It's that time of year when our minds turn to giving - either from
the wellspring of holiday spirit or from the desire for one more
write-off before December 31. Don't let the holiday rush lead you
to drop your dollars into the wrong charity basket, though. Give
smart this year. Here's how.
- Tracy Staton
Wise Donors Do It This Way
1 Never give to a charity you know nothing about.
2 Make sure administrative and fund-raising costs don't outweigh
the amount of money spent on programs.
3 Don't contribute on the spot. No legit organization would
pressure you to do so.
4 Keep records of your donations, and don't give cash.
5 Tax exempt doesn't always mean tax deductible. Double-check.
6 Don't be misled by familiar-sounding charity names. Some
fly-by-night charities use copycat names to fool you.
7 Don't fall for a sob story. Always do your research.
8 Ask if the charity is registered with your state or the feds as
required by law.
9 Don't feel obligated to a charity that sends direct mail with
free calendars, key rings, or other tchotchkes.
10 Do consider giving generously to one charity you're sure of
rather than to several you haven't researched as well.
Source: American Institute of Philanthropy
Don't Give Blindly
These days, donating is like watching cable television: There are
thousands of specialized possibilities, many of them no better than
the worst Gilligan's Island rerun. Even after you narrow your field
- to one disease, one social problem, one continent - you'll still
confront too many choices. Fortunately, charities (also like
television) have watchdogs and reviewers to measure them against
various yardsticks. Want to know how much of your money will end up
with folks who really need it rather than spent on administration?
Or do you simply want a list of nonprofits that are best at, say,
fighting disease in Africa? These websites deliver.
Charity Navigator,www.charity
navigator.org. Boasts a searchable, sortable database plus
top-10 lists in myriad categories.
American Institute of Philanthropy,www.charitywatch.org. Issues letter grades for
charities nationwide.
Guidestar,www.guidestar.org. Has a
massive database of nonprofit financials. You'll have to interpret
them for yourself.
Better Business Bureau Wise Giving Alliance,www.give.org. Identifies charities that spend at
least 65 percent of their money on programs.
An Eventful Way to Help
Charity events are fun ways to help your fellow humans.
Here are some top-earning - and top-entertaining - charity events
across the country.
Crystal Charity Ball, December 9, 2006,
Dallas. Town
& Country has called this the best children's charity in the
U.S. The ball, which is the preeminent social event in Dallas,
raises more than $4 million each year for local children's
organizations.
www.crystalcharity
ball.org
Robin Hood Foundation Ball, May 2007, New York.
Organized by a board rife with
Wall Street bigwigs and boldfaced
names like
Tom Brokaw, Harvey Weinstein, and
Gwyneth Paltrow, this
is the Manhattan event of the year, raising $48 million in a single
night for the Robin Hood foundation.
www.robinhood.org
Auction Napa Valley, June 7 to 10, 2007, Napa Valley
and online. To be spearheaded next year by the Joseph Phelps
Vineyards family, this is the biggest wine auction in the world,
raising about $8.4 million annually for regional charities. In
2006, a single lot sold for $1.05 million.
www.napavintners.com
The Carousel of Hope Ball,M October 2008,
Los Angeles. This superglitzy, celeb-studded event comes around only every other year, but it’s worth waiting for. It raises more than $5 million for the Children’s Diabetes Foundation of
Denver.
www.childrensdiabetesfdn.orgShell Houston Open, March 26 to April 1, 2007, Houston. Event organizers are so committed to this tournament, they built a
golf course for it this year. Plus, the event raises more than $4 million for several local charities.
www.shell houstonopen.com