By Allyn Hughes, CFP®, ChFC®, CLU®, CAP®
In many parts of the country, summer is the time to relax, recharge, and get away.
Unfortunately, for many not-for-profits, summer is also their most difficult period of the year to raise funds.
A 2012 survey by Guidestar showed that more than half of the not-for-profit organizations that were surveyed said that they received a majority of their contributions from individuals in the months of October, November and December.
This means for many charitable organizations donations from individuals dry up during the summer months.
If, in the past, you have made annual gifts to favorite charities at the end of the year, consider changing the timing and amount of your contribution. Instead of making the whole contribution at the end of the year, split the contribution amount into two and contribute half during the summer and the other half at the end of the year. This will provide valuable support for many not-for-profits when they need it the most.
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