Cannabis Day of Giving
CANNA CAN MAKE A DIFFERENCE! We Will Prove It!
Let’s face it, there is a lot of money in the cannabis industry. The ability to impact local community needs is there. But there is a problem. It’s still ILLEGAL on the federal level and that creates a couple issues:
- NO TAX DEDUCTION – State taxes are ok to collect, but if they give to charity, they can’t write anything off. And when you are being taxed at 65% in some cases, if you gave just 5% profit, it’s like giving $.70 of every dollar before you can pay a bill. Would you donate if that was the case? Personally, probably not, but the cannabis industry is donating without that tax benefit. Do you think a bank would? A large corporation? Maybe. Maybe not.
- CHARITIES AREN’T SURE – Can they accept a donation? They are a federally designated organization. Technically, they most likely can’t. No laws or anything else has been adjusted or changed to clarify this and some are scared to accept the money. Some will take it, but will not say they are taking it for fear they might lose other donors. This creates a problem for cannabis companies. If they can’t get a tax-deduction, they at least want people to know they are giving and to whom! But if charities don’t or can’t tell do to fear, then why would a cannabis company give.
THE ONE DAY SOLUTION
The DoingGood Foundation is a federally recognized, 501(c)(3) nonprofit organization and has a solution. The Canna Make A Difference Day of Giving being held on July 10, 2017, allows cannabis companies and consumers and supporters to give in one place for one day with 100% of the money going to support small and state-based 501(c)(3) nonprofits! AND the DoingGood Foundation, along with its partners will publically get the word out about the power of GREEN PHILANTHROPY!
CANNA MAKE A DIFFERENCE
This day of giving was created to take care of a few challenges:
- PUBLIC EDUCATION – the general public, even members of the cannabis community, are unaware cannabis companies and their personal owners are unable to donate to charity yet can give states 65% of their profit for taxes. This seems flawed to us! AND most of the giving taking place is only highlighted in cannabis industry publications and on individual cannabis company websites.
- DIRECT COMPARISION – Days of giving take place around the country. Colorado Gives Day raised over $38 Million on one day in 2016. Our goal is 10% of that (when added to the $38MM), or $4.20 Million (Strange how that works out huh!), we could say that the cannabis community accounts for 10% of giving in the state of Colorado when compared to Colorado Gives Day!
- MEASURING DIRECT IMPACT – Since 90% of the money raised (10% goes to DoingGood Foundation for administrative expenses) during CANNA MAKE A DIFFERENCE will be granted to small and local nonprofits across the state, we can measure the direct community impact of GREEN PHILANTHROPY! Thus, as a typical function of receiving a grant, they will be held to measurement standards and report their impact from the money received to the DoingGood Foundation which will be shared with the public and available for all cannabis companies and the industry to use as part of their local, state and federal public relation efforts. A Grant Committee will be made up of Cannabis Industry leaders, Government Officials, Nonprofits leaders and Philanthropists to review grant applications and make decisions on which nonprofits in which communities will receive grant money.