If you talk to some of the wonderful people who have made tax-deductible charitable donations to our 501(c)3, a nonprofit charity for children with cancer and other serious conditions and disabilities, you’ll find that they all have different reasons for giving to our program. But whatever your reasons for making a donation to charity, you can expect to receive a number of benefits.
We’re not talking about getting a thank you letter from the organization you have chosen to support. We’re not even talking about some of the perks that come with supporting a cultural organization – like first choice seating at events. Whether you write a check to support children’s charities like Deliver the Dream, musical organizations like The Symphonia or any of the other worthwhile nonprofits in our community, you can expect to get benefits that go beyond their gratitude.
As you are probably aware, your gift to our nonprofit charity for children may be tax deductible. “If you’re giving at levels above the standard deduction, you can receive a tax deduction for the fair market value of your gift,” Rebecca Moffett, the chief strategic planning officer with Vanguard Charitable says in a blog posting on the benefits of charitable giving. If you’re interested, you can see the deduction limits against your Adjusted Gross Income (AGI) on Vanguard Charitable’s website.
The experts at Vanguard Charitable go on to clarify other possible financial benefits of charitable donations, including:
“Feelings may be subjective, but I find it interesting that researchers have found measurable psychological and physiological benefits to giving,” Moffett says in her blog posting. “Beyond the satisfaction donors feel, research has found there may be more subtle, yet still meaningful, benefits to the give.”
Among the benefits she is referring to are:
We love the idea that the wonderful people who have made the decision to donate to our kids’ charity will receive these benefits. We know their charitable donations benefit the children in our programs. It warms our hearts to know that those who give so generously will also benefit themselves.