Charitable Funds - Monetary Donations & Contributions

Most small business owners receive frequent (if not daily) requests for monetary donations or contributions toward many worthy causes (scouting, school fundraisers, sports team activities, non-profit agencies, and many others). As a contributing, active member of your community, you want to do your part, but talking with all of the solicitors can be a real challenge (and drain on the pocket book or wallet).

Being faced with this dilemma myself, I’ve developed the following strategy: (1) At the beginning or end of each year, decide on which “causes” you’d like to financially support for the entire year. (2) Dedicate the funds for your selection. (3) When approached by solicitors throughout the year, simply and honestly inform them that you have already dedicated and allocated charitable funds for the year, and that if they’d like to be considered for next year, to please submit their request in writing.

This strategy has worked for me. Worthwhile charities have been supported, there is no financial drain or over-expenditure, and there are no guilt feelings for not supporting each and every “cause.”

Your thoughts? Your strategies? Please share!