As a team we all have our favorite charities, some are local and some are much larger. 501c(3) organizations have a variety of needs, that include monetary donation, volunteer time, donations of physical items, event attendance, and word-of-mouth advertising. Many of us have served on the board of directors for non-profit organizations over the years and find this work fulfilling and rewarding. With anything that we give our time and money to we have learned lessons along the way that help us make the best choices for our business and families. Below you will find a list of questions that you could ask before giving to any organization.
Charitable Giving and Your Taxes
- Does the organization hold a non-profit status?
- What is the mission or aim of the organization?
- What percentage of donations are used to cover administration costs?
- What percentage of the donation is used locally?
- Can you tell me about the progress made by the organization towards its goal?
- How does the organization ensure that the beneficiaries have a say in the decision-making process?
- What obstacles has the organization faced in meeting its goals?
- What are the short- and long-term goals of the organization?
- Are there any follow-up programs to make its mission and work sustainable?
- How does the organization communicate its mission and progress to donors?
Matt Julian, a Senior Financial Advisor, is currently on the board for ICAN. On April 30th our team volunteered some hours to help with campus clean up. We washed windows, doors, walls, power-washed picnic tables, trash cans, and other general spring sprucing. Everyone was able to see the shine we helped to put on the play areas and classrooms. We also all took afternoon naps when we got home. If you would like to learn more about ICAN, please reach out to us by email at acm@ceterainvestors.com.
