It might be a warm sweater for grandma, the newest electronic gadget for your teenager, or a watch for dad. But, for millions of Americans, December also marks the time for year-end charitable gifts to their favorite organizations. In fact, according to Giving USA, in 2014 Americans donated an estimated $358 billion to the nation’s more than one million charities.
Charitable giving is not just for the wealthy, and it is not gifts from large corporations and foundations which comprise the majority of funds received by the varied organizations which help those in the community to lead a better life. Of the total gifts contributed to organizations last year, 72% were from individuals.
So, as you sit down to review the stacks of solicitation letters you’ve received in recent months, or reflect on those organizations important to you, here are some helpful year-end giving tips you should know:
Research the charities you support
First, do your homework. Is the charity in compliance under state and federal laws and regulations? Is it eligible to receive tax-deductible contributions? And, are its programs and services fulfilling the organization’s mission? What are people saying about them? Review charities on-line, check comments posted through social media and look to established watch groups such as the Better Business Bureau and Charity Navigator.
Will my gift make a difference?
Look carefully to see if the organization’s programs and services reflect your interests. Check their website for information, press releases, videos and testimonials. Review printed newsletters, brochures and materials. Don’t hesitate to call them and ask questions about how contributions are used and what your gift will support.
Is the organization efficient AND effective?
While overhead and administrative costs are important criteria to evaluate an organization’s efficiency, it is also important to evaluate their success in meeting the needs of the community. How many people use their programs each year? Are they providing services no one else does? Are they having an impact through their work?
Keep records of your gift
For gifts to be tax-deductible, be sure you have proof of your donation. Gifts over $250 should be acknowledged by the organization with an official receipt. Cancelled checks can be used to verify gifts less than that. Save statements if gifts are made by credit card. Make sure you receive a receipt or letter for gifts-in-kind and non-cash contributions such as clothing and equipment.
Charitable gifts are among the most special and meaningful gifts you will give this year. They enrich and enhance your life and the lives of your family, friends, neighbors and the community. Be sure the organizations you contribute to are worthy of your trust.
By Marc D. Suntup
Marc is Chief Development Officer of the Gurwin Jewish Healthcare Foundation and an active member of the Association of Fundraising Professionals.
