Forty billionaires have pledged to donate a substantial portion of their wealth to charity with the hope of inspiring others to donate to worthy causes as well. While the dollar amount might be less, Better Business Bureau of Southern Arizona encourages everyone to give like a billionaire by researching any charity fully before making a donation.
BBB recommends the following five steps to give like a billionaire:
- Take the time to check the organization out with the BBB Wise Giving Alliance and the local charity registration office (usually a division of the state attorney general’s office). Don’t be pressured to give before you do your research.
- Consider more than just the charity’s finances. Impressive financial ratios are not a guarantee that a charity is being run ethically and effectively. Review the BBB’s Standards for Charity Accountability to identify fundamental features of an accountable organization.
- Don’t be fooled by names that look impressive or that closely resemble the name of a well-known organization. Sometimes name similarity is used as a ruse to confuse the potential donor. (more…)