Charitable giving hits record high

Estimated charitable giving reached a record high in the United States with contributions totaling more than $248 billion, according to a Giving USA report. Individual giving represents the single largest source of donations, accounting for three-quarters of the total charitable contributions made.

Though cash and checks remain the most common method of donation, the use of credit and debit cards for charitable donations is growing. This growth is spurred by the increased use of the Internet and email for solicitations and donations, a new generation of donors who have a preference for electronic payments, as well as recently passed charitable tax reforms that will soon require Americans to keep better records of their donations in order to claim them as a tax deduction.

Leveraging credit and debit cards can help simplify the process of giving and receiving charitable contributions, with benefits for both donors and recipients. Many charitable organizations, both large and small, accept payment cards as a form of payment for onetime and recurring donations.

For donors, this presents the opportunity to:

+Give more generously over time and with a greater view of total charitable contributions.

+Plan charitable giving by arranging recurring donations with the charitable organization of choice.

+Enjoy the added convenience of using credit and debit

card statements as a record of charitable contributions throughout the year for tax deduction purposes.