v Speaker 1>and so it's probably not the easiest thing in the

0:36:04.680 --> 0:36:07.279
<v Speaker 1>world to manage expectations and what they're supposed to be

0:36:07.360 --> 0:36:12.160
<v Speaker 1>doing and training and the like. You know, I got

0:36:12.200 --> 0:36:18.040
<v Speaker 1>some stats. Sixty of households give the charity UM average

0:36:18.040 --> 0:36:24.360
<v Speaker 1>household contribution two thousand, two hundred and thirteen UM. Majority

0:36:24.400 --> 0:36:29.640
<v Speaker 1>of charitable dollars went to religion, education percent, grant making,

0:36:29.719 --> 0:36:34.359
<v Speaker 1>nine percent, human services. It just says percent. They're like

0:36:34.480 --> 0:36:37.880
<v Speaker 1>making electricity with bodies. Yeah, I think that's exactly what

0:36:37.920 --> 0:36:41.720
<v Speaker 1>it is. Um. Ninety eight percent of high net households

0:36:41.920 --> 0:36:45.960
<v Speaker 1>give the charity, which is great, um and beneficial for

0:36:46.000 --> 0:36:49.040
<v Speaker 1>your tax status. I'm not saying it's why, but you

0:36:49.080 --> 0:36:52.239
<v Speaker 1>know it's good that that's there at least. And then

0:36:52.520 --> 0:36:57.680
<v Speaker 1>um six percent of people volunteer and those and religion

0:36:57.760 --> 0:37:03.120
<v Speaker 1>leads away again at which leads us to did you

0:37:03.120 --> 0:37:06.040
<v Speaker 1>read the article? I skimmed it. Yeah, let's hear what

0:37:06.120 --> 0:37:10.160
<v Speaker 1>you got to say. Well, Mitt Romney was criticized recently

0:37:10.200 --> 0:37:13.160
<v Speaker 1>because and this is criticism by Bill Maher, so take

0:37:13.200 --> 0:37:17.080
<v Speaker 1>it with a grain of salt. Um. But he counted

0:37:17.120 --> 0:37:22.080
<v Speaker 1>sixteen point five percent of his income his charitable donations, uh,

0:37:22.280 --> 0:37:25.000
<v Speaker 1>a lot of which went to the Mormon Church. So

0:37:25.120 --> 0:37:28.879
<v Speaker 1>that brings up an important thing tithing. If you are

0:37:29.080 --> 0:37:31.879
<v Speaker 1>a believer of the Bible, you were supposed to tie

0:37:32.760 --> 0:37:35.800
<v Speaker 1>off the top. It's off the top, is it? According

0:37:35.840 --> 0:37:39.920
<v Speaker 1>to the Reverend Wealth Joy? Okay, and UM, you can

0:37:39.960 --> 0:37:41.759
<v Speaker 1>write that off, which I didn't under I didn't know

0:37:41.800 --> 0:37:45.959
<v Speaker 1>that until today. I didn't either. Um, so Bill Maher

0:37:46.160 --> 0:37:50.239
<v Speaker 1>says that, you know, some churches and like these well

0:37:50.280 --> 0:37:54.319
<v Speaker 1>to do organizations like symphony orchestras, colleges and universities with

0:37:54.400 --> 0:37:57.680
<v Speaker 1>large endowments shouldn't count as charities any longer. So he's

0:37:57.719 --> 0:38:02.520
<v Speaker 1>kind of slinging some harsh words there. Um, but that

0:38:02.600 --> 0:38:04.760
<v Speaker 1>sort of says that the only people who can benefit

0:38:04.800 --> 0:38:07.560
<v Speaker 1>from charity or the poor. And that's just not necessarily

0:38:07.600 --> 0:38:10.520
<v Speaker 1>the case, because then you've got like hospitals and libraries

0:38:10.520 --> 0:38:15.239
<v Speaker 1>and museums and these other things. Um, animal organizations. Uh,

0:38:15.560 --> 0:38:17.840
<v Speaker 1>that would be thrown out under the Bill Maar model.

0:38:18.680 --> 0:38:21.719
<v Speaker 1>You know. Well, I mean all you need to do

0:38:21.800 --> 0:38:24.480
<v Speaker 1>is inject a little capitalism, like make the Humane Society

0:38:24.480 --> 0:38:29.000
<v Speaker 1>in the SPC a really kind of compete for money. Yeah,

0:38:29.400 --> 0:38:33.880
<v Speaker 1>the one left standing is the one that gets to survive. Um.

0:38:33.920 --> 0:38:36.200
<v Speaker 1>And uh, they did a study on church budgets and

0:38:36.200 --> 0:38:40.040
<v Speaker 1>two thousands, so this is not super updated. UM and

0:38:40.440 --> 0:38:43.279
<v Speaker 1>Christian Today did this and found that an average church

0:38:43.360 --> 0:38:51.359
<v Speaker 1>budget is about two dollars went to staff compensation for facilities,

0:38:51.719 --> 0:38:56.719
<v Speaker 1>sixtent for missions, nine percent for church programs, six for

0:38:56.800 --> 0:39:00.759
<v Speaker 1>admin and supplies, three percent for denominational fees, and three

0:39:01.200 --> 0:39:05.680
<v Speaker 1>for other handling handling fees, and uh, one of the

0:39:05.719 --> 0:39:08.200
<v Speaker 1>things that how much was that? How much of that

0:39:08.440 --> 0:39:12.359
<v Speaker 1>we really want to charity? Well, that's the thing though,

0:39:12.400 --> 0:39:15.040
<v Speaker 1>the church itself qualifies as a charity with its non

0:39:15.040 --> 0:39:19.320
<v Speaker 1>exempt status. So like I guess the six percent for

0:39:19.400 --> 0:39:22.839
<v Speaker 1>mission work would be charity, nine percent for church programs,

0:39:22.880 --> 0:39:25.279
<v Speaker 1>A lot of that could be charity. But one of

0:39:25.280 --> 0:39:28.800
<v Speaker 1>the issues is that, but is that also like the

0:39:28.880 --> 0:39:31.400
<v Speaker 1>music program. Well, that's what I'm saying. That's one of

0:39:31.440 --> 0:39:36.560
<v Speaker 1>the issues with with considering churches charities. And this is

0:39:36.600 --> 0:39:40.279
<v Speaker 1>written by a Christian organization saying that churches need to

0:39:40.280 --> 0:39:44.520
<v Speaker 1>get better about um connecting the giving to the outcome

0:39:45.280 --> 0:39:47.960
<v Speaker 1>because people like knowing like the literal outcome of where

0:39:47.960 --> 0:39:50.759
<v Speaker 1>I'm giving my money, whereas churches apparently are not very

0:39:50.760 --> 0:39:53.000
<v Speaker 1>good at tying that together. And it's really just like

0:39:53.280 --> 0:39:56.319
<v Speaker 1>it's your tithe it's just for everything, instead of it's

0:39:56.360 --> 0:39:59.440
<v Speaker 1>for this program, in this program, it's used in this way.

0:40:00.120 --> 0:40:03.200
<v Speaker 1>So you know the solution to that, what's that? Charging

0:40:03.239 --> 0:40:08.560
<v Speaker 1>admission to church? If you want to know more about

0:40:08.600 --> 0:40:12.000
<v Speaker 1>philanthropy or philanthropy, if you say things like a weirdo,

0:40:12.239 --> 0:40:14.319
<v Speaker 1>you can type that word into the search bar at

0:40:14.360 --> 0:40:17.400
<v Speaker 1>how stuff Works dot com. P h I L A

0:40:17.640 --> 0:40:21.480
<v Speaker 1>N T h R O p y philanthropy uh and

0:40:21.560 --> 0:40:23.440
<v Speaker 1>I say a handy search bar or search bar or

0:40:23.440 --> 0:40:25.600
<v Speaker 1>something like that, which means it's time for listener mayo

0:40:27.719 --> 0:40:30.879
<v Speaker 1>uh and live listener mail today. Oh goodness, since we're

0:40:31.000 --> 0:40:35.680
<v Speaker 1>covering philanthropy, we're gonna support co ED because we haven't

0:40:35.680 --> 0:40:38.000
<v Speaker 1>done it in a while. Okay, awesome, you want to

0:40:38.040 --> 0:40:40.880
<v Speaker 1>tell them about the organization, Josh. For those of you

0:40:40.920 --> 0:40:43.479
<v Speaker 1>who don't know, you can go back into the deep

0:40:43.640 --> 0:40:47.640
<v Speaker 1>archives and find our Guatemala Adventure Part one and two.

0:40:47.920 --> 0:40:49.799
<v Speaker 1>It's the I think one and only time you can

0:40:49.840 --> 0:40:53.319
<v Speaker 1>clearly here Jerry speaking. But we went to Guatemala to

0:40:53.440 --> 0:40:56.480
<v Speaker 1>see firsthand with the Cooperative for Education does. And what

0:40:56.560 --> 0:40:59.720
<v Speaker 1>they do is they take money UM from different donors,

0:41:00.040 --> 0:41:03.000
<v Speaker 1>basically pile it all together and buy enough books for

0:41:03.040 --> 0:41:06.840
<v Speaker 1>a class in Guatemala. Then those kids pay rent on

0:41:06.880 --> 0:41:09.040
<v Speaker 1>those books something that's affordable. It's like two bucks a

0:41:09.120 --> 0:41:13.040
<v Speaker 1>year or something like that UM that the average Guatemala

0:41:13.120 --> 0:41:16.279
<v Speaker 1>and family can afford fairly easily, and that goes into

0:41:16.400 --> 0:41:19.160
<v Speaker 1>pool helping nes grow. And then at the end of

0:41:19.200 --> 0:41:20.640
<v Speaker 1>that year or a couple of years or a few

0:41:20.719 --> 0:41:23.880
<v Speaker 1>years when the books are worn out, that that school

0:41:24.080 --> 0:41:26.160
<v Speaker 1>has the money to replace them. So it's a self

0:41:26.200 --> 0:41:30.439
<v Speaker 1>sustaining model. Um And basically you can help a kid

0:41:30.719 --> 0:41:33.719
<v Speaker 1>get out of poverty by getting an education where otherwise

0:41:34.120 --> 0:41:36.800
<v Speaker 1>they would be working in the field and making tortillas,

0:41:36.840 --> 0:41:40.160
<v Speaker 1>which we found out they do in addition to going

0:41:40.200 --> 0:41:43.799
<v Speaker 1>to school normally. So they do great work. We've seen

0:41:43.800 --> 0:41:47.399
<v Speaker 1>it firsthand. We stand very firmly behind this this organization. Yeah,

0:41:47.400 --> 0:41:50.040
<v Speaker 1>and not only they have a book program, any computer

0:41:50.120 --> 0:41:52.120
<v Speaker 1>lab program, so some of your money can go to

0:41:52.160 --> 0:41:55.719
<v Speaker 1>computer labs and and getting these kids not only computers,

0:41:55.760 --> 0:41:59.239
<v Speaker 1>but training, which it's the same model. It's just what

0:41:59.400 --> 0:42:02.839
<v Speaker 1>rather than like set a book, that's like a computer lab. Yeah, yeah,

0:42:03.040 --> 0:42:05.399
<v Speaker 1>pretty cool. Yeah, I mean stuff these kids have never

0:42:05.440 --> 0:42:07.600
<v Speaker 1>seen before, and they're and they're learning how to use computers,

0:42:07.640 --> 0:42:10.759
<v Speaker 1>getting better jobs. It's good stuff. Yeah. All right, So

0:42:10.800 --> 0:42:14.600
<v Speaker 1>you can visit uh Cooperative for Education dot org and

0:42:14.600 --> 0:42:16.800
<v Speaker 1>that's different from their old website. So go to Cooperative

0:42:16.800 --> 0:42:19.000
<v Speaker 1>for Education dot org and you can there's a donate

0:42:19.040 --> 0:42:22.120
<v Speaker 1>now button at the top right of the screen, or

0:42:22.160 --> 0:42:24.080
<v Speaker 1>if you want to go down there, you can go

0:42:24.080 --> 0:42:27.080
<v Speaker 1>on one of the tours. Tours, we've had some listeners

0:42:27.120 --> 0:42:31.600
<v Speaker 1>go yeah, um, Guatemala got under Jerry's skin. She she

0:42:31.719 --> 0:42:35.600
<v Speaker 1>became very very much involved with the co ED after

0:42:35.640 --> 0:42:38.080
<v Speaker 1>that first tripman returned several times and when she went,

0:42:38.160 --> 0:42:40.200
<v Speaker 1>she would go and there'd be stuff you should know,

0:42:40.239 --> 0:42:42.960
<v Speaker 1>listeners that went because they listened to the Guatemalan adventures.

0:42:43.040 --> 0:42:47.000
<v Speaker 1>That's right, um, and they for you can go February

0:42:47.080 --> 0:42:50.560
<v Speaker 1>nine or August six through eleventh to the Land of

0:42:50.560 --> 0:42:55.600
<v Speaker 1>Eternal Spring and you will not regret it. And again,

0:42:55.800 --> 0:43:00.799
<v Speaker 1>what's the website again? Cooperative for Education dot org. Okay, cool? Yeah,

0:43:01.200 --> 0:43:04.040
<v Speaker 1>go give your money is well spent there check out

0:43:04.080 --> 0:43:10.600
<v Speaker 1>their form. Yeah, or volunteer or help somebody, help help

0:43:10.640 --> 0:43:15.200
<v Speaker 1>a panhandler out who knows. Just be philanthropic not misanthropic. Right,

0:43:15.360 --> 0:43:17.520
<v Speaker 1>we need a T shirt that says that, I bet

0:43:17.520 --> 0:43:20.960
<v Speaker 1>there's one out there and hey chuck. Yeah, let's just

0:43:21.000 --> 0:43:24.200
<v Speaker 1>take this moment to wish everyone a happy Thanksgiving. Seriously,

0:43:24.840 --> 0:43:27.200
<v Speaker 1>I don't know if you have traditions like sitting around

0:43:27.239 --> 0:43:30.400
<v Speaker 1>the table and like telling each other what you're thankful for.

0:43:31.719 --> 0:43:35.080
<v Speaker 1>I like doing that. Maybe you don't even have family, yeah,

0:43:35.200 --> 0:43:37.879
<v Speaker 1>maybe you have no one in the world. Surely there's

0:43:37.920 --> 0:43:41.839
<v Speaker 1>something for you to be thankful for that. Yeah, dig

0:43:42.440 --> 0:43:50.520
<v Speaker 1>digne people, I'm thankful for that wall in that carpet square. Deep,

0:43:50.840 --> 0:43:56.600
<v Speaker 1>that's awful. Deep. Are you ready so after Chuck's speel

0:43:57.440 --> 0:44:01.240
<v Speaker 1>Uh yeah, whatever your tradition is, we hope you're safe

0:44:01.360 --> 0:44:05.480
<v Speaker 1>and toasty and happy and you have the warmth of

0:44:05.560 --> 0:44:10.840
<v Speaker 1>the Great Turkey in your spirit. That's good. Thanks. We

0:44:10.840 --> 0:44:13.399
<v Speaker 1>should make that our sign off every year for Thanksgiving. Well,

0:44:13.440 --> 0:44:16.120
<v Speaker 1>maybe we will, the great, great Warmth of the Turkey spirit,

0:44:16.719 --> 0:44:19.480
<v Speaker 1>the great the warmth of the Great Turkey in your

0:44:19.560 --> 0:44:22.520
<v Speaker 1>spirit or something like that. It could use a little

0:44:22.520 --> 0:44:25.960
<v Speaker 1>tinkering before we trade market. Agreed, let's get to work

0:44:25.960 --> 0:44:31.080
<v Speaker 1>on that. Okay. Well until then, Happy Thanksgiving everyone, be safe. Uh.

0:44:31.200 --> 0:44:32.520
<v Speaker 1>If you want to get in touch with us to

0:44:32.560 --> 0:44:36.000
<v Speaker 1>wish us Thanksgiving tidings, even if you're from Canada, which

0:44:36.440 --> 0:44:41.919
<v Speaker 1>celebrates Thanksgiving us some preposterously early time, right, We'll still

0:44:41.960 --> 0:44:45.319
<v Speaker 1>accept your tweets at s Y s K podcast, say

0:44:45.360 --> 0:44:48.359
<v Speaker 1>hi on Facebook, Facebook dot com, slash stuff you Should Know,

0:44:48.680 --> 0:44:51.920
<v Speaker 1>and as always, you can send us in electronic mail

0:44:52.320 --> 0:45:03.799
<v Speaker 1>to Stuff podcast at Discovery dot com for more on

0:45:03.840 --> 0:45:06.560
<v Speaker 1>this and thousands of other topics, visit how stuff Works

0:45:06.600 --> 0:45:10.400
<v Speaker 1>dot com, m