Trends in Charitable Giving

Trends in Charitable Giving

Whether the economy is expanding or contracting, Americans tend to be consistent with charitable donations.

In 2013, as the U.S. economy continued to stabilize, Americans gave an estimated $335.17 billion to charity. That’s almost $19 billion more than the previous year. 

Americans give to charity for two main reasons: To support a cause or organization they care about, or to leave a legacy through their support.

When giving to charitable organizations, some people elect to support through cash donation. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices:

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How to Give Wisely and Well

How to Give Wisely and Well
Giving to charity has never been easier. You can donate the old-fashioned way--by mail--but you can also donate online, by text, or through social networking sites. According to the National Center for Charitable Statistics, over 1.4 million nonprofit organizations are registered with the IRS. With so many charities to choose from, it's more important than ever to ensure that your donation is well spent. Here are some tips that can help you become both a generous and wise donor.
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Budgeting for Charitable Giving Can Increase Your Happiness

Tithing, or giving 10 percent of one's income or crops to a religious entity, is an ancient practice. In fact, the word "tithe" comes from a derivative of the number 10. Even if you aren't religious, you may still want to follow the guideline of setting aside 10 percent of your gross income for Charitable Giving.
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