Sustained giving
Extending generosity beyond the holidays
If your finances are in better shape this giving season, you can be more strategic with your dollars. Here are tips on prioritizing causes, supporting them effectively and making room in your wallet for sustained giving.
1 Shape your plan
Write down the two or three causes that matter most to you, whether it’s a global issue like slowing down climate change or something closer to home, like supporting your local animal shelter. This is the start of your giving plan.
Think about the kind of philanthropist you want to be in 2022 and then plan for it, says Holly Belkot, manager of strategic giving at GlobalGiving, a nonprofit based in Washington, D.C., that supports other nonprofits by connecting them to donors and companies.
2 A regular donation can make a big impact
One powerful way to champion your favorite cause is through small, recurring donations. The majority of one-time donors do not come back to support a nonprofit, and it’s a resource-intensive process for the organization to find new ones, says Soraya Alexander, chief operating officer at Classy, a digital fundraising platform for nonprofits based in San Diego, California.
Just as a monthly budget allows you to plan your spending, these donations allow nonprofits to plan operations for the year. Since many organizations automatically sign up regular donors to receive newsletters or project updates, recurring donations also allow you to stay engaged with the group.
3 Choose which organization to support
“It can be really overwhelming when you care about something but you don’t know what the ‘right’ nonprofit is to support,” Belkot says.
To solve this conundrum, GlobalGiving selects a handful of nonprofits working on the same issue and groups them together into a “fund” that individuals can donate to. Examples include a Girl Fund, aimed at improving the lives of girls around the world, or a Climate Action Fund. Donations are divided equally among the nonprofits, she says.
Resources like Charity Navigator, Candid (formerly GuideStar) and your local Community Foundation website also are good ways to vet nonprofits and pick ones that resonate with you.
This article was provided to The Associated Press by the personal finance website NerdWallet. Want to suggest a personal finance topic that Quick Fix can address? Email apmoney@ap.org.