Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Selecting Charities for a Trust
Old 08-14-2018, 06:39 PM   #1
Full time employment: Posting here.
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 983
Selecting Charities for a Trust

I'm going to get a Trust set up, and I want to give 50% to charity, spread out among maybe 5 different charities. So I'm going through the process of trying to select charities and wondered if anyone had any input.

I know the first step is to figure out what causes I want to support, and of course that's a personal decision. I've got that maybe 80% figured out. Help the poor, support animal welfare, maybe support a political cause, etc.

So my question is, were there any particular tools or strategies you used, in selecting the charities that you plan to leave money to in your will/trust? I'm talking about a fairly sizeable chunk of cash, so I want to select carefully.

I've come across Charity Navigator, which seems to rate charities based on "transparency." And then there's Charity Watch, which seems to rate them based on how much money the charity spends to make a dollar. Those seem useful.

Any other thoughts? I'm just looking for any input/experience.
__________________

ER Eddie is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-14-2018, 07:27 PM   #2
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 2,191
I use guidestar.org to get nonprofit tax returns. If you're not used to reading this stuff, you might want to get someone/a CPA to help until you get the hang of it. I look for things like:
High staff salaries and names that look like dad, wife, and kids. i.e. nepotism

High expenditures for fund-raising.

Other high expenses (travel, entertainment, etc.) that take away from money used for the charitable purpose.

High balances in reserves unless the organization needs handy cash to deal with emergencies like epidemics, natural disasters, etc.

Suspicious expenditures to outside organizations.

For-profit subsidiaries; this is a good place to hide bad behaviour and nepotism because no financial information is released.

Odd or suspicious explanations in the supplemental information at the end of the return.

This is hardly bulletproof since there can be fraud, but I think it is a good place to start.

guidestar requires a free registration for access to tax returns but over several years I have never been spammed or otherwise regretted registering.

If you're talking serious money, consider visiting. It's a tax deductible expense IIRC. If the charity is local, consider volunteering.

HTH
__________________

OldShooter is offline   Reply With Quote
Old 08-14-2018, 07:34 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 12,938
We chose the causes we want to support, and used Charity Navigator among other sources to pinpoint the 5 .orgs we’ve named as beneficiaries. Not weighted equally but those are personal choices.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Help choose military charities receiving donations from "The Military Guide" sales Nords Other topics 18 01-05-2011 06:07 PM
Retailers strong-arming customer to support charities Leonidas Other topics 32 02-05-2010 01:37 PM
Favorite Charities, holiday time or otherwise? Zoocat Other topics 13 11-27-2007 10:01 PM
What charities do people give to? Hamlet FIRE and Money 53 04-14-2007 03:01 PM

» Quick Links

 
All times are GMT -6. The time now is 06:07 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.