Ari Monkarsh, a business expert, shares his thoughts, opinions and guidance on how to develop yourself as a professional, and your business.
Monday, January 8, 2018
3 Tips for Starting Your Own Charity
For those looking to give back to the community and the world at large, there are several options. You can volunteer your time to a cause you care about or you can donate money to an organization you respect. However, another option is starting your own charity. If you don’t feel that there’s an organization out there that fits your mission, you can start your own philanthropy. A charity can be an excellent way to give to those in need and can positively impact all who are involved with it. While starting a charity may seem a bit daunting at times, it can most certainly be done successfully. That being said, it may be difficult to know where to start with such a venture. Below are some tips to consider when starting a charity.
Before attempting to start your own charity, do adequate research. This tip comes from Joanne Fritz’s article in The Balance. This step is vitally important, as poor planning and preparation can dissolve a charity rather quickly. If you want to lead a successful charity, you need to know what you’re doing. Make sure to research any laws and regulations regarding charities. Research the marketplace of charities as well, such as which ones are successful, and for what reasons. This can help organize a charity that is just starting. Also, make sure you aren’t starting a charity that’s too similar to another or will be overshadowed by an organization that already exists.
Figure out what the charity is all about
Steve Odland’s article in Forbes, highlights the importance of understanding what exactly you want your philanthropy to accomplish. Odland suggests creating both a vision and mission statement. According to the article, a vision statement includes the broad, general goals of an organization and should be qualitative in its descriptions, not quantitative. The mission statement includes more of the quantitative measurements and descriptions such as who and what the charity helps. Mission statements should also include goals for the charity to reach, according to Odland.
Bring out the uniqueness of the charity
This is an important tip that Odland mentions in his article as well. There are many non-profit organizations out there vying for the attention of donors. This competition can make it difficult for a new charity to gather the funds to operate. Having a unique idea and way to contribute to society can help bring attention to the charity. This feature can then help bring in donations that further the charity’s cause.
In the end, there are many ways to give back to the community, both globally and locally. A great way to achieve this goal and make lasting change is through creating a charity. Though starting a charity from the ground up can be challenging at times, it can also be immensely rewarding. Hopefully the tips above help anyone thinking about starting their own charity.