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Keyword Exclusive – Tips For Wise Giving

Supplement to Money Matters “Checking out charities”

Here are some tips for wise giving, courtesy of the Better Business Bureau and The Wall Street Journal:

  • Always make contributions by check and make the check payable to the charity, not to the individual collecting the donation.
  • Keep records of your donations, such as receipts or canceled checks, to document your charitable giving at tax time. The value of your time as a volunteer is not deductible; out-of-pocket expenses directly related to your volunteer service, including transportation costs such as gasoline, are deductible.
  • Don’t be fooled by names that look impressive or that closely resemble the name of a well-known charity.

Scam Alert: One of the most common types of telemarketing scams involves solicitations from people who claim to be calling on behalf of the local police or fire department. Ask that information about the solicitation be mailed or e-mailed to you rather then pledging over the phone if you have any doubt about the legitimacy of the caller

To read the Kentucky Living November 2004 column that goes along with this supplement, click here: Money Matters – Checking out charities

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