Charitable giving doesn’t need to only take place during the holidays. Spreading out your support over the course of a year ensures the organizations you support are receiving steady, ongoing income and decreases the organization’s stress of year-end fundraising. With that in mind, instead of simply giving a one-off gift, consider working donations into your regular monthly or weekly spending. Harbor Crest founder and CEO Mike Hennessy spoke with CNBC Make It about how you can make charitable giving part of your year-round budget.
Hennessy recommends looking into matching programs. Many large employers offer matching programs for your charitable giving, but sadly, not many people take advantage of this valuable benefit. Only a small percentage of employees submit matching gift requests. This is a quick way to multiply the impact of your donation, so check your workplace intranet page or speak with HR to find out if your employer offers a program. “This one additional step would have a huge impact on the causes you hold dear,” Hennessy said.
As well as looking for matching, other tips for charitable giving year-round include: get organized; make charitable giving part of your monthly or weekly spending; make it automatic; consider a donor-advised fund; and look for other ways to contribute, such as volunteering. Read more of Mike Hennessy's CNBC Make It interview on charitable giving here.
Since its founding in 1989, CNBC has become the recognized world leader in business news. It provides real-time financial market coverage and business information to 410 million homes worldwide, including more than 90 million households in the United States and Canada. CNBC Make It first launched in 2016 as a vertical of CNBC.com and quickly became the largest section of the site. It relaunched as a standalone website with a distinct look and feel in early 2019.