There are only a few more days to make your tax deductible gift in 2016! This is an extraordinary time for individuals, small businesses and corporations to demonstrate the power of social responsibility. Tax deductible organizations supporting imperative causes in OUR community are largely driven by year-end donations.
Here are some tips for making your charitable gift count:
1. GIVE SMART. Research makes a difference when making charitable donations, especially if making a donation for the first time or to a new organization. Do not be afraid to ask questions about the use of the funds received. What percentage of funds are used toward programs? How will my donation be used? An organization must have 501(c)(3) status in order for you to receive tax credit. To Learn More About Exemption Status, click here.
2. GIVE GENEROUSLY. Giving is truly better than receiving, and even better when you also reap the benefits. Find an organization that aligns with your values and/or interests. The organization DOES NOT have to have a well-known brand. Charitable, religious, educational, scientific, literary, public safety, and more are just a few areas where your donations will be helpful. And if you cannot give largely, give generously by researching where your donation makes the most impact. Giving online is easy!
3. GIVE SOMETHING. Supporting charities is inclusive! Everyone can play a part. If money is tight, try giving in other ways. Clean out your closet, attic or garage to find those hidden treasures someone else can make great use of. Make sure to get a receipt for your records. And, don’t forget you can also give the gift of your time! For every hour you volunteer, nonprofits save an estimated $23.56 in operating costs. That enables these organizations to allocate more funds to where they matter most: in areas of impact.
4. GIVE YOURSELF a pat on the back! With little effort you made a HUGE IMPACT this year! One more suggestion: Speak with your accountant or tax preparer to find out how much you need to give in order for it to make a difference towards your refund.