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Tips on Giving to Your Place of Worship
There are many ways of giving back to your church or other religious institution, including tithing, or giving 10% of your personal wealth to God; cash donations, which may be collected during weekly services; and planned donations, which may involve a set donation schedule, or a bequest upon your death.
As with all charitable organizations, there are several basic guidelines to follow when making donations to your church or other religious institution:
- Plan your donation into your budget just as you would any with any financial obligation. This is especially important if you tithe or chose a planned donation option.
- Don't be afraid to ask questions, including how much of your gift will be used for administrative costs. Other questions you might consider are whether or not the organization has a plan for success and whether their goals are compatible with the requirements of your specific religious beliefs.
- Keep records, as your gift may be tax deductible. Also, be sure you know how much is deductible.
- Think about alternative forms of giving such as bequests, charitable gift annuities, and endowments.
- Volunteer your time.
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