More than 1,000 ways to invest tax refund dollars are surveyed for effectiveness, using an “eROI” evaluation process.
ATLANTA /PRNewswire/ — Over the next three weeks, most of America will be receiving a nice little bounty for filing their taxes. On average, each taxpayer will receive a tax refund check for about $3,000, according to the IRS.
The No. 1 question in most households will be, “How do we spend it?” The answer depends on who you are, apparently.
According to research by ROI Ministry Inc. — a not-for-profit organization of marketplace Christians and church leaders who desire to make the greatest impact possible with their God-given resources — 60 percent of Generation Y will head to the bank, while only 36 percent of Generation X will have the discipline to put it away. Fifty-four percent of single men will stash away their tax refund, while 63 percent of single women will find ways to spend it.
To help make some wise choices, Atlanta-based nonprofit ROIministry.org has come up with a list: Top 10 Smarter Ways to Spend Your 2013 Tax Refund.
A recent study by Travel Leaders Group found that 43.8 percent of those polled would use some or all of their return on travel. And, according to a new study by eBay, more than one-third of Americans plan to spend it on a vehicle-related purchase.
But, what about those who want to spend the money on something that has longer-lasting impact than that all-inclusive resort vacation or shopping spree at the mall? For them, a donation to a charity or nonprofit could be the best investment.
ROIministry.org challenged exhaustive research, strategic givers and the largest Christian foundations in the world. After a reviewing nearly 1,000 causes, the donor advocacy group produced a list of the 10 most impactful Christian charities to invest in using a tax refund:
CHARITIES WITH THE HIGHEST eROI
- You — Individuals have ability to increase giving impact substantially.
- 410 Bridge
- Global Outreach Media
- Faith Comes By Hearing
- Legacy World Mission
- Jesus Film Harvest Partners
- Compassion International
- Gospel for Asia
- International Leadership Institute