How to Allocate Money Towards Donations During a Time of Great Need

In the midst of the COVID-19 pandemic I’m seeing a lot of requests for support from various groups of people who are struggling. 

Allocating a predetermined percentage of your income towards donations is a great way to earmark that money for that specific purpose. Then when opportunities arise to support crowdfunding campaigns or organizations, you know exactly how much you have to donate. This makes donating more sustainable from month-to-month.

You can start small with 1-3% of your income. Here’s a breakdown.

If you’re making $5,000 per month

1% = $50
2% = $100
3% = $150

For some people, $50 is groceries for the week or gas for a month. So even though it may seem small to you, it can make a big difference.

If you can swing more, by all means, do so! Having a sense of your income and how much you want to allocate towards donations is a great way to prioritize community support and ensure the sustainability of your business.

And don’t forget – donations to non-profit 501(c)(3)’s are tax-deductible, just make sure to get a receipt!

Read more about allocating funds in your business here.

What causes are you supporting right now? Here are some that stand out to me:

Donate Your Corona Bucks
Safety Fund for Survivors of Domestic Violence
Central OR COVID-19 Mutual Aid Relief Fund

Never Miss A Deadline

Stay on top of important financial dates...Grab this calendar with recurring monthly, quarterly, and annual financial deadlines.

Never Miss A Deadline

Stay on top of important financial dates...Grab this calendar with recurring monthly, quarterly, and annual financial deadlines.
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