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Tips on giving wisely
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- Budget your Giving.
Budget your philanthropic giving, just as you would your other
obligations.
- Be an informed Giver.
Don't be afraid to ask questions when you're asked to
give, including the specific name of the solicitor and his or her
relationship to The Minuteman Foundation, Inc., and other important
information.
- Keep the right records.
For gifts of less than $250, a canceled check or credit card
statement is sufficient for IRS requirements. For larger gifts,
you'll want to get a properly worded receipt from the charitable
organization as a confirmation of your tax deductible contribution.
The Minuteman Foundation, Inc. will mail receipts to all donors.
- Be aware of how much of your gift is really tax
deductible.
If you receive a premium in exchange for your gift (such as a
book or a dinner), the amount of your tax deduction is reduced by
the fair market value of the premium. The Minuteman Foundation will
announce the value of the premium included in our activities.
You may turn down the incentive item, if you wish to claim a
deduction for the full amount of your gift.
- Ask about matching gifts.
Many employers match gifts by employees and retirees. Be sure to
ask your employer about making your gift go further
- Consider alternative forms of giving.
Don't overlook the benefits to you and your cause that can be
received from bequests, charitable gift annuities, gifts in kind,
endowments and many other creative forms of giving. Ask your tax
advisor or attorney to help you make the best plan for you and your
family.
- Volunteer
In addition to financial support, consider giving your time and
talents. Not only will you help the Minuteman Foundation meet its
goals, but you'll
also make contacts, hone your skills, and learn more about the
charitable cause to which you would be committing your time and money.
- Don't forget that you have the right to say NO
Give generously when you can. If you're unsure or feel
uncomfortable, don't be afraid to say no. Or, ask for more
information, and take more time to think before making your
decision.
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