Supporting a Nonprofit

As you enjoy your retirement years you may find yourself with a little extra money on hand that you would really like to see go to charity. It’s admirable to want to give back to the community or to certain causes that you are passionate about, and it’s even easier to do that today than ever before with the internet. Your web browser can be used for more than just researching Medicare supplement plans.

 

Searching for a charity to support can be as simple as a Google search for any causes that you are interested in. If you are a Veteran you might want to support local Veterans’ Issues focused charities whose mission you really care about. Maybe the environment is your thing and you really want to support groups that are making changes to better the environment. There are a wide variety of causes to support.

 

You can donate to specific events that they host or make it a monthly thing to send them a certain amount of money you feel comfortable parting with. Buy tickets to their events so that you are donating to them, but you also get the immediate reward of being able to enjoy the event yourself and also get a first hand look at the great things they are doing for their cause. It’s also a great way to make sure they are actually doing the things they say they are doing for their cause.

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You don’t have to donate just money, either. You can donate gifts to charity and write those off for the value of the gift, just like you would write off the amount of money you donate throughout the year. Art is a very popular gift to donate to charity, particularly if you are finding that you have a surplus of art saved up from over the years that you really don’t want anymore, or might not even be hanging up in your house because you have no room for it. You can donate an old car that you don’t use to charity as well. Some people even gift stocks they own in public companies. Aside from gifting stocks, which will hold the value of the stock price when you donate it, bring in an appraiser when gifting other non cash items so you have a documented value for each item you donate when you go to write it off. That will make sure the IRS doesn’t dispute it during tax season.