How to Donate Money to Charity

By eHow Personal Finance Editor

Rate: (8 Ratings)

Donating money or property is a good way to help a needy organization and get a tax write-off as well.

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Instructions

Difficulty: Moderately Easy

Things You’ll Need:

IRS Forms
Calculators
Accounting Services
Bank Account
Tax Preparation Software

Step1

Determine how much you want to donate annually. Meet with an accountant or tax preparer to identify an appropriate amount for your personal financial situation.

Step2

Decide whether you want to donate to just one charity or to multiple charities.

Step3

Contact the charities and ask them to provide you with information about the donation process.

Step4

Determine, with your accountant or tax preparer, the optimal time to donate the money or property.

Step5

Give your donation.

Step6

Ask for a receipt that details your donation.

Step7

Keep records of the value of any property you donate.

Tips & Warnings

Many employers sponsor an annual charitable drive, usually in conjunction with the United Way. This is an opportunity to give to several needy causes at one time.
Check to see if your employer will match any donations you make, including those to school PTAs.
Verify the validity of the charity. Ask for documentation of where funds will go and proof of the organization's nonprofit status.

Comments

Anonymous said

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on 11/22/2005 Consider making it a personal policy not to give money over the phone or when someone comes to your door. Though many legitimate charities solicit donations this way, many scam artists also use these tactics to try and get your money. If you're interested in giving to one of these organizations, ask for some literature. Then you can check if the charity is legit, research their operations, and decide if you want to contribute at your own pace.

Anonymous said

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on 2/28/2006 At www.CharityNavigator.org, America's premier independent charity evaluator, donors can review the financial health of thousands of America's charities for free. The site also features original opinion pieces by Charity Navigator experts, donation tips, and top-10 and bottom-10 lists which rank efficient and inefficient organizations in a number of categories. The site is easily navigable by charity name, location or type of activity.

Anonymous said

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on 11/22/2005 The Better Business Bureau reviews and reports on charities. Reports on charities are available at www.bbb.org and www.newyork.bbb.org. NY-BBB has a 54-page Giving Guide listing about 350 area charities, their missions, spending ratios and other info.

Anonymous said

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on 11/22/2005 Contact a local church for a needy family. We buy a gift certificate to a grocery store, buy and wrap gifts, give stocking stuffers, then deliver everything a few days before Christmas. This makes giving more personal for our children.

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