3 Ways to Maximize Your Charitable Giving on #GivingTuesday

#GivingTuesday refers to the Tuesday after Thanksgiving and was a movement started in 2012 by the 92nd Street Y and the United Nations Foundation. This national day of giving was a response to the commercialization and consumerism that created Black Friday and Cyber Monday. #GivingTuesday has seen significant growth since 2012. Last year, it brought in over $45 million, a 63% increase over 2013. While this is impressive growth, it is merely a rounding error in comparison to Black Friday and Cyber Monday which are expected to bring in $13 billion in sales in 2015. Let's help flip that script and raise more money for charities in 2015!

Here was the impact of #GivingTuesday in 2014 (source: Case Foundation):


 Over the past two years, Runnymede Capital Management has helped raise over $10,000 for the March of Dimes. Every day, thousands of babies are born too soon, too small and often very sick. With 1 in 10 babies born prematurely, the US has the worst prematurity rate among developed nations. This has to change. Let's help the March of Dimes and the thousands of other charities on #GivingTuesday. Make a donation today!

Here are three tips to help maximize your charitable impact on #GivingTuesday

Tip 1: Donate stuff that you don't use

While most donations today will be online, don't limit yourself to making cash donations. Make an impact by donating unused stuff from around your house. Last year I moved out of my condo and took the opportunity to donate clothing that was buried deep in my closet. Charities like Goodwill and the Salvation Army will even pick up your donations curbside. Just remember that tax laws do NOT allow charitable deductions for contributions of household items and clothing NOT in used condition or better; in other words, your stuff better be in decent condition, not worthless junk.

Tip 2: Double your impact with company matching

If you work for a larger corporation, don't forget to look into whether they will match your gift. About 65% of Fortune 500 companies match employee donations, yet the median employee participation rate for matching gift programs is just 9%. That leaves $6 to $10 billion in matching gift funds unclaimed every year, according to an estimate by Double the Donation. Those dollars could have had a huge impact for non-profits. Take the extra minute or two to see if your donation can have twice the impact.

Tip 3: Give highly appreciated securities

Since 2009, the S&P 500 has more than doubled and many investors are sitting on significant unrealized gains. While investors may be tempted to take some risk off the table, they also don't want to pay a huge capital gains tax. Donating assets such as appreciated stock that has been held for a year or more is among the most tax-advantaged items to grant to charity. Because the securities are donated rather than sold, capital gains taxes are not owed on the appreciation. Therefore the more appreciation the securities have, the greater the tax saving will be. It's a win win situation.

Will you be donating today? Do you have any other tips? Please leave them in the comments below.


Share This Story, Choose Your Platform!

About the Author: Chris Wang

Chris Wang


Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.-"Runnymede"), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede.  Please remember that if you are a Runnymede client, it remains your responsibility to advise Runnymede, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Runnymede's current written disclosure Brochure discussing our advisory services and fees is available for review upon request. Please Note: Runnymede does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Runnymede's web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Search Website

Annuity Review Database

Follow Our Podcast

Google Podcasts
Apple Podcasts

Recent Posts