Part of my job as a financial advisor includes helping families make the most of their financial resources. I often recommend they contribute to a Roth IRA because of the tax-free growth or max out their retirement plan contribution so they can benefit from the tax deduction and possibly a company match.
But what about your charitable contributions? What’s the best way to make the most of the money you share with others?
Thursday, November 12th is Give To The Max Day 2015. It’s Minnesota’s way to make the most of the financial gifts you make to your favorite schools or charities. Last year on Give To The Max Day, over 60,000 Minnesotans donated more than $18 million to their favorite causes. Now that’s Minnesota nice!
Since many organizations also offer a matching contribution, Give To The Max Day may be an opportunity to double the size of your gift. Like a company match on your 401(k), when you make a donation via the GiveMN website on Give To The Max Day many organizations will match your contribution dollar for dollar.
That’s the ticket. To sweeten the pot, GiveMN will randomly select one donor each hour throughout the day to receive a $1,000 golden ticket for their charity. Plus, two additional tickets will be selected for super-sized gifts of $10,000.
Do your research. Need to know more about an organization before you fork over your hard earned cash? Check out Guidestar. Guidestar has information on more than 1.8 million IRS recognized charitable organizations. Other resources include Charities Review Council and Charity Navigator.
Paws for thought. If you are still looking for a high quality organization to support, let me help you out. Long time readers of this blog know that I am a big supporter of Can Do Canines. Last year they raised over $40,000 through Give To The Max Day. This year their goal is $50,000. $50,000 is enough to provide not one but two assistance dogs to a person living with a disability in our community.
All contributions will be matched dollar for dollar (up to $10,000) and any contribution, no matter what size, will help change someone’s life forever. To learn more, visit their GTTMD page by clicking here. Or watch the video below:
Regardless of who you give to or how much, make the most of your charitable giving this year by giving to the max on November 12.