A myriad people want to donate their time and resources to a worthy cause, but are not necessarily sure how to properly a vet or even find great charity that will make a tangible difference. Unfortunately, research has concluded that giving to charity may not result in the most bang for your buck. Warren Buffett, who has pledged to give away the vast majority of his fortune, notes that analyzing the markets is much more cut and dry than examining philanthropic organizations. There has been a push by researchers to create indexes and metrics to help those who want to give gauge the effectiveness of the organizations. Forbes.com also outlined four tips you should take to ensure your donations make a difference.
- Ponder the causes that you care about and scour the web for information. Whether your searching on Facebook, Twitter, or the organizations’ websites, get a feel for the prospective charities and how they approach their specific issue.
- Pick 5. While you may have discovered hundreds of organizations that you believe can make the world a better place, it is important that you narrow down the amount you are going to support. Such focus will certainly augment the impact your time and donation will have. Be thoughtful in your choosing as these could very well end-up being long-term relationships.
- Vet each of them. Try to find how many people the organization helps and how they quantify success. Is this information cited by outside organizations or simply “in-house” research. If an organization doesn’t present outside corroboration on their website, it may well be because there is not any.
- People who are quite involved with charities will often be the first to tell you how rewarding volunteering is. You can apply your skills and knowhow to a cause that you do truly care about. Sites like VolunteerMatch.org and Catchafire.org are great starting points if you are looking to donate your time.