“Tricks” for “Treating” the Charity of your Choice

Halloween is one of the most generous holidays on the calendar. People give away candy, toys and trinkets with no expectation of getting anything back other than the smiles and “thank-you’s” of grateful kids in colorful costumes. For one night, kids get to gorge themselves on sugar while they frighten their siblings, friends and neighbors…and in some cases, they can contribute to charity while they walk the block in search of their bounty.

For years now, Trick or Treat for UNICEF has been a wonderful way to raise money for hungry children around the globe. Operation Gratitude will take leftover candy and turn it into care packages for the men and women of the US Military all over the world. Goodwill happily takes used Halloween costumes (in good condition) that they resell to benefit their communities and help people find work.

There are several ways to do good on Halloween, but what if you’re interested in making charitable donations a year-round activity? It can be done, and to you and your favorite charity’s mutual benefit! Just follow these “tricks” so you can “treat” a deserving charity to the money they seriously deserve:

Trick 1: Check out your charity

Want to be sure your charity is worthy of your hard-earned dollar? Take a look at their rating and information on Charity Navigator or Charity Watch. These sites help you find reputable charities that serve the needs your community might be facing, or the cause that’s near and dear to you.

Trick 2: Take stock (or give some to your charity)

Yes, you read that correctly: charities may be able to accept stocks you own. Gifting the stock to your charity means no capital gains tax for you and, better still, you can deduct the value of the stock later on during tax season. Keep track of your charitable giving; if the amount you contribute to charity outpaces your standard deductions for the year, you’ll get a tax benefit for your generosity.

Trick 3: Consider a Donor Advised Fund

Let’s say you have a tidy little nest egg and you want to give it to a charity, but not all at once. Talk to an accountant about setting up a donor advised fund, or DAF. You can get an immediate tax deduction without giving all the money to the charity at one time, meaning they will have a dependable flow of cash from you for the future and you’ll get to reap the incentives.

Trick 4: Big or small, charities need it all

Maybe you don’t have a lot of money to give to your chosen charity. That’s okay…charities can use other resources you might have. Let’s say you have property in your name, like a car title or even a deed to a piece of land you might not want or need. You can work with charities to donate the full value of your property to them, and they’ll often help with costs like closing costs, fees or transportation costs. Charities may get more value out of an old car or a plot of land someone left you than you would and you can get the tax benefits of the sale or transfer of the property.

You can also give a little bit of money with each paycheck. Consider setting up a payroll deduction through your employer and you can be sure that every time payday rolls around, your charity gets a little something special.

If you don’t have a lot of assets, charities will often be glad to have something that could prove just as valuable: your time and energy. Often, charities need help with projects, or with day-to-day operations like clerical work, cleaning, upkeep, drives, etc. Donate your service to that charity and you’ll not only get to help them out, you’ll be given the satisfaction of work worth doing.

As you prepare for a night of spooky fun, think of the many ways that giving back to your community can enrich your own life and the lives of those in need. From the costumes to the candy, from spare change to stocks and savings, charities can benefit from your kind contributions and pass that spirit along, through Halloween and beyond.