Given the current America's car donation system, it is easy for car donors to take advantage by donating their cars, although with a little risk that too, to the worthy charity. Following are some of the tips which can reduce that risk, and maximize the value that in fact gets to charity. In addition it will enable you find the right charity for your car donation.
Ensure Your Intended Organization is a 501 (c) (3)
Albeit several organizations claim non-profit status, donations to 501 (c) (4) charities are mostly not tax-deductible. Ensure that your intended car charity falls under the status of 501 (c) (3) public charity.
Be Proactive In Your Giving
Car donors usually avoid responding to the first organization that appeals for assistance. They take time to determine which reasons are important to them and their families. They are particular about the change they look for. Chose the charity which suits the changes you wish to see through your donations.
Careful Of Sound-Alike Names
Don’t get confused by charities that share similar names. Their names may appear to be the same, but their portfolios are entirelydifferent. So take time to unearth the difference and be an informed donor.
Check Charity's Commitment To Donor's Rights
Obtain Copies of Financial Records
Financial health of a charity is a direct manifestation of the charity's programmatic performance. Being a donor, you should seek out charities that can grow their revenue at least matching the rate of inflation, so that it can continue to invest in programs and can save some money for rainy day.
Review Executive Compensation
Delicate car donors are aware that charities pay their top leaders a competitive salary to retain the kind of talent required to run a multi-million dollar organization and showcase productivity. Sophisticated donors also take CEO's salary into consideration in evaluating the overall performance of the organization. They know it is good to donate to a charity with a well-paid CEO that is meeting its aims than to contribute to a charity with an underpaid CEO that fails to perform according to its promises.
Start Dialogue To analyze Its Programmatic Results
Although it takes some time and effort to evaluate a charity's programmatic influence, donors who are dedicated to see real change are of the mind that it is worth their time. Before making contribution, talk with the charity to have the idea of the accomplishments, goals and challenges of the charity.
Concentrate Your Giving
When it comes to monetary investments, diversification is the key which can cut down the risk. The reverse applies on philanthropic investments. You need to take time off to identify a well-managed charity that is involved in a cause you are passionate about, you would be happy to donate such charity. Donating money among multiple charities will not only lead to the filling up of your mail box with more appeals, but it also dilute the possibility of any of those groups advancing towards some substantive change as all charity will be wasting a large amount of your donation on your gift and overhead expenses.
Share Your Intentions and Make Long-Term Commitment
Smart donors substantiate their favorite charities for the long run. You can act as a partner in the charity's efforts to witness changes. It is only long-term, committed support because of which a charity can be successful. Don’t shy away to inform the charity of your giving plans so that the charity will know it can rely on you and the it will not waste resources and harass you by sending numerous solicitations.