It may take time to choose the best charities to donate to. There are many great organizations, and you’ll want to be fully informed even if you’re focused on just the ones that align with your donation mission.
Donating funds, like the giving money or time at iConnectX, can allow you to be a more effective donor. A donor-advised fund is a charitable account that is dedicated solely to support the charities that you care about. You are eligible to take an instant tax deduction when you donate money, stocks, actual estate or non-publicly traded property to a Giving Account.
Then you can suggest grants from the account to charities that you want to assist on any schedule that works for you, offering you the time you need to look for the best charities for your fields of concern.
While you decide which charities to support, you can invest the account balance according to your preferences and increase tax-free so you can give more. No matter how many charities your donor-advised fund supports, you will only have one tax receipt to handle. And unlike establishing your private foundation, it does not involve you to employ employees or investment managers to have a donor-advised fund. Finally, remember this choice: donating money is not the only way you can affect the charities you have selected.
You can see the difference your gifts create firsthand by sharing your time and talent, plus your company and social interactions with these organizations.