A slow economy creates hardships for non-profit organizations and charities that are always challenged to raise money to better serve the clients or causes they serve.
Right now governments are cutting back grants and funding for charities and businesses, fighting to survive, are forced to reduce their support for good causes. This forces non-profits and charities to be creative and to enlarge their fundraising campaign boundaries.
When enlarging outreach to new sources, charities and non-profits certainly are looking at the power of celebrity endorsements as a new donor source. Any certainly many sports celebrities are willing to support worthwhile charities by helping to increase public attention to a good cause.
As a result athlete celebrities are being hard-pressed in today's economy to lend their support to non-profits and charities. How can they sort through the deluge of requests and make rational choices about how best to invest their good name and time to a cause worthy of their support?
Many athletes find it helpful to organize a foundation as a legally sound vehicle to donate their funds to and disperse to charities that prove their case. Examples of foundations organized by athletes include Alonzo Mourning Charities, Inc., Amani Toomer Foundation, Andre Agassi Charitable Foundation, Athletes for Charity, Inc. Barry Stokes Foundation, Derek Jeter – Turn 2 Foundation, Dikembe Mutombo Foundation, Magic Johnson Foundation, and many more. So one thing athletes who are overwhelmed charitable requests can do is consult their attorney, financial advisor and agent and form a foundation. A foundation not only saves time for an athlete but has very positive tax benefits.
Sometimes an athlete chooses to support a particular charity because either they or a loved one has suffered from the same illness that the charity supports or because teammates or family members support that charity. And this is fine.
Another reason athletes choose to support charities and non-profits is the potential for major image and career enhancement. And this is fine, too. With this in mind, the athlete is smart to choose a charity that will do the most to improve his/her public image.
Some athletes wisely choose to support a charity within the community where they work. Yankee Centerfielder Curtis Granderson, for instance, supported several good causes within the City of Detroit when he played for the Tigers. The fans loved Granderson and he felt good about the causes he supported. Athletes will find it easier to learn about the work of a local charity because it is highlighted in a local newspaper or because someone they know works with that charity. By supporting a local charity, an athlete can work with the group and develop insight that only comes with direct involvement.
Another smart choice for athletes is to support groups that give a voice to those whose struggles may otherwise be ignored, such as the poor, animals, crime victims, people with disabilities or minorities.
Use the same standard of diligence in choosing a charity as you do when making investment decisions. Ask for audited financial statements and documentation of what the charity has tangibly done to help nits cause. Do the research before making a choice. Once you make a choice, check back regularly to determine how the charity you selected is actually spending its money.
Athletes need to give careful consideration to what form their donation will take. Among the options are bequests, cash, a charitable gift annuity, charitable remainder trust, life insurance, real estate, securities, volunteering of time, or simply a personal appearance.
And, finally, when making charity choices athletes can turn to the internet. Enter the charity's name in a Google search and see what information comes up, especially what other donors are saying about their experiences. Hopefully, the charity has a website to explore and there likely will be newspaper stories about the charity's involvement in the community.
Athletes will be hard-pressed to make correct and wise decisions about what charity or non-profit to support but the challenge can be met with careful, deliberate actions, and by listening to the mind before letting the heart decide.
About the Author
Joe Lorenz is the founder of Real Sports Labs which produces The Real Deal a powerful
pre-workout supplement that helps improve endurance, energy, strength and mental focus whether biking, swimming, running, body building or weight training. The Real Deal is available at Health Clubs and Gyms as well as from personal fitness trainers or online at
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