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Entry bubble Donating to charity

By: Jess | November 19, 2009 | Category: Money

checkbookIf you have a little extra change in your pockets after you've finished all your holiday shopping, you might want to consider donating it to your favorite charity. Last year, charities made $307.65 billion from contributions, according to the Giving USA Foundation.

But before you write that check, do a little research to make sure the charity is legitimate.

The Better Business Bureau Wise Giving Alliance pulled together five important questions you should ask before donating.

1. Is the charity trustworthy?
2. How will your donation be used?
3. Is the donation tax deductible?
4. Is your donation useful to the charity?
5. Are you feeling pressured to donate?

These questions should help you determine if your money is going to a legitimate charity that will put it to good use to fund programs that you believe in.

If you're curious about how to list different donations for tax purposes, check out these tips. 

| View Comments [8] | envelope E-mail This Entry | Tags: charity   donation   giving   jess  

Comments (8):

blue comment bubble Posted by Laurie B. on November 19, 2009 at 09:56 AM EST

If you have the ability to donate this year, please consider it! Many charities are suffering heavily this year with the economic downturn, and right now people need the services provided by these charities more than ever. The 5 questions listed above are great questions to ask, and I would add one more - What is a need that you feel most passionate about? Find a local nonprofit that serves that need and find a way to help them.

If you can't donate money this year (and I am definitely one of those people), there are plenty of other ways you can make a difference. Consider donating in-kind items such as clothing, toys, books, food, etc. And most of all consider donating your time and talents to a cause. Volunteering your time can be one of the most rewarding experiences, and it simple to do. A great website to use to find volunteer opportunities is Serve.gov.

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blue comment bubble Posted by winspire on November 19, 2009 at 06:26 PM EST

Those questions are a pretty good guideline. Sometimes if it's small enough, it's helpful if you know something about what kind of people are involved too.

Charities are having a tough time with the economy the way it is, and need all the help they can get, but that's not easy for people who are financially hurting.

I found a creative company by the name of yourworldlight.com that makes it more of a win-win.

It's designed to build income for anyone giving a one-time donation of $59 and does so by placing all funds given after you into a straight line model that builds on your own funds as others join. When enough weeks (or months) have gone by to allocate funds back to you, checks are sent periodically, and can grow far more than the modest one-time investment.

10% of all profits are allocated to the charity of one's choice. While it does take some time, it seems to be working, and they anticipate major growth in 2010. If that occurs, it will do very well by everyone involved. (Some think they will make their living with this, but I'd be reluctant to go that far).

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blue comment bubble Posted by winspire on November 19, 2009 at 07:57 PM EST

Those questions are a pretty good guideline. Sometimes if it's small enough, it's helpful if you know something about what kind of people are involved too.

Charities are having a tough time with the economy the way it is, and need all the help they can get, but that's not easy for people who are financially hurting.

I found a creative company by the name of yourworldlight.com that makes it more of a win-win.

It's designed to build income for anyone giving a one-time donation of $59 and does so by placing all funds given after you into a straight line model that builds on your own funds as others join. When enough weeks (or months) have gone by to allocate funds back to you, checks are sent periodically, and can grow far more than the modest one-time investment.

10% of all profits are allocated to the charity of one's choice. While it does take some time, it seems to be working, and they anticipate major growth in 2010. If that occurs, it will do very well by everyone involved. (Some think they will make their living with this, but I'd be reluctant to go that far).

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blue comment bubble Posted by http://www.national-locksmith.com on November 19, 2009 at 08:22 PM EST

That is really very important for the people who gives charity. We want our charity to be used in proper place so these basic question by BBB is really important and ever body should keep in mind before we donate our money in charity.
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God bless America

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blue comment bubble Posted by David James on November 20, 2009 at 06:07 AM EST

Yea! I am also agree with this if you are spend your extra fund in charity than you must check that, Is your fund use in proper way by that trust?

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blue comment bubble Posted by Leslie on November 21, 2009 at 07:24 PM EST

Donating to charities is a great idea for what to do with your extra holiday cash!

Looking into whether a not a charity is legitimate is a great idea as well.

I have found that if you are going to give to a charity it is more rewarding to get involved with it as well. Even if this just means going one time to meet with the director, or chapter president, and asking questions about the organizations mission. If you are able to meet with or talk to the people who are served by the charity that is a good idea as well.

If you have some time, volunteering once or twice will give you a good feel for the organization at the ground level and it will help you to get a feel for whether or not your donation is doing good. It will help you to better connect with the gift you give and know that you are satisfied with your donation. It also helps to build relationships with them in the future. You may suggest the organization to a friend when you hear them asking about a worthy cause to donate their extra cash to. It also helps you feel comfortable to give to the organization again in the future.

Plus, you can get a tax deduction when you give to some nonprofit organizations and as the end of the year rolls around, this can be quite helpful. It is a great way to spread some holiday cheer to those in need and receive something helpful back in return.

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blue comment bubble Posted by Joe P on November 23, 2009 at 10:43 AM EST

Personally I believe there should be a sixth point added to the five questions put together by the Better Business Bureau. That suggestions is that after you give the money, stay involved in the charity that you are donating to. At the very least continue to stay informed as to what the charity is doing, and what their plans our for the future. The best way to know that your money is being used wisely is to develop a relationship with one or more charities, and donate to them every year if you can. If you get to know the charities well enough, you can start to donate money with stipulations to be spent a certain way. Just a thought.

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