If you offer gifts or money to qualified organizations eligible to receive tax-deductible charitable contributions, you must do two things: Here are six things you should remember about donations and written acknowledgments: Of course, you also have to make sure the organization you are donating to is qualified. Not every nonprofit can grant you the […]
Tag: Philanthropy
Creating a Family Philanthropic Plan
Philanthropy is a wonderful way to increase connection, share values and create meaning among family members. When you discuss your values and giving goals, your whole clan can find ways to make more of a difference. By involving your children and grandchildren in philanthropy, you’ll be gaining insights as everyone contributes information, broadening family members’ […]
Managing Restricted Funds for an NPO
You get a large donation from a well-heeled graduate who wants the use restricted for a new science building. This is just one example of money with strings attached that nonprofits need to manage appropriately. But allowing donors to have input in the use of financial gifts motivates major gift-giving. Fund accounting — requiring funds […]
Ultra-Wealthy Donors: Elusive But Worth Your Nonprofit’s Efforts
High-net-worth individuals donated $5.8 billion during the first six months of the COVID-19 pandemic — generous giving by most standards. This is according to a recent report, “Philanthropy and COVID-19 in the first half of 2020,” from the Center for Disaster Philanthropy and information service Candid. However, that $5.8 billion amount is deceptive, because nearly three-quarters of […]