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Mrs_WorkingMuggle t1_iuk3trt wrote

i applaud your desire to use this money to help others. However, I'd encourage you to at least keep a portion of it. You don't know what twists and turns your life might take, and you don't want to find yourself at retirement age realizing that you can't afford to. Or what if an accident and medical costs deplete your savings? Wouldn't you rather survive debt free? Maybe you'll get lucky and end up not needing it then when you die you can give it to charities, and if you invest it somehow, you'll have used his money to make money and donate even more than you received to deserving charities.

He's dead, he can't buy your love at this point. Use his money however you'd like to live your best life in defiance of what he tried to do to you when you were younger.

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7lexliv7 t1_iuju3b2 wrote

Charity Navigator is a good place to start.

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spaceflower890 t1_iuk2ufk wrote

Just make sure you know what an organization lowering its overhead to stay below a few cents per dollar, often only screws over the young professionals and those with less experience in the industry. There are studies regarding the wage inequity of the sector.

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itsdan159 t1_iuk3zwm wrote

This, I very much recommend Charity Navigator but also don't obsess over low administrative costs. I've worked with a couple nonprofits and the staff are almost all paid like crap and their enthusiasm to be helping people is absolutely exploited.

Likewise an executive making a $300k salary sounds like a huge a waste, but consider organizations the size of some larger well known nonprofits do actually require a lot of specialized knowledge and skill.

In principle you want to look more at how effective they are. Doesn't help to spent 99 cents of every dollar on aid if it doesn't actually do much good because the staff is paid crap and the executives have no idea what they're doing.

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Scr0bD0b t1_iujuyr1 wrote

Charity Navigator, highly recommend.

It will provide financial scores and things like executive compensation, where available. Some real eye-openers there.

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Baby_Hippos_Swimming t1_iujvjwj wrote

Start a charitable foundation through Vanguard and name it something your father would absolutely hate. That's what I would do but I'm petty like that.

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CM_A_Laggin_Punk t1_iuk3kui wrote

This is pretty close to the correct answer. I would say sit on the sum of money for a while and weigh the best application of its use

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Baby_Hippos_Swimming t1_iuk3y2q wrote

Yeah I'd hate for him to just give it all to whatever organization only to find later there is a cause he's passionate about and wish he could donate to.

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EfficiencySafe t1_iujwvhk wrote

I would use it to pay off any debt you have first even if it’s only a mortgage. Second I would invest it possibly in mutual funds. It’s your money know and you never know if you need it in the future. My dad didn’t physically abuse us but he mentally did, So we kids have his temper. After my mom died the money was split up I have no regrets keeping and using the money I got. Best of luck 🤞

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ExPorkie15 t1_iuk4o7g wrote

Yeah this OP should take the money and use it for her.

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JoeClackin t1_iuk7yo8 wrote

This may be dependent on the amount of money but some things to consider.

Consider parking the money in a CD, HYSA or even investing it and distributing a percentage each year. That way if you change your mind about who you want to give to you still have resources.

Do you want to help support someone's annual budget or give to a big project (new building etc).

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myogawa t1_iuk6s0l wrote

Many cities have a community foundation who have people who research this kind of thing for a living.

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Hecks_n_Hisses t1_iuk74pd wrote

Some local charities that I donate to regularly (with tax write offs):

  • The local diaper bank: Did you know that you cannot use SNAP/WIC/Food Stamps benefits to purchase diapers? They are among one of the most necessary items to get a kid into daycare and parents can't afford them regularly. This was a regular problem in the pre-covid world and even more so https://www.wbur.org/news/2022/06/01/diaper-banks-inflation-parents-babies-expensive

  • A local group that refubishes musical instruments to be used at local schools for music programs.

  • the local independent radio station and my college radio station

  • smaller speciality animal rescues like the local wildlife or reptile rescue

If you don't care about getting a tax write off, you could also see what the local mutual aid groups in the area need and start filtering money to them over the year.

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achilles4206 t1_iuk7qt0 wrote

Do you have any charities or specific initiatives that are important to you? Work off that list. It could be difficult though to confirm how the charities spend because I read the IRS is so far behind.

I don’t know you but I am proud of you for distancing yourself from your abuser and becoming successful despite what you had to endure. I hope I can have this type of perseverance in the future.

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bros402 t1_iujxews wrote

Charity Navigator rates charities. If you have any specific causes, I am sure you can get recommendations from various subreddits (then you can research those charities)

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OddWelcome2502 t1_iuk9ll9 wrote

Do you have a local community foundation? They do a great job vetting the local organizations. I would reach out to them if you have one (most small-medium size cities have them)

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Sapphire580 t1_iukayj4 wrote

  1. Depending on how large the amount is, you could invest it, and have enough to live on the rest of your life and give yourself the opportunity to directly do charitable things for the rest of your life. Then you would know that his money went to the best possible cause and that 100% was used for the greater good

  2. You could go to your local hospital and find people that need the money for a life changing procedure, or to help out that don’t have insurance.

  3. I just had the engine blow up in my semi truck and have been out of work for 4 weeks waiting for a new engine to be put in. 4 weeks lost revenue plus around $20,000 in repair bills. I could use a little charity lol. I think we’ll be fine, but I’m sure there’s lots of people in your life directly that you could help, and they’d remember you for a long time for it.

Basically my point is the more you allow other people to control that money the more it opens up to corruption.

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scherster t1_iuk1vns wrote

I use CharityWatch.org. Invest $50 for a one year membership, and you'll have access to their data, rating charities A through F for how the funds are used. Charities are grouped by category, so it's easy to look up something you want to support.

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CryptographerNo8232 t1_iuk2hnu wrote

If you ask. In the US charities are required to tell you the percent that reaches the cause.

But can I recommend local animal shelters. Local food banks, and local clothing drives especially for children.

Monthly smaller donations help a bunch.

Create your own trust maybe. consult a tax specialist/ fund manager that might be able to keep you charitable trust going longer. Which in return could help future taxes

Glad your willing to share but take care of yourself. You WILL get phone calls with the saddest stories. So set up accounts that you are unable to touch. Treat like the lottery

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queensg28 t1_iuju7xd wrote

Just do loads of research. Loads. Research headlines like "xyz charity fined..." etc. Also, you can join Facebook groups for the specific thing you're wanting to donate to - autism, etc. And ask for stories of people helped by that specific charity.

Side note, Saint Judes Hospital is a really, really good cause and all profits go directly to the hospital. They take care of kids with cancer regardless of what their parents can afford.

Whatever you decide, whoever you decide to donate to, this is a really good thing you're doing. Don't let the logistics get in the way of that. God bless!

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