How to Make Charitable Donations That Serve a Purpose
Becoming informed about charitable giving can lead to big returns—and even bigger community impact.
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SPECIAL PROMOTIONAL SECTION
Answering some simple questions help to you to clarify those motivations and set a forward-course. Consider the following:
What issues do you care about most?
Have you or your family been personally affected by a specific health issues, or broader issues like racism?
Are there specific problems in your community that you would like to help address, such as education or the environment?
Do you prefer to address persistent needs, like hunger or homelessness?
How about issues that arise unexpectedly, like humanitarian crises and natural disasters?
Do you want to make an impact locally, nationally, or globally?
Many heads of households benefit from setting their giving strategies as a unit. Communication and coordination certainly helps to increase overall impact and helps to minimize the potential for conflict when the giving budget is tight.”
Size doesn’t matter, experts say. Many people think they don’t have enough money to make a difference. The truth is that making smaller but regular donations can be very beneficial to nonprofit organizations and is something that has become very popular with the younger generation. Also, legacy giving—naming nonprofits as beneficiaries in your will or your life insurance policy—is a great way to ensure that the organizations you care about are sustainable into the future.”
Pennington says that she has one overriding principle when giving: “My general rule is that I do not give to any organizations who allocates more than 20 percent of my gift to cover overhead, 80 percent of my gift must have direct impact on the population served.” she says. “Define your own individual parameters and then stick to them.”