Charitable Contributions and Checking Out Charitable Groups Modules 14.1 & 14.2

VOCABULARY Charitable giving: the act of giving to charitable organizations or to those in need. Nonprofit organization: a legal organization designed to provide a service or engage in activities without any commercial or monetary purposes.

How Do We Contribute Cash donations are the most frequently used form of charity. Donating time is also a common form of charitable giving. Another way to contribute is by making an in-kind contribution, which means donating a non-cash item that has value.

Making an Informed Choice about Charitable Organizations Smart givers generally find out as much information as possible before contributing to an organization. Some tips to help you make good choices: 1.Avoid responding to telemarketers soliciting money. 2. Never respond to s asking for money. 3. Beware of “sound alike” names. 4.Avoid putting change in the cans by the cash register. 5. Check out the organization.

Costs and Benefits of Charitable Giving Giving of your time in volunteer activities, making monetary donations to organizations, and providing in- kind contributions is a cost because those resources are no longer available to you. You receive benefits from feeling good about your decision to help the organization or the people it serves. Depending upon your level of income, you may be able to deduct charitable contributions from your personal income taxes.

Volunteering Your Time Because most nonprofit or charitable organizations have limited funding and small staffs, they rely on volunteers to help get the work done. If you want to volunteer, you should first identify what organizations best fit your interests and your needs. Next, call the organizations to see if they are looking for volunteers and what kinds of tasks they need done. Be sure they have a position that is a good match for your skills and abilities. Before accepting a volunteer position, be realistic about what you can do and the hours you can work. They are relying on you to do what you say you will do when you say you will do it. You have made a commitment to them, and you should take that commitment seriously.