12/31/2009 3:00 am
Sheconomics
Think You Can't Afford to Give? Send in the Clowns! by Stacey Tisdale
Editor’s note: Stacey Tisdale is the author of The True Cost of Happiness: The Real Story Behind Managing Your Money. A financial expert, Tisdale appears on NBC’s "Today Show," and has appeared on "The Oprah Winfrey Show" and more. Tisdale has filed business and consumer reports for all of the CNN networks. She was a business correspondent for "CBS MarketWatch," "The Early Show," "CBS Evening News" and "CBS Radio." For seven years, she produced, reported and hosted programs for Wall Street Journal Television, now CNBC. Tisdale is an adviser for John Hope Bryant’s financial literacy organization, Operation Hope. Visit her website at truecostofhappiness.com.
Recently, my family and I entered the big tent at the Big Apple Circus at Lincoln Center in New York City looking forward to a day of fun and adventure. You could feel anticipation in the air as children young and old awaited death-defying acrobats, high-stepping horses and of course Bello, Time Magazine’s pick for "America’s best clown."
"I didn’t know our tickets were doing all of that!" I overheard the woman sitting behind me say softly to her husband. Kevin Venardos, the show’s ringmaster, just explained that the Big Apple Circus was a nonprofit helping children and families in many ways.
I recently had the opportunity to witness the organization’s signature "Clown Cares" program in action at Morgan Stanley Children’s Hospital of Columbia Presbyterian Medical Center in New York City. I accompanied two clowns as they helped children remember that they knew how to find joy and be "kids" no matter what the circumstance. I only wished the people sitting behind me could have seen the look on the parents’ faces when the clowns made their little ones laugh. Some clowns are also trained to help doctors make uncomfortable procedures like shots and anesthesia a little "lighter."
In a year where so many people feel like they have little if anything to give – charitable giving in 2009 fell by the highest percent in 50 years, according to the Giving USA Foundation – the family sitting behind me, and all of the people under the big top, found a way to literally hold the hands of sick children around the country without going deeper into their budget.
New Models for Giving
As a financial journalist it’s been easy to witness a widely held perception that charitable giving is often thought of as a luxury item – something we can do when the good times are rolling – but the first thing that’s cut when times are tough. That’s not to say that our hearts aren’t in the right place. Just talk to people about their feelings about helping people in need. The generosity of the human heart comes through loud and clear.
Even though the economy is expected to improve in the new year, most of us will still feel financial fallout. Here are some tips that can help you make a difference in 2010 without putting pressure on your bottom line.
- While the family on whom I eavesdropped at the circus were pleasantly surprised to find that they helped people in the normal course of being entertained, you can enjoy a show, concert, sports game, etc., and do good while having fun. Check out ticketsforcharity.com to find venues in your area.
- No matter which side of President Obama’s approval ratings you find yourself on, kudos to his administration for making volunteering "hip." If you’re not sure where to start, Volunteer Match may be able to help. They connect people interested in volunteering with opportunities all over the country.
- Buying goods from organizations that donate a percentage of their profits to charities you support is a great way to make the most of your money. The American Heart Association has "Shop Go Red." You can buy things that raise money to fight breast cancer (click here), hunger (click here) and to promote literacy (click here).
- Always check out the charity that you are going to give to. Charity Navigator rates charitable organizations by organization, efficiency and organizational capacity. Also, go to irs.gov to find out about tax deductions.
Many of us will likely continue to feel the recession in 2010, making it more important than ever to get the maximum bang for our bucks and help others during your normal course of business and budgeting.
- Stacey Tisdale's blog
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From year in philanthropic consulting, I couldn’t have said it better myself, with one exception. Please focus your giving, and arrange to consistently provide contributions, no matter how small, on a regular basis (monthly, bi-monthly, etc) so the NGO can rely on funding for their operations (annual fund), those funds come from your income flow, so decide what the amount will be in advance and formalize a pledge. If you want to help them put icing on the cake, so to speak (those extra things than help them function at a more comfortable level), those fund come from your savings, resulting in a Major Gift at some point in time.
Planned Giving, or "Estate Gifts," come from a higher level, and are formally arranged with an NGO to be transferred in your memory; however, there are instruments an attorney, CLU, and philanthropic advisor can arrange prior to death if they are non-revocable, and such that will be enjoyed by the donor at the time.
In our economy, nothing helps quite as much as annual giving, on a regular basis.
"Give to Live" is an excellent book by a colleage (Douglas Lawson) on how philanthropic living benefits people who share - in short, they simply live longer!
LOVE THIS ARTICLE Stacey!
Chock full of wonderful advice. Among many things, I am the CFO of a corporation that is the umbrella for a number of small businesses. And one of those business ventures is a girls group home (of which I am a mentor and Office Manager).
It is so frustrating to see so many people who think that they can’t give because the small amounts they can afford to give, they think won’t matter. Won’t be of any benefit. When indeed they would. Taking that $5 and adding to another’s, and another’s….adds up! Non-profits truly are the ones hardest hit in tough economic times. However your advice is all sound and will educate the public about how best to give and provides resources to help those who want to give, do so in an informed manner.
Also, local animal shelters are thrilled when people drop off a bag of cat/dog food, old towels, bowls, leashes, toys, brushes, shampoo, crates, kitty litter, scratching posts, or even supplies for the building, like hand sanitizer or cleaning supplies. If you have some time on your hands, shelters need people to play with and walk dogs, as well as stuff envelopes and put up flyers.
A round of applause for performers like Mariah Carey, U2, Foo Fighters, and Mary J. Blige who sang at Shelter from the Storm, a benefit concert that helped displaced animals after Hurricane Katrina. In this slow economic recovery, many pets are being brought to shelters because families can no longer care for them.
Great article. Thank you, Stacey!