Things to consider before making a donation
Donating to charity can be good for both you and the cause you have chosen. Not only will it help you to feel good about yourself as well as improve your mental health, but you can save lives by donating to crisis response charities.
Before donating to disasters, especially if you are thinking about ways that businesses can give back, you will need to consider a few things.
If you are considering donating to emergencies there are some aspects to think about. Allow your employees to provide you with a charity of their choice to donate to or consider volunteer work if you have a smaller budget.
You could even sponsor an event with team building aspects to make it fun and entertaining. However, you will also need to think about your budget for donating to disaster responses or disaster relief. Keep reading below for things you need to consider before making a donation.
What is your budget?
Before you decide to make a tax-deductible charitable donation, you will need to think about your budget. This is especially true for small business owners, as you might not have a large amount of money to spend on donating to charity. And you can create this budget by not waiting until the end of the year but encouraging your employees to contribute throughout the year.
A simple way to calculate your budget is to look at the money that is left over after all deductions have been made. This will show you how much money you have left over to donate to charity. Be sure, however, that the amount does not exceed what you are able to spend each month. It should not be more than the amount you have left over after all deductions.
What is the charity’s mission?
Understanding the mission of the charity is vital, as you will need it to align with your own mission. And you will also need to find a charity that does not give vague and generic statements, such as “aiding impoverished nations” or “spreading good to the world”. The more specific the mission statement is, the better because transparency is very important.
Charities who are legitimate will often have a detailed mission statement which outlines exactly how they plan on executing these goals. You should look out for information on how the charity’s initiatives are run, what goals have been achieved so far and what they are still working on, as well as how your donation will be used. This mission should align with your own.
Don’t confine your choices
Confining your charity choices only to those which approach you might be detrimental, as you will be missing out on one which aligns directly with your mission and values. You can do some research on charities that are in need of help and that inspire your employees to do good and make a difference.
However, you should not dismiss those who are asking for help but should rather try to align with one that matches your company values. And you will need to be certain that the charity is legitimate as there are many with similar sounding names and missions which could be confusing. Make sure you know exactly what the charity is about before you make a decision.
Have they achieved their goals?
This is arguably one of the most important things to think about before donating to crisis response charities. You can look on their website and find out if they have met any of their goals and if they have not, you should think very carefully about donating to them. If you want to donate but are hesitant, you could send in an email asking about why they have not reached any goals.
For example, if one of the goals of the charity was to distribute goods to those who need help during a crisis, find out if this was achieved. Many charities will post on their social media platforms about their activities or even on their website via posts and press releases which makes it easy for you to ascertain whether or not their goals are being met. You might need to do further research into this in order to make a final decision.
Doing good is good for business
As a business owner, whether your business is small or large, donating to charity is good for business. But you need to be a little savvy before you make a decision on which charity to donate to.
Start by looking at your budget and ensuring that the charity mission aligns with yours. Move on to finding out if they have reached their goals and remember not to confine your choices simply to those who are asking for help.