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23

Which charitable cause is the most worthwhile one? That's a very broad and difficult question, both ethically and practically. I do not fathom to estimate whether a dollar spent on vaccinations in country A is worth more or less than a dollar spent on education in country B, clean drinking water in country C, helping the homeless in country D, protecting a ...


16

You're clearly aware of the subjective nature of your question, so I won't hit too hard on that point, but I think it would be worthwhile to spend a bit of time focusing on the type of impact you'd like to have. You clearly want to make an impact, so it would be helpful to think about issues that matter to you. Comparing causes is like comparing apples to ...


8

In the UK the primary way for most people to claim back tax on charitable donations is through Gift Aid; this is only meaningful to you as an individual if you are a higher rate tax payer, as the charity claims back the basic rate portion of tax and you claim back the higher rate portion. Gift Aid is only applicable to cash donations. If you donate physical ...


7

Assuming that this was a direct sign up to donate to Save the Children via text, and not via some third party broker or agent, then Save the Children get 100% of your donation. They have the details on their website: What happens when I sign up? You'll be charged £3 or £5 plus the cost of one standard rate text message in the first month and we'll ...


6

How big or frequent of a donor are you? For larger donors in the U.S., there is the Donor Advised Fund. You donate to the DAF, and the money can either be re-donated onward to a charity of your choice, or stay there and be invested (the choices are similar to a 401K, index funds, bond funds, etc.), and later donated. As far as anonymity, you simply tell ...


6

You ask: How do I find the charity that will save the most human lives per dollar donated? You do it by first being clear about your goals and the means you want to use to achieve those goals, and then connecting with people whose business it is to interact with such charities. In more detail: Define carefully what "save" means: prolong healthy life, ...


4

According to the Australian Taxation Office, Organisations entitled to receive tax deductible gifts are called 'deductible gift recipients' (DGRs). You can only claim a tax deduction for gifts or donations to organisations that have DGR status. On the same page, they provide a link at which you can check the DGR status of the organisation of interest: You ...


3

tl;dr: Your idea is mathematically a good one, but maybe you still shouldn't do it. I believe you're on to something with postponing your charitable donations, but for a different reason than you're thinking. It sounds like the change in the standard deduction from 2017 to 2018 affected your ability to deduct donations (as it did many people), since it ...


3

When it comes to making financial changes to reduce tax liability, there's (usually) no free lunch. You generally can't save money on taxes without directly or indirectly incurring costs or losing money elsewhere. There are lots of ways to shift things, but not many (easy) ways to "win" in the sense that you seem to be wondering about. In your scenario, the ...


3

When I was first working after college the company I worked for, and other companies competing for US government contracts, liked to be able to claim in their bids for contracts that the were patriotic and good citizens. They did this by being able to claim 100% participation in purchasing US Savings Bonds and 100% participation in donating to charities ...


3

You should try to find an organisation you can trust. Find information how expensive they are (which percentage of a donation is really given to the target), how they assure that donations get to the right target and don't get "lost" on the way, how they select their targets, etc. Of course you can refer to benchmarks/comparisons like https://www.test.de/...


3

Maybe what you need is not only to get numbers about how many people your money helps but being somehow involved in making a HUGE difference in someone's life. I'll share my personal experience with you. I live in Argentina. I´ve been a donor many years to Greenpeace and other multinational organizations. I made my monthly fee and live my life without any ...


2

Phillipp provided a detailed answer. I agree with his take on this. I believe that it is not possible to determine what charity that will save the most human lives per dollar donated because the charitable effectiveness vis a vis mortality or quality of life is totally subjective. But you can evaluate the efficiency of the charity. I use Guidestar and ...


2

Invest in an index fund. Every few years (bunching donation deductability as per TTT's answer), donate the appreciated investments. You will be able to deduct the entire value at time of donation from your taxes. If they haven't appreciated, you can either wait longer for them to appreciate, or sell them, take up to $3000 the loss off your taxes, and donate ...


2

Get a Donor Advised Fund The first thing you need is a Donor Advised Fund. This will allow you to do several things: Allow you to make complex donations, even to charities that can't accept them because they don't have the workload or skill to process the gift. For instance, in the US there is tax advantage to donating appreciated assets rather than ...


2

I would say that it would be worth you reading up on Effective Altruism (Wikipedia or here) as it feels as though the aims are similar. If you are trying to weigh up the benefit to a charity of a certain donation now, versus the potential of a larger (or smaller) donation in the future, most charities would opt for the certain donation now; although regular ...


2

To add a bit to what Charles Fox has written: Lend the money to yourself for your retirement. In other words put the money into whatever vehicles you would normally use to save for your own retirement. Keep a note of how much of it you would like to have donated, and when the tax laws change in your favour, simply take money you would otherwise have put in ...


2

I can't comment on Australia tax law but I can answer that in the United States a 501(c)(6) corporation isn't a charity. 501(c)(6) organizations are a type of non-profit. That means that they don't have to pay income tax. That doesn't mean that people that donate money or stuff to them can claim the charitable deduction. Charities are 501(c)(3) non-profit ...


2

These are really two different things. You can't "combine" them. You have income from stock cash dividends or bond interests. You need to pay income tax on these and then the money is "free & clear" yours and you can do with it whatever you want. You can donate any of your money to charity. It makes no difference where it comes from. The donation is ...


1

Taking the question more broadly: If you have taxable investments and want to make donations, consider directly donating securities (rather than income or proceeds from them) if you have unrealized capital gains. This allows you to deduct the current market value of the donation (if you itemize) and avoid paying capital gains tax.


1

There are a number of web sites that review charities. One that I have used is call CharityNavigator. It provides a lot of specific information for 1000's of charities, ranks them, and permits you to compare them side by side. It does not meet all of your requirements. The minimum donation is $10 per charity. You can select multiple charities and donate ...


1

In the UK, the company would benefit a tiny bit. For every pound of pre-tax salary, the company has to pay an additional (I think) 13 percent in employer health insurance / pension contributions. So giving up £1 in salary saves the company £1.13; since they donate £1, they save a grand total of 13 pennies. I don't think it's worth it.


1

I would recommend reading this article "How to give like a billionaire" it has some interesting suggestions including how to set up a small charitable foundation which allows you to cash out your equity without the associated capital gains. I'd also recommend avoiding attempting to invest in real estate unless your goal is to use this as a charitable ...


1

The concept of efficiency is very hard to measure in non-profits, as sometimes it's just too costly to measure impact. Sometimes you can't measure accurately the effect operations have on the field, for example because you can't predict what would happen without your action, or because it would be too costly to measure the impact. The key considerations for ...


1

I think the subjectivity of charity oriented to a particular goal (say, saving lives) is hugely overrated. There's a substantial, thorough body of academic research around many interventions in global health development, and there's a lot of serious scientific work that's been done to determine what the consequences of funding particular interventions will ...


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