Wisconsin Charities Struggling

In a time of decreased funding and increased need, many Wisconsin non-profits are reporting significant funding concerns. According to a recent survey, 25% of Wisconsin non-profits do not have more than 1 month of emergency funds. As a result, many are looking to diversity their funding sources.

Should you be moved to make a donation to your favorite charity, please keep in mind that the IRS will determine the donation was made during the year the check was cashed (called negotiated) and not written. I had this in mind when we completed our 2011-12 annual pledge to our church. We wanted to claim the entire amount on our 2011 taxes. When I sent the check, I conveyed to the organization that it needed to be cashed before 12/31/11. I'm glad I did because their last bank deposit of the year was December 13th.

Please remember that a blog is not a substitute for legal and or tax advice. Please contact an attorney and or CPA in your state.