Charity Report: An Organization's Finances Are Only One Piece Of The Puzzle When It Comes To Giving
PHILADELPHIA (CBS) – Thinking of donating this holiday season? If you're basing how much trust you place in a charity on finances alone, you're doing yourself a disservice.
That's according to data from the BBB Wise Giving Alliance posted on Give.org.
The report claims 46% of Americans make decisions about giving to a charity based on finances, with just 20% considering ethics and only 11% focusing on results. Fourteen percent say they give based on name-recognition.
And the BBB Wise Giving Alliance says that's a mistake.
"Donors using only one piece of information may have a false sense of confidence," says Art Taylor, president and CEO of BBB Wise Giving Alliance, on Giving.org.
The organization says it's important to consider multiple facets including governance, effectiveness reporting, finances, appeal accuracy and other issues to assist donors in making informed giving decisions.
Americans feeling philanthropic are urged to look into a nonprofit's background using the data from the BBB Wise Giving Alliance before opening their wallet.
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