People across the globe are coming up with creative ways to donate to Ukraine. Airbnb users reportedly booked 61,000 stays with Ukrainian hosts on March 2 and 3 of this year alone. Various GoFundMe campaigns have raised $20 million in aid for Ukraine in the past few months. And more than $10 million in cryptocurrency donations reportedly has poured in for critical supplies including gas, food, and equipment.

The impulse to give during times of crisis is natural. And even during the best of times, Americans like to give, donating a record $471 billion to charity in 2020. In fact, sensible giving can be worked into your budget. And charitable donations may also be tax-deductible, according to the Internal Revenue Service (IRS).

Avoid Scams

But you want to give wisely. Some organizations have noted a rise in scams trying to take advantage of Ukraine donations, for example through fake charities and phishing, among others. Phishing is a way to extract personal information from people, typically by sending emails that appear to come from reputable sources, for fraudulent purposes.

Fraud is a big issue, with consumers losing nearly $6 billion to scams in 2021, according to the Federal Trade Commission (FTC), a government agency for consumer protection.

Here are some ideas for giving wisely:

1. Do your research. Browse the website of your preferred charity for more information before handing over any money. Every reputable charity will also have a rating on a charity evaluation website, such as CharityNavigator, CharityWatch, and Global Giving. You can also check out the Internal Revenue Service’s Tax Exempt Organization search tool. Your donations to charities are tax exempt, and the tool lets you search on an organization’s eligibility to receive these donations. 
2. Use credit cards or checks for donations, not wire transfers or gift cards, the FTC says. Scammers will often ask for a wire transfer or gift cards because they are hard to track. Credit cards may be your best option, as they provide a paper trail and extra protection, since they allow you to dispute charges, according to Fortune magazine. Legitimate charities will also give you more than one method for giving, other experts say. 
3. Be suspicious of requests to donate on social media, even from friends’ accounts, the FTC recommends. If a link leads to an individual’s fundraising campaign, carefully consider whether that person can distribute the money effectively.
4. Review your credit card and bank statements after you’ve donated to make sure the proper amount was deducted. 
5. Give directly via the website of the charity you choose, other experts say. And if you plan to give through a crowdfunding site, consider platforms that scrutinize campaigns before they launch. GoFundMe says it vets all campaigns involved in fundraising for Ukraine, for example

In the meantime, Charity Navigator has compiled a list of charities helping Ukraine during the crisis. The list includes International Medical Corps, Save the Children, and Unicef. You can find the full list here. 

The post How to Donate Money to Ukraine appeared first on Stash Learn.

For the vast majority of us, such a full-life makeover is totally unrealistic. We may find ways to meditate and exercise for free, and we may manage to incorporate some better foods into our diet without breaking the bank. But it’s hard to drum up the cold, hard cash to give to a great cause when you’re working hard to pay down debt and keep the lights on.

Don’t worry, though—there are plenty of ways to give back to your community without spending money! I asked around and did some research on Twitter, and plenty of folks stepped up to share their own stories. 

And giving your time doesn’t have to be confined to January and February, you can do it all year long. 

1. Share a good cause on social media

Sounds easy? It is, but the help you give through such a simple action may be immense! Writer Melissa Duclos lives in the Pacific Northwest, where she works for a nonprofit organization. She says, “Sharing our e-newsletter or social media posts is a big contribution, especially if shares are personal, explaining to specific people in your network why they should subscribe [or] follow us.”

I’ve been an online advocate for Miry’s List for a few years now. Founded by a mom in Southern California, Miry’s List helps refugees from the U.S. government resettlement program furnish their homes, feed and clothe their children, register for school, learn to drive, improve their English language skills, find employment, and much more. Using Twitter and Instagram, I’ve been able to help raise a little money here and there for the organization. It feels good to help provide a special kind of welcome wagon for my new neighbors. And this year, I even got to be on the host committee for the annual gala!

Potential cost: Nothing
Reward: Feel good knowing you gave some free PR for a fine cause 

2. Foster an animal

Sam Cherington, a Los Angeles-based TV writer for such shows as “Where’s Waldo?” and “Boss Baby,” suggests fostering dogs. He does it through MaeDay Rescue in Los Angeles. He says it “gets them out of the shelter and into safe homes until they get permanently adopted.” 

Reputable animal rescue organizations require a potential foster parent to submit to an interview, a background check, and a home visit before being admitted to the program. You can expect the organization to pay for vaccinations, spaying or neutering, and any other necessary medical procedures for the animal. Some organizations will also cover the cost of food, toys, and bedding. You may foster the animal anywhere from a few days to much longer, depending on the agreement with the organization. To learn more, contact the Humane Society of the United States for suggestions on how to help, or find a good, ethical animal rescue organization near you.

Potential cost: Food, toys, and bedding; replacing anything an anxious dog might chew.
Reward: Free snuggles; the joy of knowing you helped give a needy animal a new chance at life.

3. Give blood

I’m a blood donor, though I don’t give nearly as often as I could. According to the American Red Cross, just one blood donation may help save more than one life. When you donate through the American Red Cross, you can count on spending about an hour at the mobile blood drive or donation site. You’ll get a mini-physical during which a technician will test your iron levels and take your heart rate. They’ll also interview you about your health history in order to determine whether it’s safe for you to donate.

After giving blood, you’ll get a snack and something to drink. Once you’re done, you’ll be on your way. Later, you may find out where your blood donation went (though not who received it, as that information is protected by privacy law.) And if you don’t know your blood type, you’ll find out! Book your appointment today via their website or their app.

Potential cost: Transportation to and from donation center.
Reward: The good feeling that comes with knowing you may have helped save lives, plus a snack. 

4. Provide free space

LeAnna Hallman, a new board member at the Cornerstone Theater Company in Los Angeles, suggests donating the use of a physical space in order to help groups that can’t afford a permanent home. Think of whether you have access to a meeting room, conference center, big lounge or storefront. Hallman adds that for her own theater company, “locations that are closed on the weekend are perfect.” To learn more, ask around to see if any local organizations are looking for meeting space—perhaps a local Girl Scouts troop, theater company, or advocacy group.

Potential cost: Any wear and tear on the space.
Reward: The satisfaction of knowing you’ve helped a good group find safe space to do its work.

5. Stock shelves at the food bank

Ian Rose, a writer in Oregon, helps pack and prepare food at his local food bank. He says, “All it costs me is a few hours of my time.” If you aren’t able to lift and reach with ease, many food banks can use administrative assistance, or greeters who can tell volunteers and clients where to go.

It should be easy to find a local food bank near you—just use Google! You may also wish to go through your faith community, or ask around at your workplace. Some companies will give you paid time off to volunteer once per month, fiscal quarter or per year, and it won’t detract from your bank of personal time off. 

Potential cost: Transportation to and from the site.
Reward: Knowing that you’re helping feed hungry people in your area.

6. Help folks get back on their feet

There are many ways to do this. My friend Kambri Crews, an author and bookstore owner in Queens, N.Y., works with a nonprofit that helps formerly incarcerated adults get back into the job pool. “My duties range from greeting new clients and giving them info to conducting mock interviews,” she says. Kambri is herself the daughter of an incarcerated parent, and for over four years she served as a mentor to a young girl whose mother was in prison.

Kambri’s example is a great one because she uses her own life experience as inspiration to help others. Think about ways in which you or your loved ones have struggled in the past. Is there a way for you to help those in similar circumstances? If you’ve known what it is to feel isolated or to live with food insecurity, you may want to volunteer with Meals on Wheels. You can help seniors obtain good nutrition and some much-needed human interaction. 

If you remember your own caretakers being absent, or perhaps just too busy to provide some of the attention you needed, you may find service with Big Brothers Big Sisters of America to be particularly meaningful. My mom was a librarian for many years, so I’ve been thinking of becoming a library volunteer here in Los Angeles. Get creative! Plenty of places will be glad to welcome you.

To find what you’re looking for, check out Charity Navigator. You’ll see a search bar near the top of the page that allows you to look for relevant charities in your area. You can also check out their rating to ensure you’ll be giving your time to a place with a reputation for good financial and ethical practices.  

Potential cost: Varies.
Reward: You’ll find greater meaning in your service because it connects to part of your own life.

There are many other ways to help, but this should be a good start. Have a wonderful year, and may we all be kinder to ourselves and to our neighbors. It may not give us six-pack abs or total inner peace, but it’ll surely warm some hearts (including our own.)  

The post How to Save the World on a Budget appeared first on Stash Learn.

Charities support important causes, and giving to one—either for yourself or for someone else—can make a big difference in another person’s life, whether it’s assistance recovering from a natural disaster, helping to feed the hungry, or providing education to someone in underprivileged circumstances.

Here’s everything you need to know about giving to a good cause:

What’s a charity?

There are more than a million public charities in the U.S.

Charities are non-profit organizations that have tax-exempt status. That means they don’t operate to  make a profit, and they typically don’t pay state or federal taxes. They also must have an active fundraising program, and are involved in some purpose furthering the public interest or the common good.

Generally speaking, there are public charities and private foundations. The key difference is that the general public supports and funds public charities, whereas one person or a family, or some other group of people, controls and funds a private foundation.

When most people think about charities, they are thinking of public charities.  But private foundations can also be involved in giving (The Bill & Melinda Gates Foundation is one example).

Examples, according to the Internal Revenue Service (IRS), can also include places of worship, medical research organizations, colleges and universities, some fraternal societies and even non-profit cemeteries (yes, that’s a thing).

Donations could save you money

Let’s talk a little more about taxes.

If you give to a qualified charity, the value of your donation might be tax-deductible. That means what you give can reduce your total income tax.

You might have to itemize your expenses, however, to qualify for charitable deductions.

Depending on the charity, you can give cash as well as non-cash items such as household goods, clothing, even used cars.

Always check and make sure that your gifts are tax-deductible. Many times they aren’t.

Tips for giving to non-profit organizations and charities

Give to qualified charities. These are charities that have been granted tax-deductible status by the IRS, which means you can also get a deduction for your giving.

Special note: The IRS sets charitable donation deduction limits based on adjusted gross income. This information should not be construed as tax advice. It’s always best to consult a tax expert for anything related to your taxes, such as charitable giving.

Keep proper documentation of your donations. For cash gifts, that means a canceled check, credit card statement, or a bank statement.

Get a receipt. If you’re giving non-cash items, you’ll need a receipt from the charity you’ve given to, listing the value of the goods you’ve donated. (If they are used items, you’ll need to list the fair market value, which is what you might get if you try to sell them.) If those goods are worth more than $500, you’ll also need to fill out separate IRS form called the 8283, which itemizes what you’ve donated.

Don’t give blindly on social media.  Be wary of GoFundMe or other crowdfunding campaigns. It’s easy to get caught up in the heat of the moment, particularly when there is so much going on in the world around us, and scammers love to prey on these emotions.

Check out the Federal Trade Commission (FTC) for more information on charity scams.

Crowdfunding donations are also typically considered personal gifts by the IRS, and are not tax-deductible, unless the money is going to a qualified charity.

Numerous sites rate qualified charities.

Make sure you’re choosing a charity where the majority of your donation will reach the intended recipients, and won’t be eaten up by the administrative costs of the organization, or other expenses, which can sometimes happen.

Charity Navigator ranks more than 9,000 qualified charities for financial transparency, and compiles lists of the top ten in different categories, such as the ones that are most popular, or the ones with the most expenses.

Charity Watch and Guidestar are two others that provide charity rankings. Another is GiveWell, which focuses less on financial data, and more on the results the charities have for their particular causes.

So whether it’s the famine in Yemen, malaria in Africa, or supporting good causes in your neighborhood, there’s a charity for you.

The post Non-Profit Organizations and Charities: What You Need to Know appeared first on Stash Learn.

Americans are great givers, donating over $373 billion in 2015. In 2014, Americans making $25,000 to $50,000 wrote off $2,545  as charitable deductions on average.

Between never-ending GoFundMe campaigns and our bursting email boxes, it’s easy to be overwhelmed with a desire to help. It can be hard to know which causes to support and how much to give.

The following tips will help you keep your gifts in line with your budget, ensuring your own financial welfare while you help those in need.

Select your charity wisely

If you’re a sensitive person, you probably find that each new appeal pulls at your heart strings, making you feel morally bound to respond. But if you give money to all of them, you’ll soon have nothing left for yourself.

Pick your favourite cause, or the one that concerns you most, and bypass the rest. If you love animals, for instance, you might choose a charity for pet care or endangered wildlife. It’s tough to narrow it down, but you’ll be a more effective giver if you focus on one single cause at a time.

Don’t feel pressured to join the latest trendy cause. Never mind what your friends on social media are supporting, choose the cause that resonates most with you, not the one that’s gone viral.

Decide how much and how often

Do some rough calculations to work out how much money you can afford to give away. There’s no law about how much a person should donate, it’s all about your comfort level and your budget.

Look at your charitable donations in the context of your entire budget. See how much you can afford to part with so that you’re not giving up funds needed to pay for your necessities like rent, food, and bills.

It’s up to you to decide how often to make your donations – whether annually, monthly or just this once. An overall plan will help you keep track of your gifts and limit them as needed.

Remember, you’re doing good just by donating. Charitable giving isn’t a contest about who can give the most.

Check out your chosen organization

Before parting with your money, check out the organization to which you’re planning to give. Check out their mission statements and make sure that it truly aligns with your values and vision.  

Charities use their donations in different ways, too. Some may invest them in staff salaries or equipment or gala balls while others give directly to the cause.

Browse the website of your preferred fund for more information before handing over any money. Every reputable charity will have a rating on a charity evaluation website, such as CharityNavigator.

Donate time instead of money

Don’t have money to spare? Donating your time is just as valuable as donating money. Charities rely on volunteers to accomplish many of their goals. By offering up your precious hours, you can helping your cause achieve its goals just as effectively as writing a check.

The value of a volunteer hour was estimated to be $24.14 in 2016, according to Independent Sector, an association that monitors the nonprofit sector.

Last year, more than 63 million Americans volunteered about 8 billion hours. That’s roughly $193 billion in donated hours.

Draw a line

You can’t save the world on your own, but you can certainly do your part to make it a better, happier place. When you’ve done your budget and given what you can comfortably spare, stop and be proud of your contribution.

By keeping your gifts in line with your income and overall spending budget, you’ll be able to put enough money by for your own needs and pleasures, and that’s just as important. After all, society thrives on strong, happy people like you.

The post How Much Should You Give to Charity? Donating On a Budget appeared first on Stash Learn.

Bloom, who died in 2016 and whose estate was settled last week, worked for 65 years at the same Wall Street law firm and purchased small shares of stock that mirrored larger purchases made by her bosses.

Over time, that money turned into a $9 million fortune. (She reportedly left the remaining money to her alma mater Hunter College, and to her family.)

How can a secretary amass $9 million?

Regular lives, big fortunes

Bloom’s story is astonishing, but secret millionaires who become philanthropists upon their deaths are more common than you think. What they all have in common is a commitment to regular saving, modest lifestyles, and investing in the market.

Other examples include Grace Groner, who reportedly bought 3 shares of Abbott Laboratories stock in 1935, for a total of $160. She held onto those shares as she worked at the company, reinvested the dividends, and upon her death in 2010 had amassed a staggering $7 million, according to reports. While it may be a difficult to duplicate gains like that today, Groner nevertheless left the money to her alma mater, Lake Forest College, in Lake Forest, Illinois.

Similarly, Eugenia Dodson, a farmer’s daughter who grew up in rural Minnesota and worked in a beauty shop in Miami, Florida before marrying, amassed a fortune of $35.6 million by the time she died at 100, in 2005. She did that by investing proceeds from a land sale in blue chip stocks, according to reports. Dodson left her fortune to the University of Miami, for cancer and diabetes research.

Frugality and lessons of the Great Depression

All three experienced hardship and the Great Depression and were frugal their entire lives. Groner, for example, lived in a tiny one-bedroom house that had been willed to her, and that could hardly contain her small amount of furniture. Bloom worked until she was in her 90s, and took mass transit to work.

Of course, all three women had something else in common: they lived to ripe old ages, had long and stable work careers, and benefited from some of the biggest boom years the stock market has ever known.

A stock index called the S&P 500 had an average annual return of more than 9% for much of the time Bloom and the other women invested. That time period includes the post-World War II boom years of the 1950s and the dotcom years of the 1990s when the stock market had spectacular gains. But it also encompasses the financial crisis that began in 2008 when equities lost more than half of their value.

Going forward, the average annual return on stocks is likely to be closer to 6%. Nevertheless, you may still put away a sizable sum and fund your own charity at the end of your life.

The power of compounding

It’s not magic, really. In fact, there are about 5 million people in the U.S. with a net worth of $1 million or more. Most investors can grow wealth through a process called compounding. It’s basically when your money, and the interest it earns, earns interest on top of the interest.

Here’s an example of what compounding looks like, if you put aside $50 a week, or $200 a month for the next 30 years, earning 5% annually. You’d have $159,669. With interest and compounding, that’s more than double the $72,050 of principal you put away.

Be your own philanthropist

If you want to get to Bloom or Groner’s level of wealth, you’d have to put away more than $50 a week–and definitely invest it. But you might still amass a significant amount of money by saving and investing what you can and letting compounding do the rest.

Then you can leave your cash to a cause you find worthwhile, whether that’s education, animal welfare, or medical research.

The sky’s the limit. Start putting your money to work now.

The post Secret Millionaires Are Everywhere—Could You Become One? appeared first on Stash Learn.

Do you want your investments to support companies with an eye on the greater good as well as their bottom lines? You might want to consider them in your investment portfolio.

Buzzwords: ESG, SRI, and screens

Investing strategies and investments that consider factors like sustainability, workplace equality, and political impact are often called ESG (environmental, social, and governance) or SRI (sustainable, responsible, and impact).

Both of these categories focus on similar factors. The main distinction is that ESG investing is often based on inclusionary screens, while SRI investing is based on exclusionary screens.

Survey: 71% of all investors surveyed were interested in some form of sustainable investing

Screens are how an investment is included or excluded from a portfolio or fund. If a company is creating an index, they can chose to include and exclude certain investments based on a number of factors.

If an investment or index wants to focus on sustainability? That’s an inclusionary screen. If it wants to avoid companies that have a bad track record with workplace equality? That’s an exclusionary screen.

Some factors that are considered in order for something to qualify as an ESG investment:

Environmental: Resource utilization, sustainability office, environmental impact
Social: Corporate philanthropy, working conditions, progressive and inclusive HR policies
Governance: Reporting and disclosure, product recalls, balance of powers

Who is ESG investing for?

In 2015, Forbes partnered with the news site Elite Daily to conduct a Millennial Consumer Study. The data revealed that 75% of Millennials think that “it’s either fairly or very important that a company gives back to society instead of just making a profit.”

A 2015 TIAA Survey found that 90% of Millennials agreed that “I’d like my investments to deliver competitive returns while promoting positive social and environmental outcomes.”

The survey also indicated that 76% of Millennials care more about having a positive impact on society than doing well financially. (Only 42% of non-Millennials felt similarly.)

A recent Morgan Stanley survey found that 84% of millennial investors are interested in sustainable investing. It also stated that, “female investors are more likely to factor sustainability into their investment decisions and are more likely to see the advantages of doing so.”

But it’s not only Millennials that seem to prioritize these factors.

While the aforementioned survey made it clear that almost all Millennials are down with ESG, it also found that 71% of all investors surveyed were interested in some form of sustainable investing.

Interestingly, Europe is leading the charge when it comes to ESG investing. In 2014, “58.8% of European invested assets already are invested in a sustainable way, compared to 31.3% in Canada and 17.9% in the United States*.”

Do I have to sacrifice returns?

While every fund is different and has risks that must be weighed on a case-by-case basis, many leaders in the investment field are optimistic about ESG investing.

“Over time, high ESG scores tend to result in positive effects on investment performance,” Sharon French, head of Beta Solutions of OppenheimerFunds, wrote on the company’s blog last month  “It’s not only about changing the world, it’s about understanding how the world is changing.”

Morningstar, a provider of independent investment research, dedicated their entire December/January issue to sustainable investing: “Sustainable Investing Takes Off.”

“I believe that investing itself is a socially conscious act. It means deferring gratification today for greater security and opportunity for yourself and your loved ones tomorrow,” says Don Phillips, managing director for Morningstar.

ESG investing on Stash

Excited about investments that focus on sustainability and social responsibility? There are options available to you on Stash. Explore more here. 

The post Do You Know About ESG Investments? Investing as Social Activism appeared first on Stash Learn.