Charitable Giving Strategies
With the choice of thousands of charities across the world, it can be daunting to choose where to spend your philanthropic capital with confidence that you will achieve an impact. Here are some high level tips for effective charitable giving:
- Choose a cause. Many people choose to focus on a small number of causes. Before you give, think about what you want your philanthropy to accomplish. Take time to identify the cause or causes you care about most and consider where you feel most passionately about the need for change.
- Pick a charitable organisation. Consider whether you want to make a difference in your local community or contribute to achieving change further afield. Then, research your options. Look up the various charities you are thinking about supporting and don’t be afraid to contact them directly to ask them questions about their programmes and how your money will be spent.
- Make a plan. Decide how much you would like to give and try to stick to your budget. Larger gifts to fewer organisations will have a bigger impact than lots of smaller gifts to many different charities. Remember that unrestricted donations towards the core costs of running a charity are essential, so you may want to consider this.
- Stay in contact. Staying in touch with your grantees helps to understand first-hand how the organisations you have chosen to support are changing things for the better – social change takes time! Finally, your support does not only have to be about money – as you get to know a grantee better you might consider supporting them with your time and skills.