CHICAGO, IL — (Marketwire) — 02/28/13 — As part of BMO Harris Bank-s ongoing commitment to financial literacy and Making Money Make Sense, BMO Harris is providing weekly financial tips. This week-s tip offers tips on how to choose the right nonprofit match.
Whether you opt to donate money, volunteer your time or make an in-kind donation, getting involved with a nonprofit organization benefits both you and your community. It helps connect you with other people, increases your self confidence and can improve your physical and mental health.
There are thousands, if not millions, of nonprofit organizations in the US and worldwide that could benefit from your help. So how do you pick one that-s right for you? BMO Harris Bank recommends asking the following questions:
Finding a nonprofit organization that is in line with what you are interested in will help you stay more engaged with the work that needs to done.
You may be able to form a stronger connection a smaller organization and giving your time and money might make more of an impact. But a larger organization may be able to provide more types of volunteer opportunities.
The nonprofit that-s right for you depends on the type of contribution you-d like to make. Some nonprofits prefer monetary gifts, whereas others may also seek volunteer hours or in-kind donations.
The organization-s nonprofit status is especially important if you wish to receive a tax benefit. To receive a deduction, make sure you track the value of in-kind donations that you make, get receipts and record the value when you file your taxes. You can confirm a nonprofit-s status by visiting .
For example, if you-re making a monetary gift to the university you attended, you may want to find out if you can direct your gift to your degree program.
Put yourself in a comfortable place and get started with .
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Vanessa Hall
(312) 461-6543