Give without purpose
October 30, 2014
When giving at year-end, the time constraints, solicitations from your favorite charities, and looming tax considerations can feel overwhelming, leaving many donors rushing to make donations late in December.
But how can you give to a charity's greatest need during this time of year? Give without purpose.
Consider what your charitable gift is intended to fund at the recipient charity. Is the donation for a specific project or an initiative you heard about from friends? Is it in response to a charitable solicitation?
At year-end, most nonprofit organizations are pushing to meet an annual budget, so donations toward their appeals or for general operating expenses are most beneficial. Unrestricted gifts such as these enable a charity to choose where and how money will be used--whether for a major development, a new employee, or the office electric bill. It also gives the charity flexibility and security to support its mission by planning initiatives and staffing for the following calendar year.
According to a Vanguard Charitable study, over 80% of charities prefer unrestricted gifts, and our donors have been honoring that wish.
Therefore, you may serve the greatest charitable need at year-end by simply giving without specifying a purpose or use for donated funds. At Vanguard Charitable, that means selecting General operating expenses in the dropdown menu under Grant purpose when recommending a grant online.
With all the obligations we have at this time of year, make giving simple and effective for you and your favorite charities by giving without purpose--but for the mission.
*Year-end includes grants issued from Vanguard Charitable in November and December 2013 and January 2014.