Giving to a good cause can have a substantial impact on the need at hand, but where do you start? There are so many needs to be met, choosing a charity can be more challenging than you may think. Fortunately, the “Oracle of Omaha” has some words of wisdom when it comes to focusing and leveraging your charitable influence.
Actually, Buffett’s counsel is really a framework of thought - the “RISE Framework for Social Change.”
Forbes recently explored the RISE framework in an article titled “4 Charitable Giving Tips From Warren Buffett.” Originally developed by one of the lecturers with Buffett’s free online giving course “Giving With Purpose,” RISE is an acronym to help center your thoughts and guide you toward good decisions when seeing to do good, specifically:
- Relevance – Clarify what motivates you.
- Impact – What is your “portfolio” (the collection of all your donations) and “toolkit” (the various ways you can contribute including with your money)?
- Sustainability – Is the charity likely to stay around with its “business model”?
- Excellence (in management and operations) – Is the organization well-run from top to bottom?
If you would like to learn more about the RISE framework, then read the original article and consider enrolling in Buffett’s online course in the future. After all, the course is free and he seems to have a pretty good track record when it comes to his financial abilities.