James Altucher being provocative as usual…
I’m not endorsing this conclusion but he makes some useful points:
I’m not saying don’t give. I’m not saying don’t be spiritual or don’t be good. But do it with thoughtfulness, with true spirit, with a true desire to help. More harm than good is done when you blindly throw money at most charities.
3) I don’t like paying administrative overhead. For every $1 someone donates to the American Cancer Society, 9.8 cents goes to administrative costs.
4) I don’t like paying marketing costs. I didn’t realize this until I looked it up. But for every dollar I give to the American Cancer Society, 21.8 cents goes toward furthering their marketing efforts.
His primary recommendation:
1) Be a Microcharity… Specifically, pick up the local paper and see who needs help right now, where a small amount of money can immediately make a significant difference in someone’s life.
In other words, be directly, personally involved with your cause. Then you know how the dollars are being used, you know face to face who is being helped, you feel good, you solve an immediate problem, you save a life.