Smart Giving: How to Make Your Donations Count

It's that time of year again. The holiday season is here, and with it comes the urge to give back. But where should you direct your donations to make the biggest difference? Many people struggle with this question, especially when there are so many causes and charities out there.

Meet GiveWell: The Charity Watchdog

One organization that has gained a lot of attention is GiveWell. It's a group that carefully checks out different charities. They want to make sure that your money goes to the places where it can help the most. GiveWell has become quite popular because they are open about their work and they really dig deep to find the best causes.

The Man Behind GiveWell: Elie Hassenfeld

Elie Hassenfeld, one of the people who started GiveWell, has an interesting background. Before he got into the world of charity, he studied religion. He even thought about becoming a scholar who studies ancient Jewish texts. But instead, he ended up working at a hedge fund and then started GiveWell. It's a big shift from religion to money matters, but maybe that's what makes him good at what he does.

How GiveWell Chooses Charities

GiveWell doesn't just pick charities randomly. They use something called cost-benefit analysis and randomized controlled trials. These are fancy ways of saying they look at the facts and the numbers to see what really works. They want to make sure that every dollar donated does the most good possible.

The Big Questions

But how do they decide which charities to support? It's not an easy job. They have to weigh a lot of different factors. They also have to think about how givers should approach donating. Should you give to local charities? Or should you look further afield? These are big questions, and GiveWell is trying to help people find the answers.

Making a Difference This Holiday Season

If you're thinking about donating this holiday season, it might be worth checking out GiveWell. They have a website where you can learn more about their work and how to give through them. But remember, the most important thing is to think carefully about where your money is going. That way, you can make sure it's doing the most good.