Experienced donors as well as first-time givers often feel overwhelmed by charitable tax laws and administrative requirements, and inundated by the choices of where and how to give.

Below are some tips to make your own charitable giving more efficient and effective. To learn more, contact the Trust's Philanthropic Services department:

• Give Like an Expert
• Be Informed
• Use the Tax Laws Wisely

Give like an Expert

• Develop an annual giving budget. – Determine an amount you want to give annually.  This budget will help you to prioritize and focus your requests.
• Develop a strategy – Focus your giving on an issue or geography to increase impact.  But how to do this?
• Pick the right giving vehicle – Match your goals to your giving options.
  Note: Giving through the Trust may have greater tax advantages than having a private foundation or simply writing checks to your favorite charity.
• Volunteer – Get involved with an organization before you support it.
• Don’t be afraid to say “No” – To groups or organizations that fall outside your focus area.
• Do your research – Or ask us. We know our community’s needs and the organizations working to fulfill them.
• Know what is tax deductible – Goods and services that are part of your contribution, like meals or tickets, are not deductible.
• Take advantage of matching gifts – Many companies match gifts by their employees. Ask about your company policy.
• Keep records – To maintain your giving and see how your giving is evolving.
• Plan today, give tomorrow – Make giving part of your will or estate planning.

Be Informed

• Get to know the Chicago area community – Read about it and get active.
• Volunteer – We can’t say it often enough. It’s the best way to get to know an organization you want to support financially.
• Attend Trust donor events – Our forums focus on community needs and new approaches to them. 
• Encourage friends to join you – Spread the word and broaden your impact.

Use the Tax Laws Wisely

• Reduce taxes now and later – Donating assets while you are alive reduces the tax burden on your estate and makes more resources available for charity.
• Donate appreciated assets – Highly appreciated long-term assets like stock and real estate are deductible based on current value and avoid capital gains taxes.
• Leave a charitable legacy – Some estate planning options can provide a current income-tax deduction. Contact the Trust to learn more.
• Donate your retirement plan – Pension or retirement plan assets can be taxable for your heirs. Make them part of a charitable bequest and leave non-taxable assets to your heirs.
• Convert your private foundation – Tax treatment for a supporting organization or donor advised fund may be more favorable.
• Contact the Trust or your tax advisor – If you have questions.