Understanding Charitable Giving

Essential Question: “Why should I incorporate charitable giving into my financial plan?”

Investigate: Compassionate Giving

[Time Required: 10 minutes] 

1. What does the following quote from Ghandi means to you: “Be the change you want to see in the world?”
2. Why would Ghandi have made such a statement. Why is it important to “be the change” in the world? What can you do to be the change? What resources do you need to take into consideration when implementing change (e.g., time, money, expertise)?
3. Have you ever volunteered or donated to charity? What charitable contributions have you made recently? Why do you think it is important to give to charity? What do you gain by giving? Why is it important to think about giving to others when making financial plans? How is sharing money connected to spending and saving? 

Student Preparation: Charitable Interests

[Time Required: 25 minutes]

1. What types of charities do you already support or would be interested in supporting (e.g., if you enjoy reading, then a literacy nonprofit could work for you; or if you love sports you might donate to the Special Olympics)?
2. Download the student activity sheet Charity Checklist. You will now have the opportunity to research a charity that matches your interests.
3. Allow 10 minutes to complete part one of Charity Checklist. What organizations, charities, and nonprofits did you discover in your research? Why are you interested in these charities and what might you do to contribute? 

Evaluating Credibility

[Time Required: 25 minutes] 

1. While there are many excellent charities in the world, it is important to conduct research before giving time or money to a charity. In an age when anyone can post anything online, it’s important to verify authenticity and credibility.
2. Refer to part two of Charity Checklist and consider each of the factors to consider when evaluating a charity. Can you think of any other criteria to consider?
3. Pick one charity from your list from part one to research further and evaluate based on the factors. Allow 15 minutes to complete the activity.
4. Why is it important to research a charity before “blindly” donating money? Why should you look at a charity’s website and contact information? Why should you review the work the charity has done in the past? Transparency is important in a charity so you know how your time or money will be spent.
5. What do you gain from being charitable? Why do people set aside money for charity instead of spending or saving it? Why is it important to work charity into our financial lives?
6. How can you plan for charitable giving in your budgets. For example, how can you be sure to set aside enough money? You can allocate a certain percentage of your money each month, donate a certain amount during the holidays, or create long-term giving by including donations in an estate plan or will. We can also plan for charitable giving by allocating resources such as gently used clothing, or donating time on a weekly, monthly or yearly basis. 

Reflection

[Time Required: 5 minutes] 

Reflect in your notebook on why it is important to consider charitable giving. What are the benefits of being charitable and how can you integrate it into your financial plans?