Experts Urge Donors to Plan Charitable Giving, Conduct Thorough Research
WASHINGTON – As the year-end giving season approaches, financial experts and charity watchdogs are advising donors to proactively plan their charitable contributions and rigorously research organizations before donating, ensuring their funds have the greatest impact.
Experts emphasize the importance of self-reflection before opening wallets. “People have to figure out how much they’re willing to give, and then really ask themselves some deep questions about whatever changes they want to see in the world,” said one expert.
Developing a giving plan - including identifying causes, selecting recipients, and establishing a budget - can definitely help donors avoid impulsive decisions and resist pressure tactics. ”Once you’ve identified causes, selected recipients and made a budget, it’s easier to avoid impulse gifts or pressure to act quickly to support an issue or organization you don’t know very well,” experts note.
For those contacted by solicitors, a polite but firm response is recommended. “If you get a call from someone asking you to support what they care about, you can honestly say, ‘I already have a plan for this year. Feel free to send me information, and I’ll consider it for my plan next year,'” advises one financial planner.
Crucially,even if an organization is already favored,due diligence is essential. “Before deciding where you want to give – even if you already have an organization in mind – it’s important to do your research,” experts say.
bennett Weiner, president and CEO of the Better Business Bureau (BBB) Wise Giving Alliance, points out that most donors don’t bother with this step. “This may sound like the simplest thing, but the vast majority of people are not going to bother to do that,” Weiner said. “While most of the time that will work out, sometimes you’re going to be disappointed when the facts are revealed.”
Donors should be wary of emotionally manipulative appeals. Weiner cautions against “heart-wrenching appeals that bring tears to your eyes but say little of what the charity is doing to address the problem.” He also warns that fraudulent organizations often mimic the names of legitimate charities.
