Charitable Donations: Help Your Elderly Loved One Make Smart Decisions

Managing Charitable Contributions

Contributing to favorite charities can be a fulfilling way for financially secure older adults to help others. There are several things you can do to help your elderly loved ones make such contributions with care and confidence while avoiding inefficient charities, tax mistakes, and duplicate payments.

Researching the Efficiency of Charitable Organizations

CharityWatch is an organization that monitors charities and publishes ratings on their website (CharityWatch.org) according to efficiency with which they use donor funds. They also provide a list of their top-rated charities, organized by the type of need they address. Access to the full CharityWatch database requires an annual contribution ($50/year as of November 2021.)

Tracking Charitable Contributions

Organizations seeking solicitations can sometimes call or send mail repeatedly, and some older adults can lose track of what they have contributed. Consider helping your loved one keep a log of what they have contributed so they don’t spend more than they intend.

Reducing Unwanted Solicitation

If your loved one chooses not to support a particular charity, you can request to be removed from their mailing list and call list. Contact them directly to do so.

Also see our article about Reducing Unwanted Solicitation, which describes how to join Do Not Call and Do Not Mail lists. But joining such lists will not stop contact from organizations to whom you have given permission to contact you. You must contact those organizations directly.

Tax Deductions for Charitable Contributions

Check with your CPA or tax preparer for the latest information about the tax deductibility of charitable contributions, about your particular ability to deduct charitable contributions, about record keeping requirements, and other important information. As of November 2021, the IRS published a mini-course about deducting charitable contributions.

Watch for Fraud, Scams, and Identity Theft

Fraud and Scams can masquerade as charitable organizations. Read our articles about Preventing Scams and Fraud, and Preventing Identity Theft.

How Care is There can Help:

We can help you and your loved one manage their charitable contributions by:

Looking up the efficiency ratings for donations to particular charitable organizations
Helping remove your loved one from mailing and calling lists for unwanted solicitations
Tracking contributions to charities to avoid duplications
Helping file records of contributions to charities to facilitate the preparation of the tax return by the CPA.

Resources for Managing Charitable Contributions

Next Steps

Need help managing charitable contributions for your loved one? Contact Care is There today for a free consultation!

Charlottesville Area: 434.326.5323
Shenandoah Valley: 540. 246.0211
Toll Free: 800.434.1633
Email: Info@CareisThere.com