Tip of the Week: Charitable Giving (9/16/96)

\| Home \| Site Search \| Previous Tips \|
	Choosing Charities Financial Tip of the Week by Deloitte & Touche OnLine September 16, 1996

A little skepticism makes sure your money is spent wisely.

More charities are asking for more from donors, as social needs grow and government funding is cut back.

Are your donations being well spent? Here are some tips on charitable giving from Council of Better Business Bureaus:

Never give cash. Make contributions by check and make your check payable to the charity, not to the individual collecting the donation.
Keep records of your donations (receipts, canceled checks, and bank statements) so you can document your charitable giving at tax time. Save all receipts, cancelled checks and bank statemtns. Also keep track of any out-of-pocket expenses you incur in your work as a volunteer, because those are tax deductible.
Check out the organization with the local charity registration office (usually a division of the state attorney general's office) and with your Better Business Bureau. All organizations should provide an annual report on request.