The holiday season is a time when many people carefully consider their philanthropy. You may receive year-end appeals from organizations you have previously supported. Perhaps you’re curious about other organizations that could benefit from your philanthropic dollars or concerned about how tax changes impact your ability to itemize deductions.
A variety of resources are available to help answer your questions and inform your decisions.
One well-known and well-regarded site for objective ratings and reviews on charities is Charity Navigator. With ratings on over 9,000 charities, Charity Navigator provides an A-Z Directory and the ability to search its ratings, in addition to Top Ten Lists highlighting Most Followed Charities, Charities Worth Watching, Charities Expanding in a Hurry, and more.
For those interested in a more philosophical discussion on philanthropy, check out Effective Altruism. The Effective Altruism movement focuses on using evidence and analysis to identify causes with the highest impact possible. They consider factors in their analysis such as causes being great in scale, highly neglected and highly solvable. Current areas of focus within the Effective Altruism movement include fighting extreme poverty, animal suffering and improving the long-term future of the planet.
If you’re in need of information on the charitable tax deduction, check out this guide from Fidelity Charitable. It answers 7 commonly-asked questions about charitable tax deductions, including information on documentation, limits and tax brackets.
While you should always consult your tax professional about your individual situation, these resources can help you assess your interests, identify organizations worthy of your philanthropic dollars, and help you evaluate your tax situation in the final two weeks of 2018.