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