- I learned about the methods and calculations one can use to determine if a company is a smart investment. I learned about the tax form 990 that can be used to examine the funds of a company and the amount that is used for management, programs, and how long a company is able to last with the money used. The sustainability can give a great indication to why a company would be a good or bad investment. The company may match your goals but the way companies use the money given is important. Another factor to consider is the leadership and organization of the company. If the company is not run well and has bad leadership, the money may not be used to the most effective ability. Some factors like size and management of the company also helps determine how well a company can use the money. A larger company may have more resources already available to them so they can create more opportunities for themselves to help out.
- It’s important to look at the numbers before investing to determine the company’s efficiency and effectiveness. Even if a company matched your vision, the way they allocate funds may not be efficient or what you would prefer. The numbers can you help visualize how companies use the money and if they spend it supporting the cause or if it is spent on management and sustaining themselves. When looking at charities, I learned about the cost to raise $1 and how some companies do not use their money effectively because it is harder to raise money. The sustainability is also an important factor because it is preferable to have a company that can last long so they can continue to support a cause. When comparing the tax forms of different charities, it was easy to see when one charity was stronger than another economically.
- I learned about the different ways charities function and how some can use donations more effectively. I also saw how the research and contributions would help the people that are focused on. I’ve also become aware of the difficulties that appear when donating. There are many scams that want to take your money and run, so you have to be very thorough and research beforehand. It is important that the money you give away is being used effectively and for a good cause, so research helps determine the programs that are funded and how the company itself uses the money. Through MSP, I’ve become more aware of ongoing issues in the world and how important it is that donations are used to fund programs. I’ve been more open to many ideas and am excited to donate in the future.
- I chose to research Ronald McDonald Charity and Sharp Healthcare. Our mission was to focus on hospitals and fund that, so looking towards charities that would better improve healthcare fit perfectly. Ronald McDonald especially impressed me because I found out that they look to support the well-being of children through prioritizing education and the mental state. The tax forms were also in a good state, where the funds were focused on programs and fundraising. The charity was also able to sustain themselves for a long time. The second charity, Sharp Healthcare, focused on health services and research. Sharp provides insurance and convenience at a cheap cost. However, Sharp’s funding distribution was not as focused on programs and fundraising as much as Ronald McDonald.
- My group decided to choose Salk Institute to donate to because of their mission aligning with ours. Salk Institute’s goal is to improve health through research and finding cures. They also work to improve agriculture. Salk Institute showed great statistics in its finances, showing stability and the sustainability for over three years. Salk Institute fit the most out of all the charities we talked to because of it’s focus on research and the economic ability to back it up. Our goal was to better the care of patients and those ill by looking towards health institutes and research, so Salk Institute’s mission aligned with us. Their focus on research and health care served the best purpose.
- I hope that the Salk Institute can use our donation to work on their research facility and find a way to improve on health medication and cures in the future. It is not realistic to think only our donation can make a change, so I hope that this will simply boost the institute’s capability and improve their facilities. Salk Institute can look towards specific diseases and impact health by further research and testing. Because of the huge impact of health research and it’s necessity for more money, I hope that in the future I can continue to help aid research for health by contributing even more money.
MSP Experience and Thoughts
May 23, 2018 by Leave a Comment
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