Where to Give?

By most accounts, the U.S. economy is doing better.  Unemployment is down.  Job growth has been robust.  Businesses are doing better, and the Dow is hitting historic highs.  As companies and people find themselves doing better financially, they are more inclined to want to help those who are less fortunate.  However, deciding which charity or charities to support can be a challenge.  Determining which charity is the most worthwhile and trustworthy to use the donation wisely is hard for even those most knowledgeable about good causes.  There are over a million charitable organizations in the U.S. alone. It is hard to decide which cause is ‘best’ when there are so many worthwhile charities.  For example, UNICEF helps protect the world’s children by providing clean drinking water, vaccinations and emergency relief in disaster areas.    The Against Malaria Foundation provides bed nets to families in malaria-prone regions.  The Seva Foundation treats trachoma and other common causes of blindness in developing countries. The list goes on and on. How does one decide which organization is most deserving of financial support?

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Who Gives?

Did you know that charitable giving increases at this time of year? Indeed, about 40 percent of all charitable donations in the U.S. are made in December. For many charities, end-of-year fundraising is the difference between a successful year and financial hard times. But who is doing the giving? Many think that the majority of all charitable donations are made by the ultra wealthy (think Bill Gates and Sam Walton), big foundations, or prosperous companies trying to increase their tax deductions. In reality, of the more than $300 billion that Americans give to charities every year, only 15% comes from foundation grants and 6% from corporations. The rest – nearly 80 cents of every dollar — is given by individuals. Yet, it’s not primarily by the people you’d most expect. Continue reading →