Notes on Charitable Giving Rules

I believe that thought should be given when deciding to whom and how much one should give to charities.  Sure, sometimes you’ll receive a request and you’ll give $25 or $50.  But for more substantial gifts, here are some things to think about.

  1. Areas: Do you have specific areas that are near and dear?
    1. 3rd world issues (Women’s Refugee Commission for example)
    2. Buddhism
    3. Homeless (Aurora for example)
    4. Hunger (Tri-State Food Bank for example)
    5. Jewish causes
    6. Women
    7. Micro finance (FINCA and FONKOZE for example)
    8. Legal (EJI for example)
    9. General (Purdue for example)
  2. Organizations: Is there personal value in giving to these organizations?
    1. Donation will have impact
    2. Administrative costs less than 12%
    3. Total income is 100 million or less
    4. Appropriate salaries
  3. Research: How will I know?
    1. Examine the 990
    2. Read the annual report
    3. Determine where it ranks on charitable giving list
  4. Contribution
    1. 1-249                         no receipt needed
    2. 250 or more get a tax receipt
    3. Consider making the contribution from your IRA as a qualified charitable deduction
  5. Notes:
    1. Check out donor advised funds
    2. Give locally – Evansville