On #GivingTuesday’s blog this week, Caroline Fiennes writes about great giving and getting to know a charity better.
Fiennes shares her belief that when push comes to shove, “some charities are miles better than others.” Naturally we like to see the best in all individuals and organizations working to bring about tangible social good, but there are examples of charities with much more effective solutions to problems. If you want to genuinely change lives, these should be the nonprofits you invest in.
This Giving Tuesday, don’t just give, but make sure that you give well.
Fiennes suggest, “If you’re into formulae, think of it as: impact = idea x implementation.” You can only get a better grasp of impact with some basic research into your chosen charity, and there are tools to help, like Charity Navigator or GiveWell. When people think of charity effectiveness, they often think of low admin costs, but you have to remember these costs include impact measurement and collecting better data, as well as the core basics like staff, rent and the electricity. Fiennes even shares “analysis [which] shows that charities with higher ‘admin’ costs tend to perform better.”
Fiennes’ article provides an excellent opportunity for all of us to learn how to make our giving great this year, with some clear points to be aware of, and even tangible examples of what else we can give, beyond just our money. Stay tuned from more from us at Markets For Good on great giving, and making the most out of #GivingTuesday this year.
Many thanks to Caroline Fiennes for her post and to the team at #GivingTuesday for encouraging great giving. Be sure to stay up to date with the campaign on Twitter, either by following them directly @GivingTues or using the hashtags #GivingTuesday and #GreatGiving.