Urban Thought Collective

None of us are immune from the downtown in the economy. It is affecting our lives in many ways. We keep asking when is this going to end, when are things going to get better, when is my personal financial bailout coming? People have been laid off, fear being laid off and are anxious about themselves and the economy in general. We are all cutting back and reducing our spending–canceling vacations, putting off purchases that are not necessities, eating at home and bringing our lunches to work. But as you are looking for categories of things to cut, don’t stop giving money to charity. If you have to reduce the amount you give do that, but don’t entirely eliminate giving money to charities as part of your belt tightening. Nonprofits are being just as hard hit as each of us as a result of the downtown; the smaller the nonprofit the more problems they have raising funds. But because of the economy in some instances their services are needed more than ever. So before you take charitable giving out of budget altogether, think again. Here are some tips on recession giving.

First, decide if you are comfortable giving to charities at the same level you did last year or if so you need to cut back. This includes your church and any other organizations to which you give. Some of us spread out our giving among a bunch of organizations. Think about cutting the number of organizations that you give money to. Determine the causes that are near and dear to your heart and causes of friends and family that you like to support. Ask yourself the questions: “Am I dedicated to this cause?” “Does it mean a lot to me?” If you can’t answer yes to either of those questions, maybe you should take it off the list.

Once you decide the organizations that you want to keep on your list, decide how much money you can give to each of them. Give what you can; an amount that is meaningful to you but does not cause financial strain. And include any amount you give to your church. Unless you are a tither many of us do not keep accurate records of the amount we give in church. Consider writing a check for your offering or making a church offering using online banking, this will help you monitor how much you are giving to your religious organization and include that as part of your charitable giving budget.

Now that you’ve decided where you are going to give and how much you can give, decide when you are able to give. A great way to maximize your charitable giving is to spread it out throughout the year. You may not be able to give $1,000 right now, but if you break up that amount into 12 months (or nine since it is March already) that is $111 per month. In many cases it is much easier to part with $111 a month rather than writing a check for $1,000 all at one time. Many charities allow you to set up recurring donations of a certain amount on a monthly or quarterly basis. Each month your checking account is debited for that amount. This is a great way to give a small amount which will add up over time. The organizations you are supporting will also appreciate it because they will know that you are committed to supporting them throughout the year. Call up the organizations you support and ask them if you can give a set amount that can be broken up into monthly amounts. Because you are giving smaller amounts you will not miss it as much.

Similarly, if you are expecting additional money a certain time during the year, reserve a portion of that for your charitable giving. We are getting close to tax time so if you expect to receive a tax refund consider making a donation from your refund funds.

But what if you take all of these steps and still are not in a position to make any financial contributions to charity? Always remember even if you cannot give money you can give time. Volunteer to put on a workshop, mentor a child (black male mentors are especially needed), or work in a soup kitchen. Time is as good as money and you can make a difference doing either. Try not to cut your commitment to philanthropy even in these tough economic times. Right now is when your help is needed more than ever—figure out a way to give without breaking the bank.

ARE YOU CUTTING BACK ON CHARITABLE GIVING BECAUSE OF THE ECONOMY?

Send a comment with your answer.

Angelia Dickens is an attorney and author with lots of thoughts and opinions, and now a place to share them (other than with her friends and family). Her blog is a compilation of her musings and commentary on charitable giving, volunteerism and philanthropy from an African-American perspective. Her writings have appeared in the Nonprofit Times and the Root.com. She can be reached at speakyourvoice@gmail.com. Read, comment and circulate.