Interest.com, a Bankrate website which claims a readership of 500,000 monthly, helps consumers make smart decisions about almost every aspect of their financial lives, including donating to a cause they care about.
Rebecca Tekula, executive director of the Helene and Grant Wilson Center for Social Entrepreneurship at Pace University in New York, advocates using online resources to determine which charities really deserve your money.
Tip 5. Do your research.
Tekula suggests that people look at their philanthropic investments in the same way they’d view other investments.
You’re not only investing your funds, you also need to consider long-term expectations.
In addition to investigating a cause’s website, Tekula shares some of her favorite online resources for researching charities:
Guidestar — This is a great starting-off point and fundamental resource for analyzing facts, including tax returns and salaries.
Charity Navigator — This website uses a star system based on evolving and sophisticated fundamentals of the organizations. A great resource for the financially savvy reader that looks at the charities the way you look at a business, based on return on philanthropic investment, return on social investment.
GiveWell — The next step in evaluating a charity, according to Tekula, the top-rated charities it recommends are proven, cost effective, underfunded and outstanding.
To read all “6 ways to make giving to charity work for you” – click here