Donations: Things to consider before donating
So many people love to give. Doesn’t it feel good to give your time, energy and money to good causes? I often wonder how people decide which organization to give to. According to the Foundation Center there are over 1.5 million non-profit organizations in the United States. With so many groups, how does one determine which one to donate to?
You may have a personal connection with a specific cause or organization and in that case it makes things a bit easier. Even with your connection, I suggest checking out Charity Navigator. It reports on the financial health of over 5,500 charities. Some of the results are staggering.
Here is a short list of items to ask or research a potential charity before making a donation.
1. How much of every dollar raised is actually given to the mission or cause? (aim for better than $0.70 cents on the dollar)
2. Do the administrative costs of the organization seem excessive?
3. Does their website list accessible information about the Board of Directors, Form 990, staff and audited financial info?
4. Is their mission statement clearly defined and is it something YOU can relate to?
5. Do they offer others ways to donate other than just money? (services, time, goods, materials)
Your hard earned money is a precious commodity. Choosing to give is a big deal; you want to make sure you are picking the right groups to support. The more information you have the better decisions you can make.
When was the last time you donated money? Have you ever gotten to “see” your money at work for a cause? We will be talking more about that in the coming weeks but feel free to share your experiences with us. We love to hear from you!
September 30th, 2011 at 5:53 am
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