A Penny Saved is a Penny Earned

A Penny Saved is a Penny Earned -
Benjamin Franklin

Wednesday, December 19, 2018

Fraudulent Charities

This time of year there is a significant increase in charities asking for donations. But don't be fooled by their enticement, not all charities are legitimate some are charity scams (especially after a natural disaster). Even with a famous celebrity for a spokesperson doesn't necessarily mean they are a registered not for profit company.

Make sure you do your research first (I usually only give to local charities where I know the work they are doing)

  1. Check first to see if they are a legitimate charity 
  2. Look at their financial statements (beware if they don't disclose these)
  3. How much is going to administrative costs (some use as much as 90% of your donation toward "administrative" costs.
  4. Look closely at the name. Sometimes fraudulent sites use a name close to a legitimate one or imitate a well known charity with a similar logo.
  5. Also be aware of Go Fund Me pages. These are ripe with scams. Only donate to those you know to be legitimate.

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