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Tuesday, September 02, 2008
Six Ways to Donate to Hurricane Victims
Cornelia Rowe
FOXBusiness
If you've been watching the images of destruction from Hurricane Gustav and wishing you could do something to help those affected by the storm, here's a guide to just a few of the many charities looking for assistance.
1) AMERICAN RED CROSS
So far, the American Red Cross has spent $12 million getting their 3,500 volunteers in place to help run the 344 shelters that are providing assistance to Gustav victims.
But in a year that's has seen devastating floods and wildfires, spokesperson Rosemary Mackey said the organization is in dire need of monetary donations.
"We are literally running on empty," Mackey said. "Our coffers are depleted."
Donations can be made either through the Red Cross's Web site or by calling 800-733-2767 or 800-257-7575 (for Spanish speakers).
2) SALVATION ARMY
The Salvation Army is also seeking cash contributions through its Web site or by calling 800-SAL-ARMY. It has asked that in the immediate wake of the hurricane, people withhold donating what it calls “kinding goods” --like clothing and furniture -- until damage can be assessed, needs can be determined and spaces can be found that can hold these items.
Maj. Gene Hogg, who is the Division Secretary overseeing Alabama, Louisiana and Mississippi in the wake of Gustav, advised people who want to help in rebuilding to go to the site and sign up as a volunteer, where they can register their skill sets and availability.
"When my commands on the ground are out in the field and looking for something like a forklift driver, " he said, the group can search the list of potential volunteers “and invite them to come down, secure them with credentials and training to deliver that kind of service to the community."
3) AMERICAN SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS
The preparation, on all levels, for Gustav has hands-down been better than the preparation for Katrina -- right down to making arrangements for the Gulf's four-legged friends. During Katrina, many evacuee shelters would not accept animals. As a result, hundreds of pets were left behind and had to be rescued after the flood.
This time around, animal advocacy groups like the Humane Society worked with local animal shelters to provide pick-up points for pet owners to drop off their pets and provide shelter for them to ride out the storm.
The ASPCA currently has a 12-member disaster response team living in two trailers and overseeing an animal shelter for evacuees' pets right next to the Louisiana Mega Shelter in Shreveport that is being run by the Red Cross.
"We are caring for over 1,000 pets -- the majority are cats and dogs, but we have rabbits, hamsters, birds, and even one hermit crab," says Allison Cardona, senior director of Disaster Preparedness for the ASPCA. "People can stay at the Red Cross shelter and have their pets next door. They can come walk over and feed them and check in on them."
To provide assistance for the ASPCA and this project, visit the Web site.
4) CATHOLIC CHARITIES
Catholic Charities has seven assessment teams on the ground across the Gulf, ready to provide immediate aid like food and shelter. President Larry Snyder says right now the best way to help is by contributing direct monetary assistance.
"Once we have ascertained what peoples' needs are, then we can let people know that there's need for diapers, for children's clothing, for things like that," said Snyder. "Right now, the worst thing you can do is send those things because at this point, it will just get in the way."
The organization also provides assistance for long-term, post-recovery issues such as evacuees' transitions back to home and work.
"Let's say that someone works in a business that has been destroyed, and they're going to be out of commission for six months or so," said Snyder. "We would work with them to see how they would bridge that six months before they're working again."
5) NETWORK FOR GOOD
This nonprofit Web site was started in 2001 by Cisco (CSCO), AOL (TWX) and Yahoo (YHOO) with the aims of making it easy to access charities online.
“It's a search engine," said Network For Good's Katya Andresen. "If you go to our Web site you can receive up-to-date information (on specific disasters requiring assistance) and search to donate or volunteer together at the same time."
The site lists charities that are accepting donations for Gustav relief and link to direct volunteer opportunities. In addition, people can sign up for email bulletins and can be notified through Network for Good's listserve when there are specific monetary and volunteer needs.
The charities listed on the site are carefully vetted.
"We have a number of criteria," said Andresen. "All the organizations are confirmed 501(c)3 organizations, are in good standing with the IRS, are not in violation of the Patriot Act, and we also confirm directly with them that they are providing aid directly to the people in need of help."
6) USA FREEDOM CORPS
The USA Freedom Corps offers potential donors a place to connect with nonprofit organizations.
"It's a one-stop shop for any and all volunteer opportunities," said spokeswoman Rebecca Neale. "We work with 11 national nonprofits.
We're also coordinating with the Department of Health and Human Services to make sure we are in touch with the needs on the ground to immediately help those needs."
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Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.






