muses of the moment

June 13, 2013

Giving

Filed under: Odds 'n ends — totallygroovygirlfriday @ 2:06 pm

Giving is the first thing, not the last thing, an investor should do.

groovygirl gives to various charities that share her passions.

Giving has a responsibility to it. An excellent article (found through Jesse’s Cafe Americain website) about the 50 worst charities in America.

Click here.

Some of the charities mentioned give no cash to programs at all (this is called a scam), some only 1-2 %. This is outrageous!

How to Give:

  • Know what you are passionate about.
  • Pick a charity that reflects that passion.
  • Local is always good. That way you can volunteer, attend events and keep a better eye on what they are doing.
  • Research that organization, are there any red flags, ask the organization about those concerns.
  • Ask questions. Such as: can you chose what programs your money goes to. How do they make sure that happens? What is the annual budget of that program? How much does their president, etc. make? Etc.
  • Get at least last year’s (ideally, the past 5 years) official, independently audited financials. If they will not give it to you, do not give to that organization. They should also provide their IRS Forms 990.
  • Good non-profits spend less than 5% of total donations on administration costs (including solicitors). Not the other way around.
  • Non-profits are still a business and should act like one. Otherwise you may be throwing your money away and not helping the cause you think you are.

Click here for some charities to question.

Advertisements

Blog at WordPress.com.