Resource Center

Expert Insights header
  Creating change since 1868. Learn more. You earned it. We'll grow it. Busey Wealth Management.
Expert Insights

Making the Most of Your Charitable Contributions

Couple in a boat

As the saying goes, it really is better to give than receive—especially when supporting charitable organizations who work tirelessly to bridge the needs of our communities. While it is important to fund these vital institutions, it is also important to give wisely. Since charitable contributions are tax-deductible, these donations can play a role in many estate plans, provide a way to avoid capital gains tax and reduce your yearly income taxes.

Give Passionately

There are two types of giving—reactive and proactive. Donations for natural disasters, local charities hosting events and friends running races for disease research are often given quickly and without much planning. If you are considering a long-term donation strategy, particularly if you are weighing the considerable social and tax benefits, it may be time to channel your money into a cause you are truly passionate about—whether it is for childhood cancer research, organizations that boost the underprivileged or organizations that serve the world at large. Deciding to give a certain percentage of your income will have a significant impact on your yearly taxes as well.

Give Strategically

While it may be easier during the holidays to be more generous with your charitable donations, it’s important to research the organizations before giving them money. Ensure you get the highest “social good return” for your money.

Thankfully, there are watchdog programs and services available to help you choose a cause that you are both passionate about and uses funds effectively. GiveWell, Philanthropedia, Charity Navigator and Bright Funds are all great places to start.

Just Give

You don’t have to give thousands of dollars to a charity to make a real difference. For instance, medical treatment for people living in extreme poverty costs just $0.50 per person and can drastically impact their daily life and health. When you find the right organization, every little bit helps.

Whether charitable giving is something you do once a year or throughout the year, Busey is here to help make sure you make the most of your hard-earned money and tax incentives. Contact us today or call 1.800.67 | Busey.

On behalf of the nonprofits you support, thank you for paying it forward.

 

Back to Expert Insights

 

Investment Products and Services are:

Not FDIC Insured | May lose value | No bank guarantee

 

  • Rated 5-Star "Superior" by Bauer Financial
  • Busey Bank BBB Business Review
  • Certified Green Business by the Illinois Green Business Association
  • Norton Secured; powered by VeriSign
  • Website powered by Digital Insight
  • Surcharge-free access at any MoneyPass network ATM
  • Equal Housing Lender
  • Member FDIC

 

 

 

 

 

 

 

With five lines of business—personal, mortgage, commercial, cash management and wealth management—working together as One Busey, we can meet all your financial needs with confidence. Customers who partner with us are rewarded with the Busey Advantage—regional capabilities and local priorities. It's a commitment that has stood the test of time.

On the personal side, Busey Bank promises to make your banking hassle free with smart personal checking and savings accounts, convenient online banking and mobile banking solutions and consumer loans. Whether you are ready to buy your first home or simply want to refinance the one you currently own, our practical home mortgages, participation in a wide range of special loan programs and in-house mortgage expertise mean your home loan is tailored to your individual needs.

From opening your first business checking account or loan to creating a strong succession plan, Busey can help you manage your growing business. Our business banking, lending and cash management solutions give you the tools you need to keep your business successful and nimble. Our participation in a wide variety of specialized programs and in-house credit expertise allow us to tailor commercial lending packages to your unique situation and make faster credit decisions. Busey knows that cash flow is the lifeblood of a business—whether you need help with receivables, payables, liquidity, fraud protection or information reporting, we can customize your cash management solution to your growing business' needs.

You've earned it. We'll grow it. Busey Wealth Management provides asset management, investment and fiduciary services to individuals, businesses and foundations. We build a team of local professionals around your needs to establish the best strategy for your situation. We work closely with you to develop a personal, comprehensive plan that will help you meet your goals and objectives through each phase of the wealth management process.

Innovative Banking. Simplified.

It's your money, and you should be able to access your accounts whether you're out shopping or out of the country.

Busey makes it easy to securely manage your finances whenever you want, wherever you are.

Personal Banking Learn More »

First home. Or dream home.

There's no place like it.

Busey promises to find the home financing that's best for you - whether you're just starting out, tired of renting or purchasing your dream home.

Mortgage Learn More »

A top partner for your bottom line.

You've worked hard to realize your dream of opening a business.

Busey promises to partner with you so you don't have to handle difficult decisions alone.

Business Banking Learn More »

You earn it. We'll grow it.

After years of hard work, you want to see your efforts pay off - literally.

Busey promises to make your money work for you.

Wealth Management Learn More »

Our customers are our neighbors.

When it comes to navigating your unique financial journey, you want a partner who understands who you are, where you came from and where you are headed.

Busey promises expert advice to guide you through every important financial decision.

Resource Center Learn More »

Our roots run deep.

With roots that trace back more than 145 years, our professional farm managers are entrusted to care and maximize value for landowners controlling a combined 100,000+ acres of prime farmland in Illinois.

Ag Services Learn More »

A top partner for your bottom line.

You've worked hard to realize your dream of opening a business.

We'll build a relationship with you so you don't have to handle these difficult financial decisions alone.

 Learn More »

Your Dream. Our Promise.

You have big dreams.

Busey promises to help you realize those dreams.

The Busey Promise Learn More »

Fulfilling Dreams for 150 Years.

Join us as we celebrate our sesquicentennial.

busey150 Learn More »