Charitable Giving........

[FinanceDude]

Just curious.............I suppose there will be some fibbing here too...........

For me, it WAS 10% to church, and about 5% to different charities a year.

NOW, it's 5% to church, and the REST to my sister's memorial fund...........somehow I don't feel like giving the Susan G. Komen foundation money anymore........if that sounds bad I'm sorry.............

 

[LKH]

Good question! Thanks for bringing it up.

Another good question is what KIND of charities people give to. I spend a good part of my working hours going through financial statements for various charities. Some of the "blue chip" charities that get a LOT of donations really don't use the money well, and some, IMO, don't do things that deserve that much money, but to each his own.

I tend to give to charities that have a faith component, but they also have to provide aid and support to needy people. And I give to a few animal protection groups like the Human Society. I look at their financial statements, too, to make sure that they use their money well, and mostly on programs as opposed to administrative costs. I look at the salaries of their top-paid execs - I expect that they should be reasonably compensated, but if their income looks like they are CEO's of top multinational corporations, the charity is off my list.

Some good sites to check out are www.guidestar.org, irs.gov, and give.org, though I think some of their requirements are ridiculously strict (they deduct points if the organization's board doesn't meet often enough for them, or if members of the board get compensated, even if they also serve as employees).

L

 

[Nords]

Just curious.............I suppose there will be some fibbing here too...........
For me, it WAS 10% to church, and about 5% to different charities a year.

Spouse's comment was about stewardship: she didn't want to be caught dead with $5 million in her brokerage account.

Not that either of those is likely to happen for many years, and only one of them is certain...

 

[Goonie]

I give to charities (not sure the exact percentage) that I know will (and DO) use it to benefit those who need assistance.....a local facility for the mentally and physically handicapped, the LOCAL chapters of both the Red Cross and the Salvation Army, and Habitat for Humanity (they've built a few homes here locally).

I also donate to my local garden club, and to a couple of botanic gardens and arboretums. And occasionally to other charities and non-profits....like Little League, Pony League, Lions Club, Kiwanis, Elks Club, Knights of Columbus activities that raise money for the local parochial schools, most any of the veteran's organizations (VFW, Am-Vets, American Legion)

And of course....ANY kid selling candy bars for ANYTHING!!! Mmmmm! CHOCOLATE!!!

 

[Sheryl]

I make less than $100k. I give about $4-5k per year, I think.

The largest donations lately are my Rotary club's foundation (because I have a direct hand in where it goes) and Planned Parenthood, and Adelante (a microcredit lending org. in Honduras that I have visited twice).

In the past I've given to my architecture school's scholarship fund for women becuae I thought it was important to encourage women to enter the program. I'm kind of past that now.

I give smaller amounts to Pure Water for the World (another group I've personally seen the work of) and local charities like the Boys' and Girls club, the Literacy Council, etc.

If I can find the right vehicle I will soon be giving a significant amount for stem cell research, or someone who is working to get the politics out of science in that area.

Some of my "charities" cross the line to political contributions... not always a black and white situation, IMO.

F. Dude - I think your reaction is completely understandable, if not rational. I have a similar reaction to the big Disease-a-thons. Not rational, but I feel like they get all the attention, while the rare, weird diseases that are equally devastating are ignored. I sort of feel like we have to cure cancer, MS and ALS before we can even hope that other disease will be looked at.

 

[LKH]

Spouse's comment was about stewardship: she didn't want to be caught dead with $5 million in her brokerage account.

Not that either of those is likely to happen for many years, and only one of them is certain...

Excellent point. Personally, I believe that once a person has what he needs, he ought to do what he can for others less fortunate. There are lots of creative organizations out there that don't just hand out food and money, but actually HELP people change their lives. I don't want to go to my grave having lived well with money to spare. I want to know that whatever good fortune I've enjoyed served to benefit others as well.