Earmark fixed percentage of income for charity
Aryeh Leib Taurog
vim at aryehleib.com
Sun Jan 30 15:16:03 EST 2011
Mike or Penny Novack wrote:
> But perhaps you don't have that sort of problem (you give multiple
> donations to a small set of organizations instead of one annual gift to
> each of a largish number of them)
Yes, that's correct. I try to keep very close to the 10% on a monthly
basis, and usually give to only 10-20 different charities over the
course of the year, with five or six primary causes to which I'll send
checks regularly--figured as a percentage of the current balance.
This is important. Since both my wife and I are self employed, it's
sometimes hard to predict what next month's income will be; if we wait
until the end of the year to make the donations, we might not be able
to cover them! On the other hand, I have to leave some slack, since
we adjust the total for various taxes/refunds, income-related
expenses, and so forth. Also I like to have a little in reserve in
case I want to respond to a solicitation, which brings me back to the
original problem that although "eyeballing" it is relatively easy, as
you pointed out, it would be much nicer if I could get a more precise,
automatic report of the balance for any given period of time,
factoring in whatever adjustments are known.
I'm not sure how writing checks which are not nice round numbers would
make anything any more difficult for me. Ultimately the computer, not
I, will do the arithmetic, and we don't have target amounts to give to
specific charities, only that we do something meaningful with the 10%.
Thank goodness there are plenty of organizations out there doing
very meaningful work.
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