Soon, your mailbox will be stuffed with dozens of appeals to support charitable causes. It can be overwhelming trying to decide where to give your hard earned money. Here is a guide to play it smart for you and your favorite causes.
1. Because it would be impossible to donate to EVERY worthy cause, it’s best to begin with a total amount in mind that you are comfortable gifting.
2. Give bigger amounts to fewer charities to make a bigger impact. Be sure to ask if there are fees or administrative costs associated with your gift.
3. Investigate the charities you want to support. Make sure their work is in alignment with your core values. If you are giving to a local charity, spend some time with the folks who run it and get to know the organization.
4. Don’t leave your tax advantages on the table. At the Foundation for Community Care, Melissa Boyer, a Certified Gift Planning Associate, can help you find ways to save on taxes and give to the future of healthcare.
5. If you have young children, involve them in the giving decisions. Children whose parents talk to them about giving are 20 percent more likely to give to charity than children whose parents do not discuss giving with them.
Once you’ve found a charity you can really get behind, consider making an annual gift to them for the next few years (or longer). For non-profits, attracting new donors is an expensive venture, and if you like the results of their work, your continued support is what they need to thrive and grow.
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