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What do you think of this? Charity idea.

Haven

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Here's how it would work:

PEARLS for PAWS
(or some other name, just playing around with words here.)
1. People donate jewelry they don't wear to participating jewelers. (Jewelers who sell "estate" pieces)
2. The jewelers then donate the amount they expect each piece to bring in to an animal rescue group.
3. Animal rescue groups get much-needed funding they wouldn't otherwise receive, and we save some furry lives!

So many of us have pieces sitting in our jewelry boxes with no hope of being worn. We hold on to some of those items because we know we'll never be able to get anywhere near what they're worth on the secondary market, so it's just easier to keep them than to sell them. BUT, for animal lovers out there, knowing that they could turn the full retail value of those pieces into donations supporting animals, then maybe that's the incentive people need to let go of some pieces.

Participating jewelers lose no money in the transaction. They earn brownie points, good will, and exposure for donating the value of the items. They can make that money back once they sell the items they took in.

This could be a way to support animal rescue groups without actually having people shell out any cash. It's so much easier to part with items we own but never use than it is to part with actual money. I have so many silver Tiffany pieces I never wear, and never will wear, but I'm not interested in selling them for a small percentage of what they could earn if resold by a jeweler.

What do you think?

My jeweler hosts a 5K and gives all proceeds to the Make-a-Wish Foundation. There must be jewelers who are animal lovers out there.
 

Dee*Jay

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So, is this how it would work...

I have piece that I decide is "worth" $5,000. I turn it over to a jewler who will give $5,000 to the charity, and then that jeweler sells the piece for whatever he/she can get for it. I get to take a $5,000 tax deduction and the jeweler gets to take a deduction for the difference between the $5,000 and whatever the piece actually sells for.

Is that right?

ETA: Wait--that can't be right. Because then there would be some level of double counting on the deduction. Hmmm. I'm obviously missing something. Maybe many somethings...
 

Haven

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I think the jeweler would have to decide what the piece would bring in when he resells it, not you. I also think it would be best if jewelers do the donating, not the people giving their jeweler. So you would just end up donating the piece to the jeweler and the jeweler would donate the money to the charity.

OR, jewelers could house the items and donate the money once they actually sell the piece, so they could skip the whole appraisal part. That might make more sense.
 

Haven

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Dee*Jay--I think you're asking questions about how this would play out on our taxes. I'm not really thinking at that detailed of a level yet--tax paperwork--still thinking big picture concept here since it's just an idea I've been throwing around in my head for a couple days. However, I'm guessing that when you donate the item (or once the jeweler sells it) then you would get a receipt stating that you donated $XXX (similar to what I get whenever I donate to any other charity.) I'm guessing there would probably have to be a system where the jeweler submits the money donation but does so in the donator's name, not his own.

The jewelers wouldn't get the tax break, they would be donating their time. OR, I suppose once the item becomes a monetary amount, there could be a split where the donator gets credit for a certain percentage, and the jeweler gets credit for donating another percentage. That way it wouldn't be counted for twice.

I don't know. If I pursue this I'll call my accountant for guidance where this is concerned.
 

sonnyjane

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I quite like the idea. It's not unlike the program that PBS has where people trade in their old cars, write them off, and PBS gets the profits of the sale or scrap. The only difference is that in your case, the jeweler acts as the middle man.
 

Haven

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You're right, SonnyJane. I should look into how that works.

The jewelers are so important here because they can sell pieces, even used, for so much more than we can sell them on the secondary market. Dee*Jay's questions made me wonder if the jewelers should get a percentage of the donation credit for their involvement, especially if they offer the same services to the people who buy these pieces as they do to other customers. (I'm assuming they would, since this is part of the reason so many are willing to pay more when buying from a jeweler.) Hmmm . . . so many things to think about. OR, they could take a certain percentage of the sale for themselves, and the donator could get the credit for the rest.

I'm also wondering if others might be as willing to part with unused pieces as I am. I have a problem with purging things I don't use without second thought. After living with my husband I've realized this is *not* something that everyone does quite so willingly. :cheeky:

I'm going to call my jeweler this week and see what he thinks about it.
 

sonnyjane

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Ohh hmm, definitely talk to a pro. It would get complicated since to write it off, it has to be a not-for-profit. Giving jewelry to a jeweler wouldn't fulfill that. I think the jeweler would have to either establish their "charity", OR, the person donating would have to give the jewelry to the shelter and then the shelter would have to deal with the jeweler to sell it. That's if the person donating wants a tax deduction. If the donors don't care about that, then you wouldn't need to go through hoops.
 

Haven

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These are details we'd definitely need to iron out. Good things to think about. I'm sure there's a way to make it all kosher, legally, whether that means creating a non-profit or just working directly with one already established, I have no clue.

I'm just unsure if this is even something people would consider doing in the first place. Does everyone have a piece or two they could part with in the name of charity? Or is this a ridiculous thing to even consider?
 

justginger

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I think you're in the right place to raise an idea like this! It might be difficult to get members of the general population to fork over their precious jewels, as they don't understand that they'll never recognize a significant amount of the inflated appraisal values if they wanted to resell. :rolleyes:

The tax status of the whole deal means squat to me, personally. It is nearly impossible to get tax write-offs in Australia, unless you are donating to a major organization, such as MSF or World Vision. I remember my parents getting credit for donating clothes and books to charity when I was growing up...no such benefit in Australia.

I'd happily send off an engagement ring from a previous relationship, for donation purposes. I'd never get more than $500 for it myself, but a jeweler could probably resell it for $1500. We already spend quite a bit on our rescue organization, but are happy to spread the wealth around. :))
 

Jennifer W

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Maybe check out what's already in place before deciding if you want to go ahead and set up a new scheme? I have donated jewellery items directly to the charity I support, Cancer Research. They have a network of stores in the UK, as well as online sales and they can sell these items directly. Because they are a big charity, they seem to be able to draw on expert help with valuations when they need it (not sure how, but they do). I also gave them a piano last week, and they called me with a valuation after they'd collected it, and told me what they expected it to fetch. I think a lot of charities are already able to make the most of higher value items, so it might be worth asking around the ones you're interested in supporting to see if they have a process for dealing with that type of donation?

Good luck!

edited to make some sense - it's still am here, and I'm not awake yet. I will confess, I just followed my regular morning routine and placed my coffee mug on top of the piano for a moment, to open a window, and well, I donated that piano last week so now I need to scrub the carpet where it used to stand...
 

packrat

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Haven, I think it's a lovely idea! Much smarter than my plan to win the lottery and open a shelter.. :rodent:
 

missy

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missy

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packrat|1344764685|3250065 said:
Haven, I think it's a lovely idea! Much smarter than my plan to win the lottery and open a shelter.. :rodent:

Hey, that's my plan! :cheeky:
Except I would model it the way of "Peace Plantation". Where the animals roam free and safe with lots of land. :appl:
 

packrat

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missy|1344768567|3250077 said:
packrat|1344764685|3250065 said:
Haven, I think it's a lovely idea! Much smarter than my plan to win the lottery and open a shelter.. :rodent:

Hey, that's my plan! :cheeky:
Except I would model it the way of "Peace Plantation". Where the animals roam free and safe with lots of land. :appl:

Great minds! I've never heard of that, I'll have to look it up. I'd envisioned huge like, Morton buildings w/places to sleep/eat etc, and lots of cat perches on the walls and play things, places for people to come and sit and read and then the cats could come lay w/them, and screened in outside areas. And another one for the dogs, just w/out the cat perches and cat trees, and open areas to play outside w/them.

Why is it that people w/these dang good ideas that would actually *help*, never win the lottery?
 

missy

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packrat|1344770862|3250085 said:
missy|1344768567|3250077 said:
packrat|1344764685|3250065 said:
Haven, I think it's a lovely idea! Much smarter than my plan to win the lottery and open a shelter.. :rodent:

Hey, that's my plan! :cheeky:
Except I would model it the way of "Peace Plantation". Where the animals roam free and safe with lots of land. :appl:

Great minds! I've never heard of that, I'll have to look it up. I'd envisioned huge like, Morton buildings w/places to sleep/eat etc, and lots of cat perches on the walls and play things, places for people to come and sit and read and then the cats could come lay w/them, and screened in outside areas. And another one for the dogs, just w/out the cat perches and cat trees, and open areas to play outside w/them.

Why is it that people w/these dang good ideas that would actually *help*, never win the lottery?

Hi Packrat, here's a link:
http://www.nhes.org/sections/view/59

It's a wonderful place.
 

packrat

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missy|1344771097|3250087 said:
packrat|1344770862|3250085 said:
missy|1344768567|3250077 said:
packrat|1344764685|3250065 said:
Haven, I think it's a lovely idea! Much smarter than my plan to win the lottery and open a shelter.. :rodent:

Hey, that's my plan! :cheeky:
Except I would model it the way of "Peace Plantation". Where the animals roam free and safe with lots of land. :appl:

Great minds! I've never heard of that, I'll have to look it up. I'd envisioned huge like, Morton buildings w/places to sleep/eat etc, and lots of cat perches on the walls and play things, places for people to come and sit and read and then the cats could come lay w/them, and screened in outside areas. And another one for the dogs, just w/out the cat perches and cat trees, and open areas to play outside w/them.

Why is it that people w/these dang good ideas that would actually *help*, never win the lottery?

Hi Packrat, here's a link:
http://www.nhes.org/sections/view/59

It's a wonderful place.

Thanks for the link, Missy. That does look like a wonderful place! I see they have other animals besides cats/dogs..it reminds me of Cleveland Amory's Black Beauty Ranch, that I read about in his books.

Haven, I hope you're able to get your idea rolling!
 

Skippy123

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I bet people would donate but finding a jeweler that wants to do this might be a little tougher; I am sure the jeweler would need to do a lot of paperwork. I would donate something!
 

Lady_Disdain

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Yes, the legal side of this would need some ironing out. For example, the jeweler would probably have to collect sales tax on the item and donating something to a business is not as simple as donating to a charity. It would be good to talk to a good accountant and understand that side of things.

I think a small display dedicated to charity pieces and clearly identified as such would be nice in a retail space. Even if it isn't a permanent thing, it could be done once or twice a year as a promotional affair for both the charity and the jeweler, as well as raising money.
 

Haven

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Packrat and Missy--How is it that we all have the same plan? :cheeky:

Since I've been basically home bound and sick all summer I've actually been putting in an entry to the Publisher's Clearinghouse sweepstakes every day. I'd never done it before this summer, but I was lying in bed one day and thought, "I might as well try to win the lottery!" Fingers crossed.

Great ideas in this thread. I'm so glad I posted it.

Ginger--You make a good point. I wonder if the general population knows how little their jewelry is worth on the secondary market?

Jennifer--I've done some digging around and can't find anything that works with jewelry and animals, specifically. I'll look some more though.

Missy--That's a good point, about the tax situation. I woke up thinking that instead of having people bring their jewelery to jewelers, they should probably bring it to the organization involved. That way the org can give them whatever receipt they need for tax purposes, and the jewelers don't have to deal with anything other than selling the piece. That way, the problem Skippy pointed out with the jeweler doing a bunch of the paperwork can be avoided, or at least minimized.

I was thinking about this all in terms of a one or two day event, and now after reading more I think that might be the best way to start. We have some awesome jewelers in the area, I know my own is big on hosting charity events, so I'm going to talk to him to see what he thinks.

Lady D--I love the idea of a small space in the store to display the items. That would make such a lovely statement, too--that the owners care about this-or-that cause. A good way to drum up more awareness, as well.

I'm going to move ahead with this idea and start talking to people. My students do a service learning project in my classes every semester, and I'm always in awe of how much easier it is to actually get good ideas off the ground than it might seem. We've never actually had an issue when it came to getting people and businesses to get involved. What I find time and time again is that people always say, "We really want to help, but we just don't know where to start." So when we give them a vehicle for doing some good, they hop on. They did amazing things last year, I'm so proud of them. I usually have my students form small groups and design their own service learning project, so I'm going to add this one to the mix of examples and see if any of them want to get involved.
 

Dee*Jay

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Haven, I know you're in the Chicago area, and the two organizations that come to mind are Anti Cruelty on LaSalle Street and PAWS. The both have rather well heeled patrons, so I'm guessing if you contacted the organizations they might even be able to give you some ideas on how to accomplish the jewelry donations because I think they may have already been through the process of dealing with non-cash donations. The XHH used to volunteer at Anti Cruelty (ergo, The Demon Dog and his crazy brother Oscar!) and he suggested that, based on what he saw there, we might not be the first people who want to give them "things" instead of checks.
 

Skippy123

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Dee*Jay|1344789801|3250198 said:
Haven, I know you're in the Chicago area, and the two organizations that come to mind are Anti Cruelty on LaSalle Street and PAWS. The both have rather well heeled patrons, so I'm guessing if you contacted the organizations they might even be able to give you some ideas on how to accomplish the jewelry donations because I think they may have already been through the process of dealing with non-cash donations. The XHH used to volunteer at Anti Cruelty (ergo, The Demon Dog and his crazy brother Oscar!) and he suggested that, based on what he saw there, we might not be the first people who want to give them "things" instead of checks.

yes, I agree, either talking to someone like that or a CPA in regards to not for profit "In-Kind" donations so it is easier to approach a Jeweler with your idea, then you just say you did all the leg work for how to put it together. Then if it is a Not for profit then you can pitch the idea to consumers as a tax deduction for their income taxes. Or another thing you can do since you teach at the local Community College is to talk to someone in the Accounting Dept (usually CPA's teach a lot of those classes) and they could give you some thoughts.
 

packrat

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Haven|1344788122|3250188 said:
Packrat and Missy--How is it that we all have the same plan? :cheeky:

Since I've been basically home bound and sick all summer I've actually been putting in an entry to the Publisher's Clearinghouse sweepstakes every day. I'd never done it before this summer, but I was lying in bed one day and thought, "I might as well try to win the lottery!" Fingers crossed.

Um, der, it's b/c we're all so dang S-M-R-T!
 

webdiva

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Great idea! I've been thinking about it because our local husky rescue (Alley's Rescued Angels) is trying to raise money to build fencing on the new farm they bought so they can save more dogs from kill shelters. I suggested getting donations of scrap gold and taking it to a jeweler downtown that gives really good rates on scrap gold.

And FYI - for anyone wanting to donating anything to save animals - please donate to your local rescue or directly to your shelter:

The Humane Society of the United States (HSUS) actually only gives LESS than 1% of donations to animal shelters and hands on animal care. (info: http://humanewatch.org/index.php/the_humane_society_of_the_united_states_and_pet_shelter_giving/)
You can investigate the ASPCA for yourself here : http://www.charitynavigator.org/index.cfm?bay=search.comments&orgid=3286 They also only give a small percentage to rescue organizations.
 
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