Finance Globe

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4 Tips for Donating Money After Natural Disasters

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From hurricanes to tornadoes to earthquakes, there's almost no part of the world that's safe from natural disasters. In the wake of the destruction that comes along with natural disasters, many of us are inspired to help out by making a donation. No matter how big or small, we want our donations to make as much of a real impact as possible. Here are a few tips for donating money after a natural disasters.

Check your budget to see how much you can afford to contribute.

Your sense of compassion may compel you to donate as much as possible, but you don’t want to put yourself in a difficult situation. Review your monthly budget to see how much extra money you’ll have leftover after covering your expenses. You might consider cutting back some of your optional expenses to allow you to donate more.

Research reputable organizations.

Before you give you a charity, check to see how much of the organization’s donations are actually used to help victims versus how much is used for administration. You want your funds to be used in the most helpful way possible. Checking social media comments about the organizations can be a good way to gauge whether victims are being helped.

Get documentation for your donation.

You may be able to take a tax deduction for your donation, depending on the amount of your donation and your tax filing status. Your accountant or tax preparer will be able to tell you for sure whether you can take the deduction. You should get a receipt for your donation, regardless of whether you’re able to donate. An organization that will provide a receipt is more likely to be reputable.

Avoid falling for scams.

Scams tend to increase after natural disasters. It’s important to be on the lookout for people trying to capitalize on the situation. Proactively researching charitable organizations is one way to avoid scams. Be leery of anyone who approaches you to send a donation, especially if they urge you to donate right away.

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Comments 1

Wanderer on Sunday, 01 October 2017 05:22

Appreciate the advice. Seems that my phone has found the scammers lately and it is hard to know what organizations are real? Sonething I learned was to look up the charities in online searches and examine how much of each dollar actually goes to the cause. Administrative expenses can kill what I am donating for!

Appreciate the advice. Seems that my phone has found the scammers lately and it is hard to know what organizations are real? Sonething I learned was to look up the charities in online searches and examine how much of each dollar actually goes to the cause. Administrative expenses can kill what I am donating for!
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Monday, 16 September 2019

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