During the holiday season people receive countless requests to donate money to support worthy causes. NP Source reports 30% of all annual giving happens in December with 10% happening in the last three days of the year.
However, taking the current economic climate into account, charitable dollars may be harder for nonprofits to find. Giving USA reported that when adjusted for inflation, charitable giving went down by more than 10% in 2022 after two years of increased giving during the pandemic. According to Charity Navigator, 41% of charities they surveyed raised less money during 2022.
So how do you decide which organizations to contribute to and which to leave off your list?
- Go with your heart – Everyone has different interests and comes from a variety of backgrounds. Pick a cause that is meaningful to you, and you will feel better about giving. Whether you lost a loved one to a disease and want to contribute to research that spares others the heartache you experienced, or if you love to read and want to put books in the hands of people who can’t afford them, having a personal connection with the cause is important.
- Do your homework – Ask tough questions before you donate money. The Massachusetts Attorney General’s office put out a list of dos and don’ts about donating, which include making sure you know the name, address, and website of an organization, what the money will be used for, and how much of the money will go to the work of the nonprofit versus their operations or fundraising efforts.. There are a number of websites to help you do research including Charity Navigator.org, and Charity Watch. Also, nonprofits often post their annual reports on their websites, which offer information about their impact and how they allocate funds.
- Decide the best way to give – There are a number of ways to contribute. According to a WalletHub survey, 47% of Americans say their charitable giving will be affected by inflation. If you cannot give, there are other ways to contribute. Consider volunteering your time and expertise to an organization. Or perhaps donate food or gently used clothing and household items to people in need.
Teak has a wonderful roster of nonprofits that are worth considering this year. Whether your passion is for the environment (New England Aquarium, The Nature Conservancy, Health in Harmony), ending food insecurity (Project Bread, Food for Free), supporting the needs of children (Big Brothers Big Sisters of Eastern Massachusetts, Cradles to Crayons, Home for Little Wanderers), ending urban violence and poverty (Uncornered) or the region’s museums and historic sites (Now + There, Old North Church, Cape Ann Museum, Davis Museum) there are many great organizations that can use your help. Pick the one that works best for you and donate!
