How to choose charities
Making the biggest impact with your charitable donations
Good morning,
You’ve seen the damage from Helene and Milton.
Many people want to help, but how?
One way to help is by giving money to charities.
But how do you know which charities to trust?
None of us want to unintentionally give money to “The Human Fund”
A reader sent me this email last week:
Hello Russ, I wonder if you could write a newsletter on the honest/trusted charities your clients could give to without worrying that the money is going into some crook's pocket. Many people need help now because of these storms but I don't know how to help them. Thanks, John
Appreciate the suggestion, John.
Let's learn how to pick the good ones!
What to Look For in a Charity
When you're thinking about giving money to a charity, there are a few things to check:
How they spend money: Good charities use most of their money to help people, not just to run their office.
What they actually do: Look for charities that clearly explain how they help.
If they're honest: Good charities tell you what they've done, even if things didn't go perfectly.
How to Check Charities
There are websites and resources that can help you learn about charities:
Community Foundation for Greater Atlanta (there are more than 900 community foundations across the United States)
These sites give ratings or provide resources to help you evaluate charities and show how they use their money.
Questions to Ask
Before you give money to a charity, ask yourself:
Do I care about what this charity is trying to do?
Does this charity explain clearly how they help people?
Does this charity use most of its money to actually help people?
Tips for Giving
Here are some good ideas when giving to charities:
Don't just look at how much money they spend on office and administration. It's more important to see if they're really helping people.
Sometimes smaller or newer charities can be really good too.
It's okay to give to more than one charity.
Check in on your charities every now and then to make sure they're still doing good work. (more on this below)
Why This Matters
When you give money to a good charity, you're really helping people (or animals) who need it. By taking some time to choose carefully, you can make sure your money does the most good possible.
Remember, it's not just about giving money. It's about making sure that your donation really helps people who need it!
The Importance of Regular Review
The charitable landscape is huge and constantly evolving.
New organizations emerge, existing ones adapt, and global priorities shift.
It's important to regularly review and reassess your charitable choices (just like you regularly review and reassess your financial plan). 😉
With some of the above tools and strategies at your disposal, you can ensure that your generosity truly makes a difference in the world, creating lasting impact in the causes you care about most.
Hit reply or leave a comment and tell me about your favorite charity and why it’s important to you…
Links & Things
Just like with investing - and all things money - consider how our minds can impact our behavior - for better or worse - when it comes to our charitable decisions.
Here’s an interesting article from Shlomo Benartzi and Christopher Olivola on this very topic:
Thank you for reading…
Any additional thoughts? Suggestions? Feedback?
Hit reply or leave a comment and share what’s on your mind…
Until next Wednesday,
Russ
What if you are in need of donations but your in a different country