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generation money
generosity
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holiday giving
money
Personal finance
teens
Date
December 18, 2013

Generation Money: Holiday Giving

Transcript

Scott: This is the time of year to give, but that doesn’t just mean to your friends and your family. And in today’s Generation Money, Tom Hanson has a tale of how to give with an impact.

Tom: ‘Tis the week before Christmas

And all cross the land

People are helping each other

By lending a hand.

Drop a coin in the bucket

Or put clothes in a box

Write a check, send a text

Before hanging your socks.

This holiday season

Don’t be a Grinch

Here’s an expert to make holiday giving a cinch.

Chrysula Winegar: Any one of us can be a philanthropist. A friend of mine and mentor, Aaron Sherinian, at the United Nations Foundation, coined the term ‘philanthroteen.’ And I love that term! Philanthroteens are real and they are changing the world.

Tom: Chrysula says donating now

Is easier than ever

And she has some ways

That she finds quite clever.

Chrysula: Our generations, and the younger generations behind us, we want to give online. That’s where we’re comfortable. And we want to be able to do it on our cell phones as well. And that, you know, the tools exist now. They didn’t exist before. But there’s an incredible amount of opportunity there for easy, straightforward giving. And any charity worth their money will be making sure that they can make that really simple for us.

Tom: But how do you make

The most of your cash?

And make sure your gift’s

Impact will last?

First, choose a cause

That you’re passionate about

Otherwise it’s easy

Not to stick it out.

Chrysula: Think about what matters to you. Is it getting a textbook in a kid’s hand? Is it technology? Are you interested in coding?

Tom: Next, do your homework

And research the group

Learn how money gets spent

So that you won’t get duped.

Chrysula: There’s multiple websites. For example, Charity Navigator, Guide Star, Charity Watch. Those are the three big ones that come to mind, where you can literally go in and plug in an organization into their search mechanisms and see what is being said about them.

Tom: Check out how much goes

To the group’s overhead

Costs for fundraising, wages

How it stays ahead.

Chrysula: You actually want to be careful of an organization that says they have no overhead. What that says to me, generally speaking, is that they’re not going to be sustainable. They’re not going to be here in a year, two years, five years down the track. And it depends on the organization, what kinds of programs they’re offering as to what that number should be. But, you know, sort of a general guideline is somewhere between 15% to 22%. Often an organization might have a relationship with a corporate donor where the corporate donor pays for the overhead. And that way, they can say that all the money’s going to the program. That’s fantastic!

Tom: So you’ve finally found

A charity for you

To make the most of your funds

Here’s what you do.

Make multiple donations

Spread out through the year

You’ll donate more

To the cause you hold dear.

Prepare in your budget

To pay for your gift

So you’ll never go broke

Giving someone a lift.

And finally,

On social media accounts

Share your donation tips

So that support mounts.

Chrysula: Our friends are more likely to give to the causes that we care about when we share what we give and why we give.

Tom: This holiday season

Be sure to spread cheer

Get out and donate

Now and all year.

Scott: For a list of charities and ideas for giving, go to Channelone.com.

Correlations

One comment on “Generation Money: Holiday Giving

  1. Austin

    Your right hoildays is not about getting it is about giving not getting and is is mosly about family and most of all is giving

    Reply

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