HYANNIS – November 30th is “Giving Tuesday” and Attorney General Maura Healey is urging people to make educated decisions when donating to charities over the holidays.
According to the AG’s Office, conventional professional solicitors paid by charities to raise funds from the public transfer less than half of their collected contributions to the charities themselves.
“Thousands of charities in Massachusetts rely on donations to help provide critical services and resources to individuals and communities, especially as we continue to face challenged from the COVID-19 pandemic, said Healey.
“If you are in a position to give, be sure to do your research and make informed decisions in order to maximize your donation.”
According to the 2020 Professional Solicitor Bulletin, a group of 44 professional solicitors collected $93 million, with only about $40 million going to the actual charities, a finding consistent with the previous five years.
Total revenue from all professional solicitors jumped from $950 million to $1.2 billion in 2020, primarily because of three professional solicitors who used unconventional methods such as investment management firm fundraising for donor advised funds to raise $1.12 billion and donated 99% of it.
The AG’s office has outlined several strategies for potential donors to employ when speaking to professional solicitors, such as questioning the amount of every dollar donated which will go to the charity.
Professional solicitors are required by law to disclose certain information when asked.
To learn more about informed charitable giving, click here.
By, Matthew Tomlinson, CapeCod.com NewsCenter
About CapeCod.com NewsCenter
