In the United States, the Tuesday after Thanksgiving, this year on November 26th, is known as ‘Giving Tuesday,’ a movement to create a day of giving to kick off the holiday season. But with so many non-profits and charitable organizations out there, how can you be sure who to give to?
Our advice: Be generous, but give wisely!
Some things to remember for “Giving Tuesday”
· Many non-profits make as much as 30-40 percent of their overall budget at this time of year.
· Check out GuideStar (a resource for info on non-profit organizations) or your local attorney general’s office to make sure the charity is legitimate, and to assess how their funds are spent.
· Click here for information on tax deductions for charitable contributions.
· Be wary of telemarketing solicitations. Less than half of every dollar raised goes to charity. Help elderly relatives with their giving to minimize the threat of scams.
· Charitable giving should be treated like any other expense and budgeted for.
· Support causes that are important to you, but budget for unexpected requests from friends.