Some tips for giving this Christmas season
The Christmas holiday is a time of year that many people think of giving. The phrase “Charity begins at home” could not be more truthful than it is here in Lodi. Americans are known for our generosity, and in Lodi we embody this giving attitude. If you are involved in our community at all, then you know just how incredibly generous our community is.
There are only three things you can do with money: save, spend and give. Personally, I believe that you should do some of all three. But money isn’t the only way you in which you can give. A pastor friend of mine always refers to time, talent and treasure.
Charities can always use more money to be sure, but ask anyone who is working with or involved with leading a nonprofit and you will find out that in addition to money, they need time from volunteers, and technical and business skills which you may possess.
Being a financial professional, I can assist with financial statements and budgets. If you are in the construction trades or an architect, you may be able to offer insight on new buildings or local code restrictions concerning existing facilities. Perhaps you can assist in writing grant requests.
These and many other skills are not just helpful but crucial needs in the nonprofit world.
Of course, there are some questions to consider before deciding which charity to support. First, you should have a passion for the work which the charity performs. Do you believe in the mission? People who consider volunteering already have a heart for helping and giving, but if you are involved in something that ignites your passion, how much more rewarding will that be for you, the charity and the community which it serves? Charities can help people, animals or the environment. So what is your passion?
You should consider the credibility of the organization. There are any number of resources which can help you do this. Here are some of the bigger watchdogs and evaluators:
• Guide Star, www.guidestar.org
• Charity Navigator, www.charitynavigator.org
• Better Business Bureau’s Wise Giving Alliance, www.give.org
• Great Nonprofits, www.greatnonprofits.org
Take a big picture look at the charity and the good they do. Do not only look at the cost of the fundraising or the CEO salary, as those considerations are too narrow.
Also, know that you will not find information about a local charity from the above listed resources. For that you need to look closer to home.
For a local organization, you may want to speak to people working within the charity itself. Speak to family and friends who may be familiar with the charity, your church, our local Chamber of Commerce, or perhaps the people who are receiving benefits or aid from the group which you are interested in participating with.
Is the charity a true nonprofit? Do they have 501(c)3 status from the IRS? This is important if you are looking for a tax deduction for your gift.
If you are retired and you are taking Required Minimum Distributions (RMDs), then you may be able to reduce taxable income by making Qualified Charitable Distributions (QCDs) to your favorite charity. I could write an entire article on this alone. Please make sure to
contact a financial advisor and tax professional to see if this is an option for you.
Many organizations may be referred to as charities and do good — even great — work in the community but may not actually have nonprofit status. A charity should be transparent and accountable. You should be able to contact the board and see the financials. You could visit if there is a brick and mortar location. Mind you, not having a physical location does not negate the value of the work the organization may be doing. Remember the big picture.
There are far too many wonderful charitable organizations to list them all out here. The Lodi Community Foundation (www.lodicommunityfoundation.org) advocates building a sustainable community, has 35 local charitable funds which you contribute to, and can assist you in creating an endowment for your favorite charity.
If you really want to do some deep research before picking your charity, you could apply for the 2017 Leadership Lodi program. They are accepting applications now. This program is offered through the Lodi Chamber of Commerce, and is a one-year, one-day-per-month commitment.
Participants become part of the process by learning about numerous nonprofits and then deciding on a specific nonprofit project to complete as a team. It is very rewarding, plus you get to meet many of the leaders in local business, city government, police, fire, health care, agriculture and more.
Admittedly, as a graduate from the Class of 2014, I am a little biased. Contact the Lodi Chamber of Commerce at 209-367-7840 or email frontdesk@lodichamber.com for
more information.
In closing, ask yourself these questions: What are you passionate about? What skills might you be able to offer an organization? How much time can you give? Do you prefer to work on a local level or one that has further reach? In this season of giving, how can you make a difference? Until we talk again, be well.