DONATIONS – DONATIONS

Most lucrative business especially before and around the Christmas Season, and it has become the most popular for the very reason that it has now become easy to quickly set up a website, some money-collecting mechanism, and the online money collecting business in the name of donation is running. “In the name of donation” – that’s the point.

It seems advisable, if it is simply for a business to reduce their taxes before year-end, as charitable donations are tax deductible.

https://www.businessnewsdaily.com/10470-small-business-guide-charity-donations.html

But these tax deductions must be substantial, else there is no point. For regular donations, let’s say on a monthly basis, it is not worthwhile to even consider to enter those amounts in you tax return, as the end result – any tax deduction – is negligible.

What bothers me are not the daily, all day long, requests for donations for any cause, but the lack of accountability and transparency of those entities that have sprung to life before Christmas, enriching their coffers (who knows, for their own profit), without accounting of where this money goes, into whose bank account, how much is spent on administration, and where donated funds are going to end up. Presumably for a good cause.

For businesses who can lower their tax burden at year end it is totally legit to give to a reputable charity. Provided sufficient transparency by those collecting the funds publicly given, in order to know that those moneys go to the actual cause they were intended for.

Looking at one example:

https://www.marketwatch.com/story/20-incredible-charities-that-give-99-of-the-money-they-get-to-the-actual-cause-2017-12-28 .

Just heard on the local radio that less and less people are motivated to give anything to anybody. Why ? because most organizations or website owners asking for DONATIONS do not account for it, and therefore are automatically mistrusted.

Transparency about distribution of funds also means to give collected donations to the right cause and those who really need it.

[I am sure I receive numbers of emails after this post, asking me to “push the hot button on some website”, for DONATIONS, DONATIONS.]

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