alternative to omnicef claritin preis hydrea 500 mg caps 100 ampicillin 250 mg vial kamagra 100mg für frauen alternative to amlodipine aka norvasc celexa 10mg side effects depakote 250 mg uses parlodel 10 tadalis 20mg tablets seroquel alternative drugs rosuvastatin 2015 alternative purinethol glycomet 850 mg side effects what is a good alternative to risperdal alternative prednisone alternative to mirapex for parkinson alternative to omnicef cialis auch für frauen what is ciplox 250 mg used for fosamax 10 renagel 500mg adalat preis retin-a cream alternatives maxalt 10 mg side effects tadalafil 20 mg online pulmicort ersatz zoloft preisvergleich alternative zantac ampicillin 250 mg wirkt viagra bei frauen roter ginseng preis duomox 500 cena doxycycline alternatives lyme procardia 10 prasugrel hydrochlorothiazide 50 mg phexin 750 mg during pregnancy zovirax suspension ohne rezept alternative metformin cefixime 200mg dosage compazine 10 mg oral tablet ginseng bei frauen glucophage 1000 mg aspirin 200 mg propecia nebenwirkungen bei frauen reglan kaufen actonel 35 mg kaufen bactrim alternative treatment cialis super active plus kaufen celexa 10mg side effects dulcolax tabletten preis tinidazole 500mg side effects avapro 500 mg ashwagandha rasayana kaufen ginseng bei frauen cialis auch für frauen metformin 500mg twice a day alternative promethazine aspirin 500 mg bayer actonel 35 mg kaufen natures aid celadrin 500mg alternative zantac inderal kaufen online lipitor alternatives high cholesterol alternative to risperdal autism exelon 1 5 mg preis trental 400 preise ortho cyclen alternatives crestor 10mg What is Your Giving Budget for 2011? - Collins Group
Skagit Valley Hospital

What is Your Giving Budget for 2011?

by

divider

Lately, I’ve spent time lately reviewing my 2010 giving plan and setting plans and budgets for 2011. I generally start prep work for my tax return in January — preparing my list of charitable donations and organizing the related receipts takes longer than the whole rest of my return! Many years ago, my husband and I made the decision to give 10 percent of our income to charities and put 10 percent into retirement savings every year. At first it felt like a stretch, but we have generally been able to exceed those goals.

So, I wasn’t too surprised when I received a letter from the IRS asking for a modified audit of my 2008 tax return. We are outliers in our income bracket for the amount we give to charity and the number of charities we support. The IRS did not want to audit our complete return; they just wanted documentation of the 40 charitable gifts we reported that totaled over 10 percent of our income.

Benchmarking is another aspect of my annual January tasks. What can I learn about what other households in my income bracket give? The best source for this information is research commissioned by Bank of America Merrill Lynch and conducted by the Center on Philanthropy at Indiana University (COP). This past November, COP released the “2010 Study of High Net Worth Philanthropy.” If you are involved in major gifts in any way, as a donor, nonprofit leader, or a fundraising professional, and have not yet read the 75-page report, please make it a priority.

Half of all giving in America and 65-70 percent of all individual giving is made by high net worth households (HNWH). So, you may wonder, what is the criteria to be one? In the COP research, a HNWH is a household with income of at least $200,000 annually and net worth of at least $1 million excluding the primary residence. Nearly all HNWHs give, and the amount increases as the level of income and wealth increases. Most high net worth individuals are volunteers as well as donors, and their giving to specific organizations typically follows their volunteerism.

Giving by the wealthiest dropped in 2009 compared to 2007, as did the stock market and confidence in financial security. However, giving as a percent of income did not change significantly except for the wealthiest ($20 million and more in assets) households.

What did I learn about my giving compared to the median giving for other high net worth households in my level? Median giving by all HNWH is only $12,000, but the totals for the wealthiest households are much higher. (Please refer to the full report for more info). Now I understand why we received the letter from the IRS. Our giving is much higher than peers in our income range! For my husband and I personally, it’s not about our net worth, but rather our values. High net worth or not, I encourage you all to give to the best of your ability.

divider

Like this post? Why not share it?

divider

About the Author

Aggie Sweeney

Aggie Sweeney CFRE

President & CEO

Aggie is a sought-after consultant and speaker. Nonprofit leaders trust that she can tackle complex campaign issues and give them solid advice.

divider

One Response

divider

Leave a Reply