Philanthropic Donations: Minding the Ps and Qs of Paperwork

Since 2001, Ragab El-Rashidy has served as CEO and chairman of the board for Genix Therapeutics, Inc., based in Illinois. Some of El Rashidy’s specialties include developing strong investor relationships and coordinating pre-clinical studies. When not engaged in business pursuits, Ragab El-Rashidy takes an interest in philanthropy.

Donating to philanthropic efforts does a world of good for organizations and the causes they support, but donors must take care to mind the niceties of their contributions. For instance, never give cash to an organization. Donors should be able to trace their donations, and cash is difficult to monitor.

Similarly, refrain giving out your credit card number to a phone solicitor, especially when the call comes from a new or little-known organization. Perform a background check on the organization first to learn more about how it uses donations. Always ask for a receipt or a printed copy of the donation, which will serve as a record during tax season.

Charitable donations may be tax exempt, or tax deductible, which have different meanings. The term “tax exempt” means the charitable organization does not have to pay taxes on donations, whereas the term “tax deductible” favors means donations can be deducted from federal income tax returns.


Making Venture Capital Investment Choices

The chairman of the board and chief executive officer at Genix Therapeutics, Inc., Dr. Ragab El-Rashidy previously served at Pentech Pharmaceuticals, Inc., and Pharmedic Laboratories, Inc. The recipient of a PhD from the University of Illinois-Chicago, Dr. El Rashidy also worked as a laboratory instructor at UIC’s College of Pharmacy. With more than two decades of experience in the pharmaceutical and healthcare industry, Dr. Ragab El-Rashidy holds 23 patents and has developed successful relationships with a number of major venture capitalists.

Venture capitalists are early-stage investors who take risks on little-tested or untested startups that are looking to turn ideas or prototypes into successes. They consider a number of factors before deciding whether or not to invest their time and money.

One of these factors is the manager’s or management team’s history of handling successful projects. In the absence of such talent, the company should be willing to hire experienced managers to lead the projects. A history of successes can help investors feel more comfortable about a risky project’s long-term possibilities. Similarly, venture capital investors value clarity about the forms of risk they are likely to encounter. A clear business plan also demonstrates the company’s long-term expectations.

Seven Winter Travel Destinations You May Want to Visit This Season

The CEO of Genix Therapeutics, Ragab El-Rashidy leads his company in conducting pharmaceutical research. Since undertaking his career, he has patented over 20 pharmaceutical products. Outside of his professional pursuits, Ragab El-Rashidy enjoys traveling all over the globe. Following are some of the top recommended winter travel destinations for 2014 and 2015:

1. Iceland
The geothermal hot springs and pools found throughout Iceland offer a cozy retreat from the cool weather. After hiking through the beautiful countryside, tourists can take a dip and enjoy the warmth of the water. In addition, some consider winter the best time to visit the renowned Blue Lagoon spa.

2. Philadelphia
Many of Philadelphia’s top historical attractions are indoors, which permits travelers to tour interesting locations with minimal exposure to the cold. Winter visits may also mean fewer crowds, as most travelers come during the summer months.

3. Bucharest, Romania
A trip to Bucharest is among the most inexpensive around in regards to European travel destinations, and prices for airfare and hotel rooms drop sharply during the winter months.

4. Banff National Park in Alberta, Canada
Canada’s oldest national park offers a plethora of winter activities, including dogsled tours, sleigh rides, skiing, ice climbing, and ice fishing. Sightseeing tours take visitors through Banff’s landmarks and in search of native wildlife.

5. Denver, Colorado
Winter in Denver makes for an ideal location for winter sports due to its close proximity to the Winter Park Resort and Loveland Ski Area. Additionally, the city’s seasonal rates drop in the winter.

6. Kauai, Hawaii
Travelers who prefer rural locations may want to consider visiting Kauai in the winter. The island’s mellow culture offers the right atmosphere for relaxation, and its landscape includes a myriad of hiking trails. However, the cost to travel there is typically high.

7. Costa Rica
Travel experts consider the dry season of December through April as the best time to visit Costa Rica. Travelers can experience the country’s rich wildlife, vibrant fiestas, and sunny beaches, with temperatures in the 90s. These months are Costa Rica’s peak season, making expenses high and reservations mandatory.