making wise giving choices
DESCRIPTION
A great presentation about how prospective donors can make educated decisions about charitable giving. Includes an overview of the BBB's Standards for Charity Accountability, tips on thrifty ways to donate to charities, and an explanation of the differences between tax exempt and tax deductible.TRANSCRIPT
Tax Exempt vs Tax Deductible BBB Charity Standards Giving Basics Thrifty Ways to Donate Your Questions!
You want your gift to make an impact You want to make sure the gift is tax
deductible
Tax exempt organizations do not pay income taxes Better Business Bureau (Business organization) AARP (civic organization) Kansas State Troopers Association (fraternal
organization) Harvesters Community Food Network (charity)
Tax deductible means that a donor can deduct contributions from his/her federal income tax return. Most are classified by the IRS under section 501(c)(3) Harvesters Places of worship (churches, synagogues, etc.)
Publicly soliciting organizations that are tax-exempt under section 501(c)(3) of the Internal Revenue Code
Full disclosure to donors and potential donors
Standards go beyond laws and regulations
Governance
Effectiveness
Finances
Solicitations and Informational Materials
Information we review:
•IRS form 990•Audited Financial Statements•Annual Report•Fundraising Appeals•Website•Board Roster
Public information that you can review, too!
Do not give cash Keep records of your donations for tax
purposes Don't be fooled by names that look
impressive or that closely resemble the name of a well-known organization. Make A Wish Foundation (seal holder) Children’s Wish Foundation International
(nondisclosure) A Child’s Wish (nondisclosure)
Research charities Council of Better Business Bureaus: www.give.org BBB of Greater Kansas City: www.kansascity.bbb.org Kansas Charity Check:
www.kscharitycheck.org/main.html Missouri Check a Charity:
http://ago.mo.gov/checkacharity/ Donors Edge: www.gkccf.org
Toys, Food, or Other Items Make sure items are needed and in good
condition! Shop Thrifty
Shopping thrift stores benefits charitable programs
Your Time Serving clients or working behind the scenes
Your Voice Donor advocacy can help advance policies that
will further and organization’s mission
• Know where to get the info you need to make sound giving choices
• Look past names, and focus on what organizations actually do
• Make sure your contributions are tax deductible
• View a growing list of reports on local charities at www.kansascity.bbb.org
If you want the BBB to report on more local charities, please call us! 816.421.7800Contact me at [email protected]