Implement and refine your plan
With your giving plan in place, it's time to put your plan into action. Think about how you want your gift to be used and the frequency of your giving. Also look for ways to hone your giving plan as you learn more about your favorite causes and the nonprofits that serve them.
Determine your gift's purpose, frequency, and terms
In addition to supporting your favorite nonprofits, you can also influence how your gift is used within an organization. For example, you can designate your gift as an unrestricted gift, which allows the organization to decide how to allocate the money, or a restricted gift, which supports a specific purpose, program, or activity. You can also choose to give once, monthly, annually, or at another frequency.
Learn how to make your gift go further.
Track, review, and refine your charitable plan
Regardless of how you give and how frequently you give, make sure to track your gifts and periodically review and refine your charitable plan. Instead of tracking the impact of specific contributions, track your impact through the health and effectiveness of the organization's programs, leadership, and financial standing. As time passes and you learn more about a charitable sector, look for ways to increase your impact by adjusting the size and frequency of your gifts or funding new organizations or causes within the sector.
Get more tips on tracking your impact and refining your plan.
Related resources
-
PodcastDetermine the right gift
What are the differences, and what are the benefits of each type of gift?
-
ArticleBunching charitable contributions
Maximize your tax benefits by bunching two years of charitable contributions into one year.
-
VideoRedefining philanthropy
Greg and Veronica discuss how they have become more intentional about their giving.
Keep building your plan
Explore other ways to make the most of your charitable giving.
-
Identify the goals and causes most important to you and narrow your charitable focus. Also consider involving your family in your giving.
-
Explore ways to create a giving budget and identify charities aligned with your causes.
-
Learn which organizations are eligible for tax deductions, determine which assets to give, and choose your charitable giving vehicles.
-
Keep your eyes, ears, and mind open to different ways of giving, such as volunteering or serving on a nonprofit board.