There are so many different ways you can give to your favourite charities and causes. From one-time donations, to monthly donations, to donating securities, at times it can feel overwhelming to decide on the best option for you. When you plan ahead, you can maximize your generosity and ensure you are following the right overall giving strategy for you. Here are 5 ways you can give to your favourite charities that will not only help the charity, but help you to make an even bigger impact.
1. Monthly Giving
Giving monthly makes it easier for you to budget out multiple manageable donations throughout the year rather than a large amount at the end. Plus, you will receive one rollup tax receipt to make tax-time a breeze! As most charities get the majority of their donations in December, you will also be providing them with a reliable source of funding throughout the year. You can help them plan ahead and focus on their mission instead of worrying about administration and fundraising costs. Learn more about how to set up a monthly gift.
2. Tax Credits & Incentives
Did you know that donating to charity can save you money during tax time? When you make a donation to a registered charity in Canada, you will receive a tax receipt for your donation. Your receipt can then be submitted with your annual tax return to receive a tax credit of up to 53 percent of your donation. When you have a clear picture of the tax benefits you can receive from giving to charity, you can better determine how much to give to further your impact! Learn more about charitable tax credits with our tax calculator to see how much you can save when you give.
3. Donate Securities
Donating securities is the most tax-efficient way to donate to your favourite charities. When you donate securities including stocks, bonds, and mutual funds directly through CanadaHelps, you eliminate capital gains tax. This means more money for the charity or cause you care about to fund the areas that need it most. Plus, you receive a larger tax receipt for the full market value. We make it easy to do online. Simply transfer the shares to us and we take care of the rest. Learn more about donating via securities today!
4. Cause Funds
If you’re more passionate about making a difference for a specific cause rather than an individual charity, you can make a broad impact with Cause Funds. When you donate to a Cause Fund, your donation supports a number of trusted charities working towards the same cause. With over 20 Funds available, you can protect animals in need, fight climate change, eradicate hunger across Canada, and more. Your tax-deductible donation will be pooled with others to help achieve wider-reaching effects. Learn more about how you can further your impact with Cause Funds.
5. Set Goals With Your Account
If you haven’t already, creating a free CanadaHelps account is a great way to manage your giving strategy! If you already have an account, you can utilize the many features it offers to help further your impact when you give. Your account helps you to keep track of all your transactions and tax receipts in one place, calculate your tax credits, start fundraisers, see an overview of all the charitable categories you’ve given to, compare your giving to other Canadians, and set giving goals specific to your budget. Learn more about the benefits of starting a free account through CanadaHelps.
Giving to your favourite charities and causes is rewarding for you and even more rewarding for the charity. When you give in a way that ensures your impact goes as far as it can, you can feel confident knowing that your donation is making the greatest difference!