Is it better to give on Colorado Gives Day, Giving Tuesday, or at Year End? As you consider your end-of-year charitable giving, you have options!
Colorado Gives Day
Colorado Gives Day originated in 2010 and has raised over $415 million for charities in our state. This year, Colorado Gives Day is Tuesday, December 5th, but any gift made through the Colorado Gives platform between November 1st and December 5th qualifies for the Incentive Fund.
How does it work? According to the Colorado Gives Foundation, “All nonprofits receive a % of the fund equal to the % they raise for Colorado Gives Day. Raise 10%, get 10% of the Incentive Fund.” So depending on how much comes in through Providence Network’s CO Gives Day page, we could receive a boost of several hundred dollars to several thousand!
The downside is this platform charges a 3.99% transaction fee, which is high compared to transaction fees from other platforms.
Yet on the positive side, 2023 Colorado Gives Day donations may also qualify for the Colorado Homeless Contribution Tax Credit (HCTC). That’s right! If your total giving from the year equals $250 or more, you may qualify for a 25% tax credit.
(Please check with your tax advisor as this does not constitute financial advice.)
When you combine both the power of the Incentive Fund and the HCTC, you can see how giving through Colorado Gives Day really adds up!
Giving Tuesday
Giving Tuesday is the first Tuesday after Thanksgiving, this year on November 28th. This day-of-generosity originated in 2012 in New York City, two years after Colorado Gives Day, which doesn’t surprise us because Colorado is full of so many compassionate and kind people!
Following the shopping frenzy of Black Friday and Cyber Monday, Giving Tuesday reminds us that the holidays are not for consumption but for generosity—a time to give and care for those around us. Unlike Colorado Gives Day, there is no incentive fund, but it’s still a meaningful way to practice generosity this holiday season. And transaction fees range from 3% to the price of a stamp.
Year End
“Year end” is just a fancy way of saying “anytime in December,” especially between Christmas and December 31st. NonProfit Source reports as much as “30% of annual giving occurs in December” and “10% of annual giving occurs on the last 3 days of the year.” Although donations any day of the year are highly prized, it is always exciting to see what arrives by December 31st! Getting those donations in by the end of the calendar year also means you may be able to claim them come tax season.
Monthly Giving
What if you’re someone who prefers to give throughout the year? If that’s you, please consider joining The Table, our monthly donor community. We love receiving donations every day of every month because we’re on mission 365 days a year! See fee information in our next and final section.
How can I give to Providence Network?
We accept credit, debit, and ACH transfers, along with stock donations via ProvidenceNetwork.org/donate. Credit card fees cost about 2.90% + $0.30 per transaction while ACH transfer fees cost about 1.80% plus $0.30 per transaction (subject to change).
However, sending a check (or money order) only costs the price of a stamp and an envelope. You can mail those to:
Providence Network
Attn: Development
801 N. Logan St.
Denver, CO 80203
Thank you for considering a gift to Providence Network any time during the year. Your partnership makes our mission and lasting change possible!
