The best way to utilize your money in helping the community in which you live is through charities. Every business earns a certain amount of profit which when steadily keeps growing, brings an urge of community service in entrepreneur’s mind. But, once you have decided bring charitable donations out of your profit; it becomes difficult to choose good charities to donate to. Here we discuss some of the major factors you can consider while picking your charity:
Figure out the criteria: You must consider few factors such as the charity size, organization age and whether it is a local, national or international.
Narrow the search: Opt for charities that meet your criteria. You will find more than a million charities and you need to decide which one fulfills your desire to donate in the best way. It is best to choose a charity with proper administration and which is expanded in the whole city or country, so that you can reach out to the masses in an easy and organized manner.
Compare missions: Go for an organization whose mission resembles the values of your company. If you both share the same values, it will be easy for you to work together. List the NGOs that fit your criteria and then focus on those to find the best.
Check if the organizations are registered: If you choose an organization that is not registered, the donations may not be tax deductible. Trust based NGOs that are not listed or registered may still be valid. You must ask for its official listing for its denomination.
Transparency and Accountability: An organization where there are accountability and transparency gets donors very easily. Foundations must allow the organizations to have a track record of financials to make sure that the money is spent as promised. An honest charity will always define its mission and programs clearly which will have assessable goals.
Responsible non-profits will discuss their finances: Any foundation that forces on urgent donations without a scheduled program or a discussed plan should not be trusted at all.
Confidence in Partnership: Do not pair with an organization that makes you feel uneasy because that will never form a good partnership.
A good charity can also be evaluated by looking at the financial statements on the website if any at all. This way, you will be in a position to know just how dedicated the charity is in improving the lives of the disadvantaged members of the community and just how effectively the donations are managed. There is no other genuine way of being comfortable with making a donation than being sure that it will be put to good use.
In case you have doubts about the management of finances, you can request for the statements, which it should provide without hesitation if at all it is a genuine charity with the interests of the community at heart. It should also be a charity whose tax-deductible status is in check and going well with the overall objectives and intentions.
Give your partnership a trial run. Start off with an organization by donating for small projects firstly, and then move on to the large ones. During the small projects, you can observe the working style of the charity and easily check for accountability and trustworthiness. Once you are sure you can trust them, you can move on to the big projects.
The most important thing in choosing a charity to work with is doing your research to make sure you know everything about the charity. Talk to people who have worked with the charity before, volunteer if you can, newspapers, etc. Use all the resources at your disposal to find the most information possible before you start.
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