Feeling charitable for the holidays?
The Community Foundation for Palm Beach and Martin Counties can help plan your giving.
Here are four ways to make your charitable giving more effective:
1. Evaluate what you’re most passionate about & find a reputable charity.
Is it education, religion, health or community improvement? With more than 6,000 nonprofit organizations in Palm Beach and Martin Counties, the Community Foundation can find one that meets your criteria and one that we have vetted as an upstanding organization. You can also visit Guidestar for a complete nonprofit database.
2. Determine how much (or what) you want to give.
Consider speaking with your tax advisor (or the Community Foundation) to learn about the tax benefits of charitable donations. Ask yourself if you donated the right kind of assets this past year, for example cash, stock, retirement assets, and real estate – these can all be donated! In fact, donating appreciated assets, such as real estate, stock and securities or personal property can bring even greater tax advantages.
3. Learn how to make the most impact.
Take an inventory of the charities you have donated to over the past year. Did you support the areas you thought? Did you make the impact you anticipated? The Community Foundation offers assistance with maximizing donations and finding opportunities that will double your donation – making the impact even greater.
4. Keep records of your donations.
Look through your receipts. Do you have all the required tax receipts from your past contributions this year? The IRS requires that you have a receipt for all gifts $250 or greater.
How can we help? Give us a call at (561) 659-6800 if you have any questions about your charitable giving this holiday season!