Charitable giving is always important, especially now when there’s more and more problems in the world.
However, with endless organizations vying for your donations, it can be overwhelming to determine where your money will have the greatest impact.
While many people rely on recommendations of others, or shortcuts to find the “best charities” to support, there is no one-size-fits-all answer.
The best way to choose which charities to support is a goal-oriented approach by first deciding what you actually want to do (and then picking groups). You must recognize that even if you like a group, if it doesn’t fit your goal, you have to pass.
Here’s how to use a goals based approach in your giving:
- Define Your Goal: What are your personal goals? What change do you want to see? Whether it's religion, education, healthcare, politics, or your local community. Pick what matters most and then focus your donations for maximum impact. There’s more, so don’t start sending checks just yet.
- Impact: Once you know what you care about, find organizations that are best positioned to address the root causes of the issues you want to tackle. Impact is often a long-term endeavor, so be patient in your giving. Not all problems can be solved overnight.
- Vetting: You’ll need to research potential charities. For the love of God, don’t rely on platforms like Charity Navigator and GuideStar. (Those are often written by the charities themselves and can have manipulated numbers). Review the organization's actual spending, financials, and program effectiveness. Don't be afraid to ask them hard questions and demand total transparency.
- Long-Term Sustainability: Look for charities with a vision and strategy for future success (not those focused on continuing their existence). This is a difficult thing to review. You want organizations that have potential to solve big problems, as well as the ability to attract funding from others. They have to be committed to the long haul.
- Donation Logistics: Finally, once you've chosen a charity, it's time to send your donation and make sure that it goes to the specific program (not to fundraising). You want results, not lots of communication asking you for more money.
Takeaway: choosing the best charity in 2024 is a personal decision based on your goals and long-term impact. Remember, it's not about finding the "best" charity, but rather the right charity for you and having your donation go towards work.
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