Giving Tuesday: Donate to your favorite charity, but beware of scams
There is still time to donate to your favorite charity on this Giving Tuesday. The global generosity movement started seven years ago.
The Church of Jesus Christ of Latter-day Saints rolled out three 'Giving Machines' in 2017. Today, there are 46 worldwide.
Inside, there are dozens of items to donate locally and globally, like a water purifier, chickens and polio vaccines. Partners including WaterAid and UNICEF are seeing increased donations.
Leslie Goldman with UNICEF USA says, "100% of your donation goes right to that item that gets sent to a child."
This unique approach to giving may be drumming up new donations just when charities need it most. According to Philanthropy.com, most charities reported decreased donations in 2018 and they're seeing that trend continue this year.
Financial experts point to changes in the 2017 tax law which increased the standard deduction. That removed the tax break incentive for most people who donate in a single year, but there's a workaround.
CBS News business analyst Jill Schlesinger says, "You can bundle or bunch your deductions into one year, that might get you over the threshold to be able to claim the charitable deduction."
Schlesinger also says choose your charity carefully because scams are on the rise.
"Sometimes they're literally saying, give us your bank account information, we will draw that money from your account."
You can check if a charity is legitimate by going to IRS.gov.
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