This is a transcript of unscripted speech, rather than written prose, and therefore should not be relied on for grammatical accuracy. This is not a verbatim transcript. Parts have been slightly modified to improve readability.
The slower pace of the summer months offers an opportunity to make a difference in the lives of others by volunteering for your favorite charities. As you take time to consider how you'll carry out your charitable intentions during the remainder of the year, it might make sense to think about the timing of your financial support.
Many donations are made during the last few months of the year, but the needs of non-profits are year-round. For charitable organizations that plan around a fiscal year ending in June or September, the summer months are critical for fundraising.
Ask your favorite charities about upcoming milestones. You may find just the right fit for your charitable resources and goals.
A well-timed gift over the next three or four months may be exactly what is needed to help a program or organization meet a critical goal. If you traditionally donate to charitable causes in December, you may want to consider moving your annual donations to a date earlier in the year.
To maximize your charitable impact, consider donating appreciated non-cash assets that have been held for a year or more. Donating non-cash assets such as publicly-traded stock or private business interests can increase the tax benefits of your charitable giving, leaving you with potentially more money to support the causes that are most important to you.
Thoughtful timing of your charitable support, combined with tax-smart donations can help you make an even bigger difference in the world.
From all of us as Schwab Charitable, thank you, and have a pleasant summer.