The money Canadians donate to charities is allowed to be claimed for a tax credit for the year
With claims of some charities not using the donated money as advertised, people are looking for the best charities in which to invest. A non-profit business, Charity Intelligence, rates charities to help people decide where to give their donations. The company shared the list of Top Impact Charities for 2020. The organizations are ranked by the impact made for each dollar donated.
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Canadians donated $17 billion to charities in 2020, according to a report by Charity Intelligence. The rating released by the not-for-profit company uses analysis to calculate the charities that use the money the best to reach the most people. It shows how much information is released to donors, how much it spends on overhead, and how much money it needs based on the financial situation. Seven of the top ten charities work internationally, providing education, health services, and water.
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