Partnering with commercial businesses can be a great way for nonprofit organizations to fundraise. Over the past decade, cause-marketing relationships between nonprofit and commercial businesses have grown exponentially in popularity. Campaigns like Yoplait Save Lids to Save Lives, Dove’s Campaign for Real Beauty, American Express’ The Members Project, Nike’s Livestrong Bracelets, and The Gap’s Product Red are all great examples of long-term cause marketing relationships that have helped generate millions of dollars for their respective charities.
As 2013 draws to a close, public charities await year-end contributions, and Packers fans await the potential return of Aaron Rodgers, a charitable receipting “Double Check” is likewise in good order. Donors and donees must remember that a donation alone is not enough for a donor to claim a federal income tax deduction. A proper written acknowledgement from the donee to the donor substantiating the gift must be maintained. Earlier this year, a court in Texas denied a donor a charitable deduction because the written acknowledgment provided by the organization did not include the requisite
Why do people give to charities? Is it the tax break, the satisfaction of helping others, or perhaps a combination of factors? The Wall Street Journal recently published an article by Elizabeth Svoboda called “Hard-Wired for Giving,” adopted from her new book What Makes a Hero? The Surprising Science of Selflessness (Aug. 31/ Sept. 1, 2013 WSJ Review). With nary a mention of Internal Revenue Code Section 501(c)(3), the author instead focuses on how the human brain is apparently built for generosity. Fascinating stuff.