Sharing the Wealth Home Charitable Giving Five-Step Guide
   
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Making Charitable Giving Part of Your Financial Plan: A Five-Step Guide
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FROM MPR NEWS
The Changing Face of Philanthropy in Minnesota:
a radio series on giving in the New Economy.
Guide Home | Step 1 | Step 2 | Step 3 | Step 4 | Step 5 | Profile Index
   Q U E S T I O N S  T O  A S K

Print out this list of questions, organized by the 5-step categories, as a worksheet to help you get started on your own charitable-giving plan.

STEP 1: TO GIVE OR NOT TO GIVE?

  • Why do I want to make charitable donations?
  • Is it important to me to contribute to my community?
  • Do I feel indebted to any special organization?
  • Should I support organizations that directly benefit me?
  • Am I willing to support organizations that do not benefit me?
  • How does my spouse answer these same questions?


STEP 2: HOW MUCH TO GIVE?

  • Before I estimate what I can give to charity, have I met my family's needs for living expenses, insurance, education, and retirement?
  • Do I have an annual family budget?
  • How much can I spend on charitable giving without financially risking my savings?
  • How does my current level of giving measure up to the average estimated affordable contribution for my income group?


STEP 3: HOW SHOULD YOU GIVE?

  • Should I consult a financial advisor about planned giving?
  • Do I have a will?
  • Does my will include bequests for organizations that are important to me or from which I have benefited?
  • Have I considered how a gift of appreciated stock might provide greater benefits to me and to the organization to which I donate it?
  • What criteria will I use to decide if the money I contribute is well spent?
  • How will I know if my criteria are met?
  • How much time can I dedicate to follow-up and evaluation of my charitable contributions?
  • Do I want recognition for this gift or would I prefer to remain anonymous?


STEP 4: WHERE SHOULD YOU GIVE?

  • Is the person asking for my donation a volunteer - or a paid fund-raiser?
  • How will my contribution be used?
  • How much of the nonprofit organization's budget is used for programs that fulfill the organization's mission?
  • How much of the nonprofit organization's budget is used for fund-raising and administrative overhead?
  • Does this organization have tax-exempt status from the IRS?
  • Could my money be more effective elsewhere?
  • What are the three categories most important to me for charitable giving?
  • When I contribute to a national or international organization, am I overlooking a local nonprofit that addresses the same needs?


STEP 5: WHEN SHOULD YOU GIVE?

  • When is the best time of year for me to give?
  • Do I want to respond to pleas for donations during crisis?
  • If so, do I want to set aside an amount for crisis responses?
  • Do I want to set criteria for crisis responses?
  • Is it important for me to leave a legacy?


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