Wise Giving Wednesday: The Clock is Ticking for Year End Giving
For those U.S. donors seeking to get a 2015 tax deduction for charitable gifts, the clock is ticking. By the time this blog is posted, there will be less than 48 hours left for this opportunity. Not surprisingly, last minute donations are particularly popular with online gifts. For example, Network for Good reported via an online giving study that 12% of online gifts made in 2014 came in the last three days of the year. In making last minute contributions, here are some points to keep in mind.
Give with confidence by verifying the trustworthiness of the charity on Give.org. Look at our national soliciting charity report list to see if the organization meets the 20 BBB Standards for Charity Accountability. Or, use the Give.org search engine for both national and local charity reports.
If you want to confirm that the organization has received charitable tax-exempt status, you can use the IRS search engine but be sure you know the exact official name of the organization.
If you decide to give online, you can claim a 2015 deduction as long as the contribution transaction is posted before midnight on December 31 st even though your credit card bill won’t arrive until 2016.
If you prefer to mail a check, you need to be a bit more careful if you want a 2015 deduction. For example, if you use a mailing service other than the U.S. Postal Service, the “delivered when mailed” rule may not apply. Also, don’t post date your check with a 2016 date – doing so makes the check a type of pledge to give in 2016. For more information, see IRS Publication 526.
As part of our Building Trust Video Series, we are pleased to provide the following video that features Scott Case, Chair of the Board of Network for Good (a BBB Accredited Charity). Network for Good enables donors to make online contributions to charities and offers charities training in online fundraising.
Finally, remember to let us know by going to https://give.org/ask-us-about-a-charity1/ if you are interested in seeing a report on a charity not on the list and we will do our best to produce one.
H. Art Taylor, President & CEO
BBB Wise Giving Alliance