3 Tips for Starting Your Own Charity

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For those looking to give back to the community and the world at large, there are several options. You can volunteer your time to a cause you care about or you can donate money to an organization you respect. However, another option is starting your own charity. If you don’t feel that there’s an organization out there that fits your mission, you can start your own philanthropy. A charity can be an excellent way to give to those in need and can positively impact all who are involved with it. While starting a charity may seem a bit daunting at times, it can most certainly be done successfully. That being said, it may be difficult to know where to start with such a venture. Below are some tips to consider when starting a charity.

Do research

Before attempting to start your own charity, do adequate research. This tip comes from Joanne Fritz’s article in The Balance. This step is vitally important, as poor planning and preparation can dissolve a charity rather quickly. If you want to lead a successful charity, you need to know what you’re doing. Make sure to research any laws and regulations regarding charities. Research the marketplace of charities as well, such as which ones are successful, and for what reasons. This can help organize a charity that is just starting. Also, make sure you aren’t starting a charity that’s too similar to another or will be overshadowed by an organization that already exists.

Figure out what the charity is all about

Steve Odland’s article in Forbes, highlights the importance of understanding what exactly you want your philanthropy to accomplish. Odland suggests creating both a vision and mission statement. According to the article, a vision statement includes the broad, general goals of an organization and should be qualitative in its descriptions, not quantitative. The mission statement includes more of the quantitative measurements and descriptions such as who and what the charity helps. Mission statements should also include goals for the charity to reach, according to Odland.

Bring out the uniqueness of the charity

This is an important tip that Odland mentions in his article as well. There are many non-profit organizations out there vying for the attention of donors. This competition can make it difficult for a new charity to gather the funds to operate. Having a unique idea and way to contribute to society can help bring attention to the charity. This feature can then help bring in donations that further the charity’s cause.

In the end, there are many ways to give back to the community, both globally and locally. A great way to achieve this goal and make lasting change is through creating a charity. Though starting a charity from the ground up can be challenging at times, it can also be immensely rewarding. Hopefully the tips above help anyone thinking about starting their own charity.

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Businesses that Donate Portions of Your Purchase to Charity

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Charity is a wonderful way to give back to your local community and the world. There are many ways you can participate in philanthropy; volunteer your time, donate your money, or simply raise awareness. You can also patronize businesses that use your money for a good cause. There are a number of businesses who give back to their communities and others by allocating a portion of certain purchases to be donated to a good cause to help people in need. Here are two excellent examples of these kinds of businesses.

Bombas

The name “bombas” comes from the word in Latin for bumblebee. The company’s mantra is “bee better” because bees all work together in a hive with their combined actions having a big impact on their world.

The company puts that slogan on the inside of each pair of their socks to let it be known that you helped someone through your purchase because Bombas donates a pair of socks to someone in need for each pair sold to the tune of more than five million donated thus far!

Bombas had spent two years developing the perfect pair of socks that would give extra support and comfort with extra cushioning on the footbeds, prevent irritation by placing blister tabs by your ankles, reduce moisture, and provide a tight fit at the arches by using a special honeycomb stitching at the middle of each sock. These are carefully crafted socks and many people love them.

The Company Store

The Company Store, primarily a direct-to-consumer retailer of textiles and home goods, has offered everything to outfit your bed including sheets, pillows, mattress pads, and more. When you purchase one of their comforters, their “Buy One, Give One” program also donates one to a child in need.

On Thursday, December 21, 2017, Home Depot announced that it had acquired The Company Store, an e-commerce and catalog retailer. The Wisconsin-based store also has five physical locations, but they were not a part of this deal.

This acquisition adds to Home Depot’s online arsenal, which is an important growth area for the company. Almost 60 percent of store-based and online sales are influenced by a prior digital visit, and online sales of 6.4 percent are double that of the retailer’s nearest competitor. Home Depot’s online business has grown by approximately $1 billion in each of the past four years so it is a key growth engine for their overall business.

With the acquisition, Home Depot has an extra way to help customers complete every room in their house and expand their online décor business into broader categories. The Company Store could also receive a marketing benefit by being a part of Home Depot with its close to 2,300 stores.

These are just two companies that help others when purchases are made by consumers, so feel confident that your money is going to a good cause.

5 Great Books About Philanthropy

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Every philanthropist is all too aware of the intense competition for limited resources; there are only so many donors to go around and philanthropies need large amounts of funding to successfully run and achieve their goals. Regardless of the amount donated, everyone wants to know their money is being spent wisely and achieving the desired results. There are many aspects that go into successfully running a philanthropy, so you need to be informed as a philanthropist.

The following books should stand front and center on every philanthropist’s bookshelf.

Give Smart: Philanthropy That Gets Results: Thomas J. Tierney and Joel L. Fleishman

Tierney and Fleishman give practical guidance to both donors and organization leaders. It addresses central questions for every philanthropist on executing strategies and gauging success. Case studies, including the Bill and Melinda Gates Foundation, provide valuable insight.

Wealth in Families: Charles W. Collier

Collier, once Harvard’s senior philanthropic advisor, addresses sharing family values through philanthropy. He discusses the role of philanthropy in teaching family values and in passing both values and assets to succeeding generations and how this tradition can benefit the world at large.

Leap of Reason: Managing to Outcomes in an Era of Scarcity: Mario Morino

Morino’s book is an essential read for nonprofit leaders and donors alike, providing valuable, hard-won insights into measuring success. It covers the importance of clearly defined aspirations, gauging progress, making mistakes, adapting quickly, becoming more effective, and always remembering the goal is improving lives, no matter what specific cause you’re working toward.

Good to Great and the Social Sectors: A Monograph to Accompany Good to Great: Jim Collins

Collins’ monograph counsels the social sector, following his book Good to Great: Why Some Companies Make the Leap…And Others Don’t. Many social sector readers of Good to Great had specific questions on applying his advice. Collins concludes the crucial difference isn’t between business and nonprofits, but between great organizations and good ones.

The Essential Drucker: The Best of Sixty Years of Peter Drucker’s Essential Writings on Management: Peter F. Drucker

Drucker is well-known as a management guru for both for-profits and the social sector. This compilation includes 26 of Drucker’s core writings on management and effective execution, as essential for social change as for business success.

Each book deserves multiple readings and careful thought because they can benefit you in various ways. Whatever the social issues that most concern you, being able to judge and perhaps even improve the effectiveness of those implementing those changes is primary. Incorporating the principles outlined in these books with your values will improve the effectiveness of your philanthropy.