At DWM, a great amount of our clients are charitable givers, which makes us very proud advisors! Times are tough and the world has been pretty upside down between the Stock Market Correction, Covid lingering, and recent tragedies that have us all on edge. Something that can stand against all that comes our way is a giving heart. One charity that has changed the charitable giving in America, and a favorite by a lot of our families, friends and clients, is the American Red Cross.
Clara Barton founded the American Red Cross in 1881 focusing on protecting the war-injured after the Civil War, inspired after the Swiss Global Red Cross. With the outbreak of the First World War, local chapters of the American Red Cross skyrocketed from 107 chapters with 17,000 members in 1914, to 3,864 with 30 million members in 1918. The public contributed $400 million in funds for the Red Cross’s first aid, water safety, nursing programs, hospital and ambulance staff. After the war, the Red Cross focused on helping veterans and enhancing safety programs and homecare for the sick. When the Second World War struck, the Red Cross enrolled 104,000 nurses into the Service, shipped over 300,000 tons of supplies overseas and collected 13.3 million pints of blood for the Armed Forces. From there, the Red Cross created the first nationwide civilian blood program than supplies more than 40% of the blood/blood products used in the USA today. The blood products were used in all wars since, in first responding fields for HIV/AIDS, in hospitals across the US, and in support in the wake of disasters. Click here for more history of the Red Cross!
Today, the Red Cross provides compassionate care for people affected by disasters in America, support for members in the military and their families, blood collection, processing and distribution, health and safety education and training, international relief and development. There are Red Cross locations in every state that are on the clock 24/7, responding to emergencies every 8 minutes. Over 13.8 million units of blood are collected, on average, a year, and the Red Cross uses every bit helping the US. Charity Navigator is a charity assessment organization that evaluates hundreds of thousands of charitable organizations based in the United States, operating as a free 501 organization. They have given the American Red Cross an 84/100 financial rating stating 90 cents to every $1.00 goes directly to giving back, a 100/100 for impact and results, a 100/100 for leadership, and 96/100 for culture and community. This shows that the Red Cross is an A+ charity that can be trusted!
So far in 2022, the Red Cross has lended a helping hand and has provided resources to support Ukraine and the Uvalde community, and responded to more than 20,700 home fires in the US. Last December, the Red Cross aided the Kentucky Tornado victims donating $2 million in direct cash assistance, helping repair 2,500 homes, served 73,000 meals and delivered 41,000 relief items. The Red Cross is the #1 support in Hurricane recovery, and they have been prepping for the active Hurricane season, starting June 1st 2022, with volunteers ready to serve. It is estimated that in 2022, 15 million will gain lifesaving skills including first aid, CPR and the use of defibrillators through their local Red Cross chapter. In summary, the American Red Cross is an American grown charity that is trustworthy and makes America, and the world, a safer place.
How can you donate to the American Red Cross and other charities? There are various ways! You can donate to the American Red Cross online here, donate blood at a local drive (you can find Blood Drives near you here), or donate time volunteering. We at DWM can assist you in donating through a Qualified Charitable Distribution (QCD) from your IRA if you are 70 ½ years of age, or sending a monetary grant from your Schwab Donor Advised Fund, to make your donation the most tax-efficient. If you are interested in making a donation to any charity, contact us at DWM and we will be glad to assist in your generosity!
DWM is no way favoring the Red Cross over other local charities, or insinuating our clients’ donations must go to them. We have just been touched by all the Red Cross has actively been doing around the world, and wanted to do research and share with our family, friends and clients! For more information, and the source of all facts and statistics in this blog, visit RedCross.org.