Philanthropy is an incredible thing to do – but it isn’t always easy. How can you pick the best one with so many organizations asking for your help? What are some of the most effective strategies in philanthropy? This article will give you four tips to ensure that your money goes to support the most significant cause possible.

Set goals for your philanthropy efforts.

What is the end goal of your donation? What do you hope to accomplish? By setting goals, you can make sure that your money is used in the most effective way possible. There are several different ways to set goals – whether it’s helping out a specific person or organization, donating to a particular program, or simply donating as much as possible to as many different organizations as possible. Figure out your goals before you even donate, and you will have no problems choosing an effective philanthropic strategy.

Look for effective strategies in philanthropy.

Effective philanthropy is all about making sure that the money goes to the best place possible. There are several different ways to make sure the money is going somewhere practical – you can look for organizations with high ratings (such as 4/4 stars from Charity Navigator), you can do your research into various programs and initiatives, or you can talk to people who have donated before and get advice on sound strategies. Whatever you choose, make sure to ask for advice and do your research before you donate!

Ask about the return on investment.

Philanthropy can be a pretty big time commitment – which means that there should be some ‘pay off’ for all of your hard work. How will this non-profit use my money? How much of an impact will my donation have? It would help if you asked these questions before donating to ensure that time spent on philanthropy is worth it. Generally, the more ‘effective’ a charity is, the more likely there will be a good return on investment.

Be wary of scams and other bad organizations.

Unfortunately, not all philanthropy organizations are effective. There are quite a few scams out there where people claim to be doing charitable work, but their money goes towards other things instead. There are several ways to spot these scam charities – watch out for poor ratings on Charity Navigator, do your research into the organization before donating, and check websites like Charity Watch and Give Well to make sure the organization is legitimate. No matter what, be wary of organizations that seem like they could be scams – if something sounds too good to be true, it might not be a very effective philanthropic strategy!

Bottom line

Philanthropy is something that every person should do – it’s an incredible way to make a difference in the world, and there are so many different ways that you can help out. By following these five tips, you can ensure that your money goes towards effective philanthropic strategies!