Give Your Best
Money|December 2016

At Year’s End, a Slew of Charities Devoted to Worthy Causes Reach Out for Your Donation. Follow These Steps to Maximize the Positive Impact of the Money You Hand Out—and Minimize Your Tax Bill Along the Way.

Kerri Anne Renzulli
Give Your Best

This holiday season, you’re likely to open your wallet or purse not only for your loved ones but also for charities and causes you’re passionate about. December is Americans’ peak month for funding nonprofits and their activities: education, the arts, social welfare, disaster relief, and more. And we’ve never been more generous. Individuals’ contributions hit a record $265 billion in 2015, according to the annual Giving USA report. This year Americans are expected to donate even more, as has happened every year since 2009.

You want your generosity to pay off, of course. “It is one of the best feelings—to know with confidence that your giving will make a difference,” says Katherina Rosqueta, executive director of the University of Pennsylvania’s Center for High Impact Philanthropy. To help you gain that confidence, MONEY has asked experts how to make your giving practices more effective in three key areas: choosing charities, making gifts, and reaping the tax benefits you deserve. Turn the page to read their wise advice.

Choose Right

THE FIRST CHALLENGE IN Maximizing the impact of your charitable donation? Finding an organization that not only operates in the area you’re passionate about but also will use your money well. “People don’t always distinguish between a great cause and a great nonprofit,” says Rosqueta. Follow these steps to make sure you do.

Look Beyond the Name

This story is from the December 2016 edition of Money.

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This story is from the December 2016 edition of Money.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.