Whether it’s January, May, or September, it’s always a good time to check in on your budget.
So how do you factor in your charitable giving? To get started, consider planning your social impact budget around three points—amount, timing, and category.
How Much?
That’s the $64 question. Or more, depending on your budget. The first thing to keep in mind when setting a budget for supporting your favorite causes is that giving money isn’t the only way to do good. If your wallet is tight, if your corporate budget is lean, or if your interests are varied, consider other social impact activities such as volunteering, serving on a board, donating gently-used clothing, purchasing products that support a cause, marketing your favorite charities through social media, and more. It all counts. Set your social impact budget based on what makes sense for you and your family or your company.
How Often?
Charities are looking for support all year round. The vast majority of charitable contributions are made during the holiday season, but you don’t have to do it that way. Consider spreading your giving throughout the year. Your tax deduction is unaffected, and you’ll be giving the organizations you support a much-appreciated boost to cash flow.
Who Gets It?
Most people support a wide variety of charities. To see where your dollars, time, and energy are going, try sorting the organizations you support into the major categories of social impact (just like we do in our Nonprofit Directory):
- Arts & Culture
- Athletics & Recreation
- Community Development
- Domestic Animal Welfare
- Education
- Environment
- Health & Human Services
- Historic Preservation & Tradition
Keep in mind that religious giving frequently falls into one of these categories, depending on your gift’s purpose.
Budgeting for social impact can be as easy as 1, 2, 3. You’ll love watching the numbers come alive as you celebrate the causes you love the most.
Our Director of Philanthropy is always available to get together and talk through your social impact goals. Don’t hesitate to fill out our contact form or give our office a call at 970-641-8837 to schedule a meeting.
Simplified Summary
When you’re planning how to spend your money, don’t forget about helping others! Here’s how to make a plan for giving:
Three Things to Think About
- How much money you can give
- When you want to give it
- What kinds of causes you want to help
How Much Should You Give?
Remember, you don’t just have to give money! You can volunteer your time, donate used clothes, buy products that support causes, and/or tell others about charities on social media
Give what makes sense for you and your family.
When Should You Give?
Most people give during holidays, but charities need help all year! Try spreading your giving throughout the year. You’ll still get the same tax benefits.
What Causes Should You Support?
Your donations might go to different types of groups. Making a giving plan is easy! It feels good to see how you’re helping the causes you care about. If you need help planning your giving, you can contact a philanthropy expert at 970-641-8837.
