The Year-End Dash for Charitable Giving!
Between Christmas Day and New Year’s Eve, people are making that last dash to send a charitable donation before the year-end.
If it’s the first time you’re making a charitable donation, with approximately 85,000 charities to choose from in Canada, your options are endless, especially if you’re unsure about where you want your donation to go!
With approximately 85,000 charities to choose from in Canada, your options are endless.
Charlotte and her husband Matt were in a similar situation.
They had planned carefully to sell the business and prepare themselves for the next adventure life had in store. They also knew they wanted to make a sizable gift to charity with the proceeds of the sale. However, they were unsure about the specific charities or the amounts they wanted to send… And, it was nearing the end of the year.
All these decisions made it hard for them to start giving. “We didn’t know where to begin,” says Charlotte, “until a friend referred us to Abundance Canada.”
After discussing their charitable giving options with a gift planning consultant, Charlotte and Matt decided to open a flexible gifting account – like a savings account for your charitable giving – with Abundance Canada.
Once the account was opened and funds were added, Charlotte and Matt were able to receive their donation receipt for the amount in their account that year. This then provided them with the time they needed to think about where the funds would be sent.
Relieved, Matt said, “Once the pressure to donate by year-end was removed, we really enjoyed working out the specific details and plans for donations to various charities over time.”
Enjoy the process
People are often surprised to learn that they don't need to have all the details of their charitable giving worked out immediately.
They don’t even need to know exactly where or when they will make their charitable donations over the long-term.
A simple solution to consider is opening a flexible gifting account. You benefit from a donation receipt in the same year funds are added to the account, which gives you time to decide when and where funds are sent to charity.
A double bonus is Abundance Canada can disburse your charitable donations to charity at no extra cost to you!
Contributed by Marlow Gingerich
Gift Planning Consultant