Reports are in, and it appears that the inaugural #GivingTuesday was a success. On-line giving to charities on the Tuesday after Thanksgiving was up 53% according to sources. I love this idea. It completes a trifecta of holiday spending: Black Friday, Cyber Monday and now #GivingTuesday. Personally, I am happy to skip the first two options and reserve my spending for charities. No trips to the mall, nothing to wrap, supporting causes that are in need. What better way to celebrate the winter holiday season?
The former policy analyst in me wonders -- did people concentrate their giving on that one day? If so, are donations to charities this holiday season up overall, or did they all fall on that one day? Time will tell. And the estate planning attorney in me sees this and thinks -- good, those donations were made early enough in the calendar year to appropriately qualify for a 2012 tax deduction (IRS sees them as a donation in the year they clear, not are pledged).
I'll be watching the news and wondering how America's non-profits will far this holiday season. Thanks for reading, and check in tomorrow for my latest thoughts on illness, death and taxes for the middle class.