Carefully selecting a charity is important to ensure that the charity is using the donated contribution wisey and effectively. However, during this time of year it is not easy to find a charity. One solution to this problem are donor-advised funds. The purpose of these funds are to allow the taxpayer to claim the tax deduction on the 2013 tax return and make the financial contribution to the charity later. This type of fund works well for the individual who would like to make a charitable contribution but is unsure which charity to support and needs some time to choose the right one.
See Sandra Block, Donor-Advised Funds: Contribute Now, Donate Later, Kiplinger, Oct. 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
