By Laurie Fox, the Will Power Campaign
With so many charitable organizations doing important work, deciding where to give can feel overwhelming. Laurie Fox, director of the Will Power campaign, answers some of the most commonly asked questions about charitable giving — from how to evaluate a charity’s effectiveness to including one in your will.
What are the best charities to donate to? Large or small? Local or national?
There is no ‘best’ charity – this is about your story and your values. It all comes down to what resonates with you. If you’re unsure, a great place to start is with charities you or your family already have a connection to. Maybe you’ve volunteered, donated before or even benefited from their work. If you can, narrow it down to three that feel meaningful so you have options to work with.
How do I know if a charity is legitimate and will be around for the long run?
The last thing you want is to invest in a charity that doesn’t feel reliable. There are ways to make sure your chosen charity is the real deal. Look for:
– a solid online presence (i.e. websites, social media and active communication)
– clear contact information that works
– transparency about mission, achievements, and finances
– track record — organizations that have been around a few years and have a supportive community
– check Canada Revenue Agency’s charity listings to confirm good standing
– visit www.willpower.ca to view profiles of charities local to Grey Bruce
How do I know if a charity is effective?
Here’s the scoop: charities don’t run the same way as a typical business. Their impact isn’t measured by ROI or how low they keep their costs per dollar raised. Websites that rank charities in this way don’t tell the full story.
Instead, focus on the heart of it. Is this charity achieving the goals it set out to accomplish? Look at their mission, their impact, and their testimonials. This can usually be found in their annual reports. Are they making the world a little brighter in the way they said they would? That’s what counts.
What percentage of my donation goes to the cause? Are administrative costs low?
Let’s bust this myth, here and now. Low administrative costs do not necessarily mean a charity is effective. Running a charity takes people and resources. Administrative costs are what keep the lights on and pay the staff that are doing the good work.
Instead of zeroing in on percentage, ask yourself: is the charity fulfilling its mission effectively? Are their programs creating real, measurable change? If the answer is yes, trust that your money is going to a good place.
Choosing a charity that aligns with your passions and including it in your will is a simple, powerful way to make a lasting impact.
How to include a charity in your will
Step 1: Pick a charity (or two) that aligns with your passions. Ask how your gift could be used, they can give you the right wording for your will.
Step 2: Decide on the gift. You can leave a specific amount, though many people leave a small percentage of their estate to charity.
Step 3: Wrap it up with a professional. A lawyer, notary, or online will service can add a simple clause to your will that outlines your wishes. Loop your financial advisor in. Tax incentives can help your gift do more and save you money.
Can I leave a gift and still provide for family?
This is one of the biggest questions people have. And the answer is, yes, you can absolutely support a cause you care about and provide for your loved ones. Leaving even one percent of your estate to charity can make a meaningful difference, while 99 percent still goes to family.
Pass something meaningful on to the people in your life. A gift in your will is a powerful way to model generosity and giving back, one that can inspire family and friends to carry those values forward.
Laurie Fox is the director of the Will Power Campaign. She has made it her mission to show all Canadians the power they have to do more simply by giving in a different way. Learn more at www.willpower.ca.
This story was provided by Community Foundation Grey Bruce for commercial purposes.
