REVIEW THE CHARITY’S FINANCIALS Understand how your donation will be used. While overhead costs should not be a deal breaker, it is important to compare operating costs to program costs. Resources like Charity Navigator can help. CONSIDER ALTERNATIVE FORMS OF GIVING endowments, and many other creative forms of giving. Talk with your advisors about your options. INVESTIGATE MATCHES Many grant makers and donors offer funds to match donations by other benefactors. Matching gifts can help boost your gift. KEEP YOUR FINANCIAL ADVISORS INFORMED Make sure your financial team – including your financial advisor, attorney, and tax advisor – is aware of your charitable giving, especially if you plan to donate large amounts of money, securities, real estate, or other valuables. DOCUMENT YOUR GIVING, NO MATTER HOW YOU GIVE Documenting any and all gifts is crucial. Be sure to contact your financial advisor before you make a charitable contribution to determine the documentation you will need at tax time. Because tax guidelines can vary, seek the advice of your tax professional for additional information. FOLLOW UP Look at your donation as an investment in an organization. Check its website for progress on what it is doing and what it has accomplished. Create a relationship with the organization and support it over time. BE A PROACTIVE GIVER! In addition to financial support, consider giving your time and skills. Not only will you help the organization, your hands-on experience will tell you how well-managed the organization is and how effectively it accomplishes its mission.
Contact a Commerce Trust advisor today to discuss your charitable giving goals and explore your options. 1-855-295-7821 | commercetrustcompany.com
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