why you should listen

Laura cropped
What prompts you to give? The head or the heart?

On episode 11, “The Warm Glow of Giving,” we’re joined by Laura MacDonald, CFRE, president of Benefactor Group, nationally renowned for its innovative nonprofit consulting services that support fundraising, philanthropy, volunteer leadership, leadership development, talent management and executive transition. During this episode, you’ll learn about what motivates most donors to participate in the $358 billion charitable giving market. Laura points out current strategic philanthropy techniques employed by businesses in order to influence workforce development in both value alignment and loyalty. Additionally, the episode gleans the importance of nonprofit organizational impact, “unrestricted” giving, and corporate challenge matching campaigns – as best practices for donors and their nonprofit recipients.


about the benefactor group

In 1999, Laura MacDonald established Benefactor Group to serve the needs of those of who serve the common good: nonprofit organizations, donors and civic leaders. Since then, Benefactor Group has won a reputation for innovative nonprofit consulting services that support fundraising, philanthropy, volunteer leadership, leadership development, talent management, and executive transition. Visit benefactorgroup.com to learn more.


articles & insight

for donors

Tis The Season: Charitable Giving Through A Donor-Advised Fund – any charitable vehicles are available, including (but not limited to): Charitable trusts, private foundations, donor-advised funds, and outright gifts. But keep reading to learn what to consider when identifying the best method for you.

Charitable Giving Is Good For The Heart, The Soul And The Tax Return – This time of year seems to be devoted to commercialism, which is not necessarily a bad thing. In fact, the benefits of spending money on that new big screen television, tablet or blender is a great way to support the economy as well as your favorite local businesses. As the “spirit of giving” continues to shape your holiday spending habits this year, don’t forget that there is another way to make a difference with your dollar – charitable giving.

Tips for Making Sure Your Donations Are Tax Deductible – If you have itemized deductions on your personal tax return, you’ll have to keep in mind certain tax rules before you claim the amount you donated. Read on to learn more.

Don’t Let Tax Incentives Determine How You Donate – Giving to your favorite charitable organization can be very rewarding, beneficial to the community and, (for many taxpayers) partially subsidized via a deduction on your personal income tax return. Depending on your circumstances, there are a number of ways to take advantage of tax laws to “get more bang for your buck.” But before you donate, you should always have a solid understanding of tax ramifications. Read on to learn more.

Is It A Charity Or A Scam? – Every year the Internal Revenue Service (IRS) warns taxpayers about what it considers to be the “Dirty Dozen” of tax scams. The annual report identifies schemes that appear to be more prevalent during filing season. And while you may be inclined to use some of your refund to help a worthwhile charity, the IRS reminds taxpayers to remain vigilant against scammers “masquerading as a charitable organization to attract donations from unsuspecting contributors” – particularly this time of year when scammers appear to be more active. Read on to learn more.

What Tax Benefits Exist When You Donate To Charity? – Those in a higher tax bracket might be able to benefit from a “double play” of tax benefits. Keep reading to learn more.

Don’t Get Blown Away By A Cash Windfall – Before you make a move with your money, step back and consider your options. The truth is, there’s no right way to spend it, as no two financial situations are exactly alike. But, if you keep reading, you will learn these four steps that will help you decide what’s best for you.

5 Tax Deductions To Ease Your Business’s Tax Burden – For businesses still working on tax prep, there is still time to claim some valuable deductions. Read on to discover five deduction options to help small businesses make the most of the 2015 filing season.

How Do You Keep Your Tax Documents Organized? – Read this article to learn you can keep your tax documents organized and hopefully experience a few fewer headaches with Uncle Sam’s name on them.

Is It Charity Or Is It Advertising? – Do you get approached every year by non-profit organizations, asking you to donate money for one event or another? Even if the representative at the organization tells you the donation is a charitable deduction, you should be careful how you classify this expense.

for not-for-profit organizations

20-Year-Itch Hits Not-For-Profit Accounting – The Financial Accounting Standards Board (FASB) recently issued an exposure draft of proposed new standards that will bring about some significant changes for those working in the not-for-profit industry. Read on to find out what lies ahead.

Let’s Play Doctor With Your 990 – Have you ever been asked to review a draft of your Form 990 only to wonder what it is you should be looking for? You’re not alone. Think of this review like an annual physical.

Are Your Fundraising Efforts Effective? – At a time when many organizations are experiencing funding reductions that threaten to alter the sustainability of their programs, some not-for-profits are reconsidering their proven fundraising strategies in favor of new tactics to better target the next generation of potential donors.

Study: Nonprofit Organizations Lack Governance Structure, Processes – If you had to guess, how strong do you think your nonprofit organization’s policies are? If you’re unsure or have that gut feeling that they could be stronger, you’re certainly not alone. After surveying more than 900 directors of nonprofit organizations, the Stanford Graduate School of Business, in collaboration with BoardSource and GuideStar, reported some concerning findings in their 2015 Survey on Board of Directors of Nonprofit Organizations. Keep reading to learn more and to discover what resources are available to you.


and so much more …

There is a wealth of information available to not-for-profit organizations available in our Accounting Article Library. Take a look and choose the “not-for-profit” option in the “industries” drop down menu.


charitable giving tax help

If you’re looking to expand your charitable giving, contact Rea & Associates. Our team of Ohio tax professionals can help you develop a tax strategy that meets your financial goals and needs.


transcript

Click here to read the entire transcript of Episode 11: The Warm Glow of Giving