Donor Management - Ohio CPA Firm
Maribeth Wright, CPA, a principal at Rea & Associates, joins Mark Van Benschoten on episode 13 of unsuitable on Rea Radio, “The Passion of Philanthropy through Wise Giving.” Subscribe to the podcast on SoundCloud or iTunes today.

On episode 13, “The Passion of Philanthropy through Wise Giving,” you’ll learn the importance of aligning your personal passion through planned giving. Maribeth Wright, CPA, a principal at Rea & Associates and a tax compliance expert for not-for-profit organizations, gives donors a list of digital tools to better vet and select various organizations they are considering as a viable not-for-profit recipient. Mark Van Benschoten, CPA, CGMA, principal, director of not-for-profit services at Rea and host of the podcast, and Maribeth passionately discuss the importance of healthy not-for-profit organizations making profits, being fiscally responsible and holding reserves back for growth and challenging economic times. The duo also talks about critical insights on key regulation issues in order for nonprofits to remain tax-compliant. Click on the media player above to start listening to this episode now. Or scroll through this page to gain access to additional resources for donors and not-for-profits, alike.

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Gifting appreciated stock

Business or individual planned giving strategies

Donor-Advised Funds

Charitable giving as a tax strategy

Choosing the “right” nonprofit

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GuideStar

The mission of GuideStar is to revolutionize philanthropy by providing information that advances transparency, enables users to make better decisions and encourages charitable giving by providing users with as much information as possible about each nonprofit’s mission, legitimacy, impact, reputation, finances, programs, governance, and more.

Wise Giving

Wise Giving is a resource that helps donors and nonprofits increase the impact of their work in communities worldwide. The organization is dedicated to helping individuals, foundations and organizations maximize their impact through wise philanthropic investments and greater organizational effectiveness.

Charity Navigator

By guiding intelligent giving, Charity Navigator works to advance a more efficient and responsive philanthropic marketplace, in which givers and the charities they support work in tandem to overcome society’s most persistent challenges.

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Dos and Don’ts of Gifting & Donations – People choose to make donations to organizations and initiatives for many reasons. We learned in episode 11 of our podcast: “The Warm Glow of Giving,” that charitable donations are primarily guided by the heart and that 87 percent of all donations are made by individuals. That being the case, I believe individuals (and businesses) should embrace strategy (the head) when it comes to writing a check to a worthy cause as well – and that brings us to utilizing the lessons we learned in episode 13. Read on to learn how to make your donation more effective.

Is It A Charity Or A Scam? – Remember when writing a check to a charity left you with a feeling of satisfaction and accomplishment? Unfortunately that feeling has been replaced with vulnerability and uncertainty as soliciting for fake charities has become a common way for scammers to prey on the generosity of strangers. Before you tear that check from your checkbook, take another look at the “Pay to the Order Of” line. That person who just spent the last 15 minutes explaining why your donation is critical to their organization might have less-than-admirable intentions. Read on to learn more.

5 Tax Deductions To Ease Your Business’s Tax Burden – Are you looking for a way to save a little bit more on your tax bill? Making a donation to charity may be the way to go. Read on to learn more about this popular option.

All Charitable Donations Are Not Equal – Just because you made a monetary donation to an organization in the name of charity, doesn’t mean the IRS will view your actions as such. In order to claim the deduction on your personal or business income tax return, there are certain rules you must adhere by. Keep reading to discover the rules.

What Does “Good Governance” Mean For Nonprofits? – Field auditors will use Form 990 to look for disclosures, or lack of thereof, that indicate excessive compensation, political intervention or private benefit. The IRS believes good governance practices lessen the risk of misuse of tax-exempt status and charitable assets. Read on to learn what you should consider to be the best governance tips for the nonprofits you support.

Nonprofit Year-End Reporting To IRS Now Requires More Involvement of Board Members – revisions to the Form 990 are intended to help organizations provide greater transparency about their activities to the public. Because Form 990 must be available for public inspection, it provides an additional way for tax-exempt organizations to present themselves and their mission to various audiences. However, the new form also results in a much more labor-intensive reporting process for nonprofit executives and board members. Read on to learn more.

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 in our industry; and there has been some speculation that these changes may take effect as early as next year. In any case, here is a brief overview of what you should expect once the standards are approved.

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.

review the transcript

Read the full transcript of episode 13: “The Passion of Philanthropy through Wise Giving,”