Hi Josh,
Keri has asked the same question I was thinking about when reading this.
One thing to consider around this is that SEO isn't just about getting people to your site - it's about getting the right people. I personally would be looking for phrases like "charitable donations", "charity donations", "donate to charity", etc. Those people that are searching for those phrases have one clear action in mind, whereas "donate" could be anything, including people just looking for general information.
-Andy
