Year End Donation Considerations
According to Mobile Cause, 50% of nonprofit organizations earn the majority of their total annual revenue between October and December. The average person makes 24% of their annual donations between Thanksgiving and New Years.1
Charity Navigator recommends the following:
• Review last year’s charitable investments: Before making new plans, take a look at the charities you supported last year to find out what they’ve accomplished. You’re not looking for a list of itemized expenses, but instead a progress report. If a charity in your giving portfolio can’t tell you what kind of results they created from your investment, then replace it with one that will.
• Be specific: As you consider which charities to support this year, remember that there are roughly one million of them. That means you don’t have to settle for an organization that isn’t a perfect match for your beliefs and goals.
• Don’t miss your chance: If you want to deduct your charitable contributions on your 2015 tax return, you only have until December 31st to make your donations.2