| 'Tis the season of giving. Here's what to do before making a charitable donation | | |  | WED, DEC 02, 2020 | | | | It's been a surreal year and many of us are now feeling that it's time to make a positive difference for those in need.
With that said, you want to donate money to a cause you care about and you want to make sure that donation truly counts.
That's great stuff.
However, the sad truth is that not all charities are created equal. With social media part of our daily lives, it is inevitable that we will be hit by some charitable scam. Many scammers use social media to pretend that they are acting on behalf of a well-known charity. Others will use some heart-breaking tragedy to create phony websites and seek contributions that will never make it to those who actually need the money.
Before you make that donation, do some research to make sure a charity is reputable and uses its donations responsibly. You should know, for example, exactly how much of your donation goes to the program you want to support. Don't donate until you're sure it will make a difference. There are some things you can do to make sure your donations get where they'll do good — and help you avoid donating to a scam.
The Federal Trade Commission recommends you check out the charity's website and also see what your state's charity regulator has to say about the charity. Look it up at nasconet.org.
The FTC also suggests you use one of these organizations to help you research charities: BBB Wise Giving Alliance, Charity Navigator, CharityWatch and GuideStar.
Take these steps to find a charity that aligns with your goals and makes effective use of donor money. By doing this, you can give confidently, knowing that your donation is going to a worthy cause.
For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow.
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