The tendency of modern civilization is to give money in charity to the poor. Such charity has no spiritual value because we actually see that although there are so many hospitals and other foundations and institutions for the poor, according to the three modes of material nature a class of poor men is always destined to continue. Even though there are so many charitable institutions, poverty has not been driven from human society. Therefore it is recommended here, bhiksave sarvam om kurvan nalam kamena catmane. One should not give everything to the beggars among the poor. The best solution is that of the Krishna consciousness movement. This movement is always kind to the poor, not only because it feeds them but also because it gives them enlightenment by teaching them how to become Krishna conscious. We are therefore opening hundreds and thousands of centers for those who are poor, both in money and in knowledge, to enlighten them in Krishna consciousness and reform their character by teaching them how to avoid illicit sex, intoxication, meat-eating and gambling, which are the most sinful activities and which cause people to suffer, life after life. The best way to use money is to open such a center, where all may come live and reform their character. They may live very comfortably, without denial of any of the body’s necessities, but they live under spiritual control, and thus they live happily and save time for advancement in Krishna consciousness. If one has money, it should not be squandered away on nothing. It should be used to push forward the Krishna consciousness movement so that all of human society will become happy, prosperous and hopeful of being promoted back home, back to Godhead.
Source: A.C. Bhaktivedanta Swami Prabhupada (2014 edition), “Srimad Bhagavatam”, Eighth Canto, Chapter 19 – Text 41