By Brian Foss
Most of us have a finite numberof dollars to give to charities, andtherefore we ought to be carefulhow we “invest” those funds.Perhaps the best way to considerwhether to make a charitable giftis to ask, “If this group was a com-pany, would I buy stock in it?” When thinking about what
makes a charity worthy of yourinvestment, consider these fivequestions in the same way thatyou ponder buying stock in acompany:
nIs this charity best in its class?Virtually every nonprofit has com-petitors who do the same, or verysimilar, work. Doesn’t it makesense to invest in organizationsthat do the best work? You would-n’t buy stock in a company thatyou thought was not the best of itstype, so why would you investcharitable dollars any differently?
nIs the or ganization meeting itsstated purpose for existence? Ifyou don’t know the answer, dosome homework on the organiza-tion. It is amazing how manycharities fall short of fulfillingtheir mission (you ought to beable to find the mission statementon their Web site).
nIs the charity being governedby people you respect? Do theyappear to be deeply engaged infulfilling the mission? Are theyalso major donors to the organi-zation? If the board membersaren’t major investors, whywould you invest?
nWhat do you know about thestaff leadership? Is this a stableand growing organization led bywomen and men who are manag -ing and leading the charity wiselyand effectively? Would you
invest in a company if you knewnothing about its managementcapacities?
nDoes this charity have a visionfor its future? Do they know whatthey want to be doing in the yearsahead? You don’t buy stock on acompany’s accomplishments 10years ago, you buy stock basedon a sense that the company has afuture. Charities are no different. There are countless charities in
South Florida that are worthy ofsuch investments, but permit meto use three as illustrations of theabove criteria so that you have afuller understanding of theseprinciples.Seraphic Fire (seraphicfire.org)
is one of Miami’s greatest cultur-al treasures. Why? They are con-sistently best in class in the qual -ity of their music, have created a
unique niche and use the finestmusicians. They have a fullyengaged board of directors whogive generouslyof their timeand money. Theartistic director,Patrick Quigley,is a brilliantmusician, vision-ary and commu-nicator, and has built the organi-zation carefully and soundly. The Miami Lighthouse for the
Blind (miamilighthouse.org),under the leadership of VirginiaJacko, continues to transformitself into an effective organiza-tion that pr ovides cutting-edgeservices to the visually impairedand blind. They know whatneeds to be done, and with effec-tive board and staff leadership,no one fulfills theirmission bet-ter. Anyone who meets VirginiaJacko knows they are making asolid investment. The Broward Partnership for the
Homeless (bphi.org) is a remark-able organization that compre-hensively meets the needs of thehomeless. Their philosophy ofaddressing “the whole person”through housing, food, job train -ing, child care, medical, dental,clothing, etc., has created animpressive success rate of bring-ing homeless families back toindependence. The board andstaff are making all the rightmoves in being effective and bestin class. By visiting the Web sites noted,
you can check these organizations– or any worthy charity – for your-self to learn more about their mis-sion, board, staf f, programs andplans for the future. Is it fair to hold charities to such
high standards? Absolutely.Although charities are not forprofit businesses, they ought to be
run efficiently andeffectively. Almostall charities areentrusted with tax-payer funds, enjoytax-exempt statusand receive tax-deductible gifts.
More important than tax issues,charities exist for the public goodand millions of us are counting onthem to fulfill their societal pur-poses. That’s an even heavier bur-den than a for-profit corporation.Invest wisely, and gener-ously.
Miami Lighthouse for the Blindis Florida’s largest and oldestagency serving the blind andvisually impaired, monthly serv-ing more than 1,100 par ticipantsand annually providing free opto-metric exams and eyeglasses to5,000 school children who failstate-mandated vision screen-ings. For more informationplease visit: http://www.miamilighthouse.org
Would you buy stock in your charities?WEEK OF THURSDAY, JULY 31, 2008 SERVING SOUTH FLORIDA’S MOST IMPORTANT AUDIENCE
Virginia A. JackoPresident and CEOMiami Lighthouse for theBlind and Visually Impaired601 SW 8th AvenueMiami [email protected]
OUR MISSION:
The WriterBrian Foss ([email protected])lives in Miami and is a manage-ment consultant to nonprofitCEOs and boards.
www.miamilighthouse.org
To provide vision rehabili-tation and eye health services that promote independence,
to educate professionals, and to conduct research
in related fields.
