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Home > Smart Spending > Archives > 2009 > March > 02
Monday, March 2, 2009
Don’t forget donating to charities in these challenging times
The Atlanta Journal-Constitution
Give ‘til it hurts, the old saw goes about donating to charity.
What pains me is charitable organizations that take your money and keep too much of it for salaries and expenses. When I extend a helping hand — holding cash or a check — I want assurances that nearly all of the amount gets to the designated beneficiary.
Once you part with your donation, you can never be certain it will be spent to your complete satisfaction. But there are approaches and resources to boost your confidence level.
If a telemarketer calls on behalf of a charity you like, politely hang up and contact the organization directly. You won’t be paying a commission, which can range up to 75 percent of the pledged sum, through the phone pitch.
You can scope out a charity by confirming that it has been designated 501 (c) (3), meaning it has been granted tax-exempt status by the feds. Any such charity files a report (Form 990) indicating what percentage it spends on administrative costs versus on the declared recipients.
Another indicator is compensation for the charity’s top executives. The more they are paid, the less is available for the needy.
How do you determine your charitable giving? Do you consider any of these factors, or others?
To save you some trouble researching organizations, check out the data-heavy. Another online source:.
How has the economy affected your contributions? Are you cutting back?
Nowadays, giving can hurt a little. To prevent it from getting too painful, check out the charity before writing that check.
Here are more tips on how to do good locally. and more money saving ideas.
