“It’s easier to take than to give. It’s nobler to give than take. The thrill of taking lasts a day. The thrill of giving lasts a lifetime.
– Joan Marques
No matter what size your annual giving is and whether it is corporate, group or individualized, certain practices will ensure it is truly money well spent – and that matters!
Now I admit I do not have a fleshed out strategic plan when it comes to my individual giving but there are some “next practices” (better than best practice, I always say) that I follow that I wanted to share as we look forward to another year of wisely invested individual giving.
Asking yourself a few key questions to avoid disappointment is a great place to start no matter what the size of your donation. Here are the four most important initial questions you need to answer to determine the best fit for your donation:
- Do you have a commitment to a specific cause?
For example, I lost my brother to Crohn’s, an insidious intestinal disease – so I have an emotional reason to provide support to an agency that is committed to Crohn’s research and patient care. It is likely we all have lost someone to cancer, so it is not surprising if you wish to focus on agencies addressing cancer care. For most of us it’s all too easy to find that emotional connection.
- What are your indicators of success?
Before beginning to identify who you wish to give to, you really need to identify your indicators of money well spent. This is trickier than it may seem on the surface. There are a few decisions you need to make about what your personal giving priorities are. For example, let’s say you have decided to support a cancer-fighting organization.
There are many ways to support the fight against cancer by focusing on research (often done in larger centres), local activities (daily supports within the community), well-known national agencies like the Canadian Cancer Society (understanding that they umbrella various aspects of fighting and surviving the disease), or post-secondary institutions who offer programs & research dedicated to advancing our knowledge.
You might be surprised by how often donations can be directed out of your community to support projects that are more national in scope. If you prefer to “keep it local” you must be prepared to ask questions. (As I always say, when in doubt, be curious!) The bottom line is to be clear on not only what your indicators are, but whether the agency selected is aligned with them.
- How will my donation be used?
Let’s say you’ve decided your donation will be used locally. Your next step is to keep asking questions, this time about how your contribution will be used. At reachAbility, we have several essential programs from food security to anger management to employment support. If a funder or community partner requests that their donation funds a specific program, then we ensure that’s where that contribution is directed. These requests are becoming more common, which is a great sign that more charitable givers are taking their time and donating with care.
- Finally, Is there a matching funds opportunity?
Oh, how I love bang for buck! One of the most effective ways to maximize your donation’s impact is to ask about matching fund or matching donation opportunities. A number of public funding agencies have points throughout the year where they can maximize your donation by applying a “matching donation” equal to your contribution. Often these matching donation opportunities arise in moments of exceptional need. (You’ve likely seen announcements from various levels of government that they will match public donations to agencies like the Red Cross after natural disasters.) Matching gifts can produce a great source of additional revenue for nonprofits. In fact, an estimated $2 to $3 billion (in the US) is donated through matching gift programs every year. So don’t be shy to ask if, and when (end of year most common) a matching opportunity may arise as it may affect when you give.
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Asking these four questions is a great start to determining where you’ll direct your charitable contribution, but there’s always more to consider. Be sure to ask about charitable receipts (this should be a given), consider visiting the agency you’d like to support, and ask the folks around you for advice. For that matter, ask me for advice! After twenty-five years at the head of a non-profit serving our community, I’ve got plenty of ideas of where and how you can help contribute in ways that result in my favorite thing: a win, win, win. That’s a win for the people in need who are receiving aid, a win for the community that’s stronger for having donations stay local, and a win for you in knowing you’ve donated wisely, efficiently, and to those in most immediate need.
If you have questions about charitable giving or how you can support agencies doing great work in your community, reach out to me at tova@reachability.org or by calling 902-429-5878.
