Wise Giving During The Holidays

Danny asks how to choose who to give money to during the holiday season. Dave says the more money you're going to give, the more careful you should be.

QUESTION: Danny on Twitter asks how to choose who to give money to during the holiday season. Dave says the more money you're going to give, the more careful you should be.

ANSWER: The more money you're going to give, the more careful you should be. If you're giving away $2, I don't think you need to spend 8,000 hours of due diligence on the charity you're giving $2 to. If you're giving $2,000, I'm going to spend some time on that one. I want to see full disclosure. I want to look at the expense ratio, how much of the money goes to administrative costs. You don't want the administrative costs to eat up 90% of the donated dollar and 10% goes to the actual hungry child or whatever the ministry does. You've got to be wise and reasonable about this.

The bigger the gift, the more time you spend investigating. When we're giving a major gift, I'm not opposed to doing a site visit and taking a tour. You can feel in the air what's going on.

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