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Editorial
It is estimated that nearly 80,000 new charities will be formed between 2004 and 2005. Just under 2 million charities exist today and we give an estimated 250 billion annually to charities. Given these facts, the real question is, which charity is most deserving of your donation?
There are a few things about giving to charities that every donor should know.
1. Find out where your dollars go
Ask the charity how much of your donation is applied to administration and fundraising expenses. If administrative cost begins to exceed 35% you should probably ask more questions about the organizationﾕs finances.
2. Don't respond to fundraising pressure to give instantaneously.
Giving in this manner does not allow you to do the homework and research necessary.
3. Don't be fooled by a charity's seemingly familiar name. Many illegitimate
charities will associate themselves with legitimate charities in clever ways.
Examples would include a charity that simply has the word "police", "firefighter',
or 'cancer fund' in their name.
4. Research the famous well known charities.
A national reputation does not guarantee that all of its operations are legitimate. Examples of these cases are cited often in the national media.
YOU SHOULD KNOW YOUR CHARITY! Every reputable charity should give you information freely and in a timely fashion. I cannot emphasize enough how important it is to research any and every charity to which you plan to donate. If you simply donﾕt have time for this important research then contract with a venture philanthropist, like myself, to do the work for you. This will allow you to become a smart and effective giver.
We have too readily given the term "philanthropist" to our millionaires and billionaires. However, if you engage in acts dedicated to the betterment of human beings and mankind and those acts take the form of time, money, or your leadership skills, then you are a philanthropist.
Listen to Patrick Diggs, LCSW educate Raymond James Financial and Associates across the country on this topic by listening to the audio file below.
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