Sweet Charity
Posted by | Posted in Bad Credits | Posted on 18-03-2011
Despite the sluggish economy, Americans donated approximately $300 billion to charities in 2009, with 75% coming from individual donors, according to the Giving USA Foundation.Gregory Karp, reporter for The Chicago Tribune, shares his thoughts about charitable giving. He advises making a ‘giving plan’ for 2011. Ken Berger, president of www.CharityNavigator.org, agrees saying, “’Determine what the things are that really move you…things that night have personally touched your life’” and give your charitable dollars there. He adds, “’…use your head as well as your heart…you’re looking for accountability and transparency and how the charity fulfills its mission…You want to know that they are consistently providing results.’” This site provides information on charities and rates them using a star system. Charities are required to provide you with a tax Form 990, which details their finances. You should expect well-run not-for-profits (NPOs) to use at least 75% of donated monies on programs with the remainder going toward fund-raising and administrative costs.Karp also avers that diversification, while a good plan for investing, is not good for charitable giving. He recommends making fewer, larger donations to the charity. Each contribution entails some administration expenses so it makes sense to keep the number of donations down and the amount high.Hang up on those annoying dinner-time phone solicitations. Up to 95% of donations to some phone solicitations go directly to the marketing company instead of the charity. Ditto to most street solicitors; you never really know how much and if the money is going to where it is intended.A novel idea: start a “giving circle” with your friends to research NPOs and pool donations. You may even be able to get a spokesperson from your charity of choice to speak to your group regarding the aims of their foundation.Kimberly Palmer, author of Generation Earn says of charitable giving, “’It has a psychological upside when we do give back. We actually feel richer when we donate and we feel more confident in our own finances.’”If your personal finances are not showing the same recovery as the country’s, you may be considering filing for Chapter 7 or Chapter 13 personal bankruptcy to make a fresh financial start. Call Legal Helpers toll-free 800-260-1402 today for your initial free consultation or come into one of their 100 offices across the country. For experienced and knowledgeable Chapter 7 or Chapter 13 personal bankruptcy assistance, you can trust the attorneys from Legal Helpers, www.legalhelpers.com.
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