Tuesday, December 17, 2013
Nearly a quarter of all household charitable giving occurs between Thanksgiving and New Year’s. If you are donating during this prime time, here are five ways to help ensure you are doing the most good with your charitable giving:
- Decide your desired outcome first. Before falling in love with an organization, figure out exactly what it is you personally would like to accomplish. Then go out and find the right charity that will deliver that result.
- Focus on the return. Look for the biggest “change per buck.” Even if you have to target fewer people, you may be getting a better return on investment.
- Think twice. Once you’ve found a potential match, compare it against similar organizations.
- Remember that bigger isn’t always better. The big brand-name charities may do a lot of great work, but you may get more value for your investment elsewhere.
- Consider lending. Supporting social entrepreneurs may be a better option for you than donating.
See Jason Saul, Donating to Charity? 5 Ways to Get More Bang for Your Buck, MarketWatch, Dec. 5, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.