Identifying and Evaluating Effective Nonprofits

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Slide, Guide to giving, identifying and evaluating effective nonprofits. Text: Jamie Hackleman, US team lead, the philanthropy center, JP Morgan private bank. Michael Thatcher, president and CEO, charity navigator. Two profile images of the speakers.

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Hi. I'm Jamie Hackleman, the US team lead of The Philanthropy Center, one of our key advice teams here at the private bank. Through

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Text: Jamie Hackleman, US team lead, the philanthropy center, JP Morgan private bank. She has long blonde hair and is wearing a white blazer over a dark blue top. She sits at a table with Michael Thatcher. In the background there are vertical strips of grey soundproof material. There is the phrase JP Morgan in a calligraphy style on the wall behind the two speakers.

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the philanthropy center, we provide personalized guidance to help our clients advance their giving plans and strategies. Today, I'm joined here by Michael Thatcher, President and CEO of Charity Navigator.

And we want to use this opportunity to talk about ways that donors can effectively find and evaluate nonprofit organizations. In both of our roles, we are often talking to donors around the things that are working or not working when it comes to giving money to charity. And what we frequently hear is that it can be daunting to find opportunities that align with the donor's mission and interests, and how to sift through hundreds of thousands of organizations in a given issue area.

So we want to use today's conversation to talk about the practices and strategies for effectively finding and funding these nonprofit organizations. So to start with finding organizations, Michael, there are more than 1.5 million charities in the US. How do donors go about just getting started in thinking about narrowing their interests to find organizations to give to?

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Text: Michael Thatcher, president and CEO, charity navigator. Michael is wearing a dark blazer over a light blue shirt. He has short blonde hair.

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Thank you, Jamie. I think a donor said this to me once. And it's always resonated and is causes grab you by the heart and you have to go do something about it. And so I think giving is emotional. Start with your heart. What do you care about? What's really important to you? What do you want to change? What do you want to preserve?

And then from that, you're going to have a cause area, your area of focus. That's your starting point. So you've already eliminated about 90% of the nonprofit sector at that point, right? So from there, you've got to go the 10%, which is still huge. And then I would start getting really specific. So from a cause, then it's, what about that cause? Where can I get specific?

And then I would use third-party intermediaries. I would use the internet. Charity Navigator's set up to help you get super refined in how you do your selection. And I would take it from there.

Where do you think about going to source organizations?

So again, you can use the internet and just a simple search. What we try and do at Charity Navigator is help reduce that complexity. So you can search by category. We set up lists where we'll put together a curated list of highly rated-- and I'll talk about our ratings eventually. But we're trying to help you find not just what you're looking for, but an organization that's actually having an impact. And I think that's something to really keep top of mind.

It's not just about giving money. It's about creating social change. So you're investing, you're investing in a future that is better than the one that we have right now.

Absolutely. And what about giving in times of crisis? I think we're talking about really proactive giving here. You're learning about these areas. You're finding organizations. But we also know that donors are incredibly responsive to natural disasters, humanitarian crises, conflict, et cetera. And it can be really challenging to find vetted organizations in those circumstances. What sources can donors turn to when it comes to giving in times of crisis?

So again, in a time of crisis, there's also a certain emotional charge that comes with that, particularly if it's a crisis that affects you personally in some way or form. It's your family, it's your background, where you come from. It's a part of the world that you care about or it's just you've been devastated by the images that you've seen.

So one of the concerns and one of the things that happens during a time of crisis is you can have predatorial behavior. You can have lookalike charities. You can have just bad actors that are trying to divert your resources to them and not to the cause. So I would say that's probably-- it's a reactive time of giving.

And it's definitely a time where you want to use a third party. You want to you're giving to a real charity. That's super important. You want to it is the name that it is, right? So you want to look it up. You want to look up its insurance tax status. And you also want to that they can handle the situation. A lot of crisis situations require interventions in countries that might be at war.

That's not necessarily achievable by small organizations, little pop ups. Sometimes you need to go to well-established organizations.

That makes sense.

You have organizations like the Center for Disaster Philanthropy that's a great source in a time of crisis. Charity Navigator will always put together a crisis list for a specific issue. We get them up within 24 hours. And we'll list high-rated organizations. So they're legitimate and they're also high-performing organizations that are working in those areas.

You also have the internet, a broad internet search. But again, start there and then refine it, make sure you're giving to a good organization. And then the last thing I'll say about crisis giving is this is something that, sadly, we're having more and more environmental and human-related crises right now. As you budget for your philanthropy, and you should budget for your philanthropy, leave some money for unexpected situations because they're the things that you care about that you deeply want to support on an annual basis.

And then something's going to happen in March or in November that's not planned. And you're going to want to do something about it and make sure you have the resources to do something about it.

Yeah, that's a great point. I think that's a conversation that we often have with donors is that the majority of your giving can be proactive, but reserve some ability to be responsive and reactive so that you can respond to current events. And it's not going to derail your giving plans over the course of a given year, and your budget, and all of that.

Maybe just one last point on proactive versus reactive giving. How does this extend to the types of donations that you could make such as recurring donations?

It's a great question. And I think when I look at my planned giving, so areas that I care deeply about-- and that's not going to change probably maybe for a decade or so-- that's a great example for me of really building a relationship with an organization that I support, signing up for a recurring gift. So that could be a recurring gift off my credit card. There are other ways of doing that.

It's a monthly gift. It could be a quarterly gift. Organizations love that because a lot of giving happens at the end of the year. If you sign up for monthly donations, they know they have a steady stream of income that's coming on a regular basis that they can actually count on and they work towards. I would reserve disaster giving as a one-time gift. And I would also even consider giving anonymously because these may be organizations that you don't necessarily want to be solicited from after that disaster.

Yes.

And so using anonymity in your giving is something that's-- it's a choice that you have. If you're unsure about an organization, you're getting started and you're giving to a specific cause area, it is one great way of actually getting going. You call the shots that way.

Yeah, absolutely.

I think that's really important.

Yeah, that's really helpful to hear. Great advice. Let's shift gears to evaluating organizations. So you've found an organization in your interest area. And you want to make sure that you're putting your money where you can have the most impact. What are some important factors to consider when assessing an organization?

I think I would start with mission alignment. And this is personal. Do I personally align with the organization's mission? Assuming that's true, I would then look for what they do. Does that align with the mission statement? So does their strategy align? And are they doing that? And then you really look for articulated impact and results on how they're achieving what they say they're doing.

So what's the cause they're trying to affect in the world or the difference? And are they doing that? The other elements-- and I'll give 30 seconds on how we evaluate an organization-- is we want to know their articulated plans so that they have strength of leadership. So you want to believe in the CEO. You want to know if they have impact.

Are they effective at that? And are they efficient at that? The other thing we look at is what we call culture and community. And one of the elements of giving, or let's say the nonprofit sector that's different than the commercial sector is the purchaser is not the consumer. So you're making a gift. But you're not actually receiving the goods that are being provided.

So we look at feedback mechanisms and how the organization interfaces and gets feedback from the people served, by the constituents, or the beneficiaries. Very important actually understanding if there's a difference being made and if it's being perceived as such. We also look at financials. You want to know that you have a sound financial organization. And you also want to that they have good governance.

So an independent board of directors is a really key thing to look at, otherwise things could go all over the place. Those would be starting points. And ultimately, are they making the difference that they say they're making?

Absolutely. And if you had to ask three key questions of an organization when you're assessing an opportunity, what would they be? I would start with mission statement. What's your mission? What's your plan to achieve that mission? What have you accomplished so far?

And if I had a fourth question, and I always have more than three, I would ask them what they've learned--

Oh, interesting.

--over the years because you want to be investing in a learning organization because the reality of giving and the reality of social interventions is they're really hard.

Absolutely.

I think sometimes we have a false expectation as a donor that my money's got to go to a perfect result. The fact of the matter is nonprofits are picking up areas that commercial business doesn't see value in because it can't make money, and government hasn't been able to provide a service.

Right, like big market failures.

Huge market failures. We are the safety net, the nonprofit sector. So there are going to be mistakes. And we should be celebrating mistakes in the social sector the same way we do with startups as they learn, their mistakes for learning so that we can actually achieve real results that make a difference.

You're enhancing and improving what you're doing overall based on that learning.

And I think on that last point, I want to emphasize that in the sense that when you think about your giving, think about, what's your risk tolerance? Are you willing to give to an organization that's trying to figure something out and may make mistakes? And for some people, that's exciting. For some people, that's--

Terrifying.

--I can't go there. And that should influence your choices.

Yes, that's a great point. That's a really great point. I think the risk aversion is so key here because we don't want to waste our money, our charitable dollars necessarily. But to your point of social innovation and what we can learn from it, it's going to happen. So what's your tolerance there?

What about red flags, warning signs that donors should be looking out for?

I think I would look for excessive turnover in an organization, particularly at the leadership level. Is there something going on? I think you could do a simple internet search on the organization you're thinking of supporting and seeing, is there something going on?

Yes, reputation, right?

Reputation. If reputation is important to you, track that. The other thing-- and again, Charity Navigator provides this for you. And again, we're a free service. We're a free website with ratings and information. We have an alert system. It's four levels of alerts where we look at things from a major media investigation's happened regarding an organization, or there's an attorney general's investigation going on, or there's confirmed wrongdoing from an attorney general's office.

That's important information. That should influence your choices. We'll let you know what's happened. We simply give you the information that's publicly available. And then you make a choice based on that. The other thing that we also do, which is important, particularly in a crisis, is when we find a fake charity or something that often happens is an organization will go out of business. But they'll keep soliciting.

Yes.

We don't want you and we actually won't let you on our site give to an organization that is out of business. That's not philanthropy.

That's a great preventative strategy, absolutely. In our last few minutes, can we talk about impact? I want to make sure that we touch on it because you found an organization. You evaluated them. You gave your money to them. Now what? How do you think about the impact of your gift?

I think the way our evaluations look at impact today is in certain areas where there's a known social intervention, where there's good academic literature saying the intervention leads to a certain result, whether it's planting trees for carbon reduction, cataract surgery to eliminate blindness. You have a known outcome. You have a known intervention for it.

And then what we do is we average out all other sort of externalities. And we come up with a cost per outcome analysis. And we say that for $10 at this organization, you get this many interventions versus for $10 you get less at another or more at another. And so we're looking at it in that respect. So it's a known outcome with a direct, measurable financial output at that point.

The other thing that I would look at is in areas which don't measure so easily. So look at something like policy intervention where you're trying to shift laws to protect the environment or to change a certain or enable certain things in the world. Those interventions are much more difficult to evaluate. So I would look for learning. I would look for feedback. And those are some of the things that we're trying to measure as well.

That's really helpful. Before we go, one final question. If you had one last piece of advice around finding and assessing nonprofit organizations, what would it be?

I would say stick to-- always be generous. Be forgiving in your giving and follow your gifts. In other words, when I think of giving, actually, I love to give. But I'm investing in a future. I'm investing in a better future for myself and for other people in the world and other creatures in the world.

And so it's about staying engaged. Stay with what you support, and then be tolerant for mistakes, but always look for learning.

I love that. That's great advice. Thank you for sharing your insights.

Thank you, Jamie.

We hope that today's conversation can provide you an actionable framework for ways to support meaningful giving opportunities. Thank you for joining us.

Prior to making financial or investment decisions, you should speak with a qualified professional in your JP Morgan team.

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