The Best Charities to Support: Top 3 Tips to Help You Decide
Do your research so you can donate to charities online with confidence!
With so many exceptional organizations to support, it can be hard to know which ones will do the most good with your money. If you’re having trouble deciding on the best charities, it’s important to research before you donate. Evaluating metrics like fundraising efficiency ratio and more can help you ensure that you’re making the biggest impact possible for the cause.
Read on to learn our top tips for choosing the best charities, and get giving today!
Tip #1: Understand Important Charity Metrics
Identifying the best charities to donate to often depends heavily on the financial efficiency of the program. There are four main metrics to evaluate: program expense ratio, administrative expense ratio, fundraising expense ratio, and fundraising efficiency ratio.
Program expense ratio determines how much of an organization’s budget is allocated toward the mission through programs and services. Basically, organizations that underspend on their budgets don’t make as much of an impact on their mission. Administrative expense ratio shows how efficiently a charitable organization recruits and trains talent while keeping expenses low.
Next up is fundraising expense ratio, which measures an organization’s fundraising expenses compared to total expenses. This metric is used to determine if an organization is overspending on fundraising, thereby reducing the money that gets put toward the mission. And finally, we have the fundraising efficiency ratio, which determines how much a charitable organization spends to raise $1 in contributions.
Tip #2: Look Up Charity Ratings and Mission Statements
Altruity makes it easy to discover and compare overall charity ratings and mission statements, so you don’t have to do all the leg work before you donate. All of our ratings and charity data are provided by Charity Navigator, the world’s largest nonprofit evaluator.
Charity ratings and mission statements can be found on the Donation page of our website using our Mission Tiles or Charity Spotlights to help you find the best charities that align with your values.
Tip #3: Verify Regulatory Compliance
Regulatory compliance is another important factor when choosing to donate to charities online, because State regulations help you verify the authenticity of an organization.
Altruity is committed to positive impact, integrity, and transparency. That’s why our Regulatory Compliance page details how the Altruity Foundation, a 501(c)(3) charity, and Olithan Solutions, a professional fundraiser powering Altruity, complies with the registration requirements for each state.
Even if you don’t make a contribution through Altruity, we encourage you to use this information and all provided search links to make sure the charity you choose is registered in your state.
Altruity is here to help you every step of the way, offering helpful and honest evaluations of your favorite organizations. Create your free profile today to get started, and check out our blog for more resources!