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Money Buzz 09/03

Online charitable systems for your employees; a fundamentally flawed investing strategy

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This story appears in the September 2003 issue of Entrepreneur. Subscribe »

Way to Give!

It's a nice idea in theory--encourage employees to contribute to worthy causes, and you'll help make the world a better place, boost morale and receive a nice tax break. But thanks to high-profile cases of mismanagement, charitable programs in the workplace are becoming the opposite of the image-enhancing good deed they're meant to be.

But don't give up. Instead, consider an online contribution system such as KindMark (www.kindmark.com) or Cybergrants (www.cybergrants.com) that can help you guard against getting burned, while simultaneously bringing greater efficiency and flexibility to your charitable program. "Third-party giving systems enable employees to access comprehensive information about each nonprofit and make donations, sign up for volunteer activities, apply for matching grants and more," says Craig Wichner, CEO of Mill Valley, California-based KindMark.

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