Give Like an Expert

The Lake County Community Foundation uses its experience and extensive research to help concerned residents put their charitable dollars to work in our community. And because we believe informed givers make the best givers, the Foundation hopes our partnership with you will be a rewarding learning experience. These tips for smart giving will put you on the path to expert philanthropy. If you want to learn more about giving like an expert, contact the Foundation.

Put Charity in your Budget

No one has unlimited charitable resources. As you would with any other financial obligation, include charitable gifts in your budget.

Develop a Giving Strategy

When you have a philanthropic plan, you can focus your charitable efforts where they will have the greatest impact. A giving strategy will help you identify not-for-profit organizations that share your concerns and values. Learn why partnering with the Foundation and building a structured giving plan may be a better way to give back to the community.

Pick the Right Giving Vehicle

There are many ways to give. Depending on your philanthropic goals and desire to participate in the grant making process, some giving vehicles are more effective than others. Be sure to match your charitable goals with your giving options.

In addition, it's important to note that giving through the Foundation may have greater tax advantages than having a private foundation or writing checks to your favorite charity.

Volunteer your Time

Volunteer and get the inside scoop on an organization you are considering supporting financially. Volunteering will give you an opportunity to meet the people who run the organization and witness the results of their efforts.

Don't Be Afraid to Say No

Recognize when you're stretching your resources too thin. You can't give to everyone who asks for your help. If you're unsure about a charitable request, take time to think about it and consider whether it supports your larger philanthropic goals. Or talk to the Foundation — we've researched many Lake County not-for-profits and can advise you on the best use of your charitable gifts.

Do Some Digging

When someone makes an appeal for money, ask questions about their organization, the projects it funds, its tax status and what percentage of its budget goes toward administrative costs. Donors have a number of resources available to research the track record of a not-for-profit organization:

Let us do the legwork for you. The Foundation keeps records on many of our community's charities and can help answer the important questions for you.
Get detailed financial information and profiles of over 850,000 not-for-profit organizations at GuideStar.

Know How Much of Your Gift is Tax Deductible

If you receive goods or services in exchange for your contribution, it will reduce your charitable tax deduction. For example, when you buy a ticket to a charity dinner, you use the amount of your contribution less the value of your meal, as your taxable deduction.

Take Advantage of Matching Gifts

Many companies match the charitable gifts of their employees—sometimes donating double or triple the value of an employee's contribution. Ask about your company's matching policy and recommend your favorite charity for consideration in your company's charitable grant program.

Keep Good Records

When you make a donation to a charitable organization, get a receipt for your gift. Keep these receipts organized and handy for when it's time to itemize your charitable deductions. Or let us help you make organizing your charitable records easier with a systematic giving plan.

Plan Today, Give Tomorrow

You don't have to give a lot away right now to make a philanthropic impact in your community. When you draw up your estate plan, ask your legal advisor about making a bequest, setting up a charitable remainder trust or using other giving tools to benefit your favorite not-for-profit organization.