Give Your BestSubmitted by S. F. Ehrlich Associates, Inc. on April 2nd, 2018
March 31, 2018
According to a recent article published in Money1 magazine, here are some tips to maximize the value of what you donate to charity.
Don’t select a charity based on its name alone, as names can be deceiving. Visit an organization’s website to learn about its mission. (Better yet…volunteer!)
- To determine whether or not the charity is carrying out its mission effectively, go to a website like www.charitynavigator.com, which calculates the percentage a charity spends on its mission, as opposed to administration or fund-raising.
- The Center for High Impact Philanthropy, at www.impact.upenn.edu, “publishes an annual guide to causes it believes will do the most social good.”
- Select a few charities and make a commitment to give your charitable dollars to them. That will prevent you from giving in to a heart-tugging pitch over the phone or a tear-jerking infomercial. Often, the fund-raisers in those situations collect more in fees than the charities themselves.
- GoFundMe pages attract a lot of attention and money. Give to charities you know, or individuals you know, as opposed to following the crowd and just giving because the story is popular. (Crowdfunding sites often charge sizable fees for each donation.)
- Concentrate your giving. Other than a cause you may want to support through a national organization, try to focus on local charities where you have a better opportunity to not only learn about them, but even volunteer.
- Before donating anything other than money (i.e., clothing to a charity that’s working in a region that was ravaged by a hurricane), find out if the charity needs your water, or clothing, or generator. There are countless stories of charities that end up throwing away donations by good-natured people because they had too many cases of water or too much clothing.
The experts quoted in the article also suggested ways to raise charitable children, and they repeated some of the advice that John wrote about in a previous newsletter. A few tips:
- Give out loud: Instead of quietly writing a check, tell your children which non-profits you’re supporting.
- Delegate generosity: Let children select a charity for a portion of your money, or with their own. (Try a matching program: give $1.00 for every quarter they give.)
- Get their hands dirty: It’s often hard for children to volunteer in places like a soup kitchen, but they can get involved with a beach cleanup or helping to maintain a hiking trail.