Many businesses today are choosing to align themselves with charitable organizations for mutual benefit. Aligned together the business has an improved image in the community and more people are made aware of the charity's cause. It is a win win situation and with the added benefits of tax write off's business are flocking to get involved in donating. The word is out that it pays to be charitable. But, regardless of the reason or impulse – people who donate, people who give will always be applauded.
Here are some questions to help you find a charity and donate with confidence:
How do I find a good cause?
There are many good causes out there and websites such as Charity Navigator and http://Give.org provide lists of charities, resources and information to help you with your decision. Some businesses choose to align themselves with organizations that expresses the values of local communities and build good will with customers. Be thorough in researching your charity and support a charity you are comfortable with.
Where can I go to research a local charity?
Start out with the charity themselves: ask for a copy of the annual report and information about the organization. A good charity will gladly give information to you.
Check with the Internal Revenue Service : the IRS will be able to confirm their tax exempt status. Organizations have to meet certain government requirements in order to receive tax exempt status.
Ask the Better Business Bureau: the BBB on-line has a site dedicated to charitable organizations with tips and information on making contributions.
How can I get my employees involved with my charity?
You could opt, as other businesses have, to ask employees to donate small amounts (like a dollar a week) in weekly, bi-monthly or monthly deductions from their pay checks and then agree that the company match that amount in donations. Alternatively, you could assist with fund raisers at which employee could volunteer to help. Employees could wear promotional apparel with both your company name and the name of your charity.
Can I write my donation off at tax time?
Some charities have 'tax exempt' status but not 'tax deductible' status It is best to find out from the IRS if your donation is tax deductible. Contributions are tax deductible if your charity has 501(c)3 tax exempt status with the IRS. Contributions to organizations with501(c)4 and 501(c)6 status are allowable as deductions as business expenses but not as charitable donations. Contact your local IRS office for more detailed information.
How often do I make a contribution?
There are many ways to contribute. You could give a one time annual contribution or decide on your own contribution schedule with your charity. Donate with checks payable to the name of your charity. Don't give cash. Ask for receipts for non-monetary donations and keep lists and records of what a donation was and when it was given.
Are there ways I can donate to charity without giving money?
Many charities are equally appreciative of gifts as they are of cash donations. Plus you can make a non-monetary contribution and still get a tax deduction. Ask your charity what kinds of non-monetary contributions they accept. Customized items, gifts and apparel highlighting both your company and your charity's name are a great choice as gifts. These could take the form of customized T-shirts, gym bags, hats, lunch bags, pens. Promotional products have staying power and they are a proven, low cost method of generating interest in a business or cause.