Budgeting has its benefits, even with charitable giving

by SCF Team | January 27, 2025 | Siouxland Community Foundation Blog, Donor Resources |

Your family may be reassessing charitable giving this year due to economic uncertainties, but it’s important to remember that community needs are still growing. Setting a budget for 2025 can help you support your favorite causes while staying financially mindful.

Steps for building your 2025 charitable giving budget:

• Review past donations: Look at the last three years of charitable giving and compile totals for each organization. Donor-advised funds can simplify this process with accessible records.
• Prioritize key organizations: Reflect on which charities matter most to you. Consider personal connections, volunteer involvement, or board memberships.
• Identify temporary holds: Evaluate whether some donations were tied to one-time events, like capital campaigns, or supporting a friend’s cause. Consider pausing these in tighter financial years.
• Calculate an average giving budget: Add up your total donations over three years, divide by three, and adjust the number based on your 2025 financial outlook. If possible, take advantage of tax benefits like donating appreciated stock.
• Evaluate giving levels: Decide which organizations to maintain at historic levels or scale back temporarily if you’re contributing time or other support.
• Research new charities: Use the community foundation’s expertise to learn about the impact and financial health of charities you may want to support.
• Set giving targets: Define how much to give to each organization and establish a timeline for donations. Intentional planning enhances your engagement and helps charities better fulfill their missions.

By budgeting thoughtfully, you can maximize the impact of your giving and stay connected to the causes that matter most to you. Let us know how we can support your planning this year!

Discover about Siouxland Community Foundation on our website 

All our blogs can be found on the Blog and News page.