As a dentist, your time is limited and so is your attention. Around the holidays, many practice owners receive a flood of donation requests in the mail, email, and even at the office. It’s easy to write a check and move on.
But not all charities use donations the same way.
When we reviewed several organizations that actively solicit healthcare professionals, we found that some spend a surprising amount of donor dollars on marketing and internal expenses rather than the mission itself.
Before you give this year, take 60 seconds to verify where your money is actually going:
- Give.org
- CharityWatch.org (free login required)
Both tools break down how much of each dollar supports programs versus overhead, so your generosity works as hard as you do.
If you’re over age 70½, you may be eligible to use a Qualified Charitable Distribution (QCD) from your IRA. A QCD allows you to donate directly from your IRA to a qualified charity, potentially satisfying required minimum distributions while reducing taxable income. This is often more efficient than writing a personal check.
For dentists with higher incomes or required distributions, this can be a powerful way to give thoughtfully and tax-efficiently at year-end.
In lieu of a Christmas gift this year we have made a donation in our clients name to PAWS Atlanta. A no-kill shelter in the Atlanta area that we love to support.
This holiday season it’s important to give back, understand where those donations are going and find out if they can work for you. Schedule your complimentary consultation with us to get started.
