Let’s say you care enough about a particular issue to open your wallet. How do you choose the best recipient for your donation? For an individual donor, this can be a surprisingly hard question to answer. “Financial information about nonprofits is available, but not much else,” says Deyan Vitanov, CEO of the start-up Philanthropedia.

“There’s no easy way to find out about impact, and that’s what matters most.” His new organization aims to bring donors expert opinion about who’s doing the best...

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