Charity Investing
Kiplinger's Personal Finance Magazine has an article this month about how donors need to do the same amount of homework in identifying good charities as they would automatically do before they invested their money in for-profit companies. Some of the hard-hearted advice they offer up is that donors should demand results, recognize that efficiencies matter, avoid financially-weak groups, look for charities that are growing, factor in CEO pay, and utilize the web to do your research.
Of course, these are the same things we say every day, and charities howl at us for trying to treat the sector like the stock market. But if a respected, real-world financial magazine like Kiplinger's says it, I suspect it may be seen differently.
Of course, these are the same things we say every day, and charities howl at us for trying to treat the sector like the stock market. But if a respected, real-world financial magazine like Kiplinger's says it, I suspect it may be seen differently.
Labels: charity efficiencies, Kiplinger's Personal Finance Magazine, stock market
posted by Trent Stamp at 2:09 PM
3 Comments:
[mr_ed]:
Nice exposure for CN - good job!
Please check 'Smile Train' of Washington DC...children with cleft palates aided. Very high ratings.
When you donate to charity you MUST do your homework or else you're just throwing money away. Even if its just a small $5. or $50 dollar donation, you need to know how the money is used in relation to the mission statement of the organization. Then, you need to assess the situation and figure out if your money is really doing good. I generally advise people to make a site visit to the charities that work with so they can see exactly why they spend their money in a certain way. I also suggest that people talk to volunteers, especially for overseas charities, because sometimes organziations that sound good on paper are so dishearteningly disorganzied that you know your money is better spent elsewhere.
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