With costs increasing, everyone wants to stretch their dollars. Whether you are in the grocery store, paying bills or giving to charity, we all want our money to go further and have a greater impact. While the Rescue Mission of the Mahoning Valley can’t help you with tips on the best price for eggs, or how to cut your electric bill in half, we can share ways that your generosity to non-profits, like Rescue Mission of Mahoning Valley, can be maximized. Here are four quick tips.
Tip #1 Automated Recurrent Giving
After you have researched and become comfortable with a charity that helps people experiencing homelessness, please consider setting up automated repeat or recurrent gifts at an interval that works for you. Not only does this “set it and forget it” method reduce your costs (checks, envelopes, stamps and your time), it impacts the charity in a few ways too. Recurrent gifts help the charity to budget, providing an estimate of future gifts for providing emergency overnight shelter and meals. And setting up your recurrent gift from your checking account or with the charities giving tool also reduces the number of pieces of mail that the charity sends out, and that means more of your contribution goes straight to helping those who need it. For Rescue Mission of Mahoning Valley’s giving platform, click here.
Tip #2 Watch for Matching Gift Opportunities
Many charities work with donors to offer a challege or a matching gift opportunity. Those times when your gift is matched one for one to the charity, make a big impact! For example, Rescue Mission of the Mahoning Valley is generally blessed with a company offering a challenge or a match each May and at year-end. Another thought… at your next staff meeting, ask your employeer if they have a matching gift program. Many employers have incentive programs available to their teams that will make your giving have a greater impact!
Tip #3 Set up a what? Tell me about Donor Advised Funds.
A donor Advised fund (DAF) is an easy and tax-efficient way to manage charitable giving when helping those who are homeless. Essentially, you can receive an immediate tax benefit for your charitable contribution to a 501c3, and then recommend “ grants” from your fund to your charity of choice. Next time you meet with a financial advisor, be sure to ask about DAFs or learn a little more here.
Tip #4 Consider remembering your favorite charity in your will
Because of your generous spirit, you may be interested in continuing to share healing and hope with people who are down and out beyond your lifetime. When you remember your favorite charity in your will or estate plan, you ensure that your spirit of compassion continues blessing others tomorrow and beyond. One way to do that is by including the following statement in your will or trust: “I (your name), of (city, state, zip), give, devise and bequeath to (name of charity), (city), (state), (percentage of your estate or description of property) for its unrestricted use and purpose.” To submit a bequest inquiry to Rescue Mission of Mahoning Valley and learn more, click here.
And it goes without saying that the most important and effective way to stretch the impact of your donation is to pray as you give. Please ask the Lord to provide wisdom. Ask that the contribution, the donor and those who will benefit will be blessed.