Thanksgiving through New Years is ‘Giving Season,’ with over 30% of all giving happening during the last month of the year. Whether it’s #GivingTuesday, people making their annual contributions to their favorite organizations, or making contributions to their Donor Advised Funds and Giving Accounts for the tax benefits, giving is often top of mind in December and then falls off our radars for a few months.
However, if giving back is a part of your resolution or plans for 2021, now is a great time to start budgeting for that giving. Many of our users set up a recurring contribution to their account in January. Each month, or each payroll, their selected amount is deposited into their giving account. Some users let their balance build up and distribute it all at the end of the year, while others distribute the money each month. Both are great use cases for your giving account.
Let’s say your goal is to donate $600 in 2021. You can set up a monthly, $50 contribution. You know that by December, you’ll have contributed $600 to your account. Maybe you make a few donations throughout the year, leaving you with $400 in your account in December to send to the charities that you support each year. You feel good knowing that you hit your goal and, even better, you budgeted for it throughout the year, and don’t feel in a pinch during holiday season!
To set up your Recurring Deposit, click Set a recurring deposit in your Menu bar, choose your amount, the day of the month that you want to be charged, and your funding source (Card, ACH, or Payroll deposit, if available to you) and you’re all set!
Happy New Year, Happy Giving, and Happy meeting your Resolutions!