Got big money in your bank account and wondering about what to do with it? Pretty simple; donate it! Donating money has always been the one of the most noble causes that one can do with one’s money. There is big difference between people on the basis of money. Some are earning more than they need to live life, while some are even not able to make their both ends meet. If you are from the first type of people, then let me tell you that it’s your duty to help second type of people. The best way to do so by donating money to charity or any person fundraiser. But, don’t donate your hard-earned money in hurry. Before you donate, make sure that money will reach the needful. Here is the list best things to do before you donate your money.
Where is the Money Going ?
Your intention of donating money is to help someone needful, right? But how you can be sure that money donated by you will reach to the hands who need it the most? There are many charity frauds that have been there lately. Maybe your charity is also a fraud? To clear this confusion, you must take time to find out where your money is going. Believe me, doing so is not any tough task. Do it!
Understand the Cause
Like I said, the charity frauds are quite common to spot. So, before you donate your money, make sure to understand the cause. You must check out all about the cause, so as to make sure that money donated by you with the good intention, would actually be used in the noble cause. Don’t hesitate to ask questions to charity person, if you have any. You must also understand about how will charity track its success.
How Much Percentage of your Donated Money Will Go to the Cause ?
Don’t be in the misunderstanding that every single dollar donated by you will go as it to the needful hands. It may go like that, but in the rare cases. There are some charities which work in the way that minimum money is spent on the program handling, so that maximum possible can reach the needy hands. Talk with your charity or fundraiser to know about the percentage of your donated money that will go to the cause for which you are donating.
Check the Track Record of Charity or Fundraiser
If you donate money to well-renowned charity or fundraiser, then believe me, things get hell lot easy. Trust is hard to earn, and not all can earn it. To check if your charity is trust-able or not, just check out its track record. Simple!
Is your Donated Money tax deductible ?
Check out if the cause for which you are donating your hard-earned money is registered charity or not. In case it’s a registered charity, then your donated money is tax deductible. If it’s not registered charity, then your donated money is deductible. In the latter case, your donated money is just like personal expense, nothing else!