The next time you walk outside, look around. As you drive down the street, take note of the various buildings you pass. Now, imagine a world without those various businesses and organizations in place. Your library, community hospital, and local high school gone forever. Without philanthropy, that’s exactly what would happen. In fact, many of these places wouldn’t exist in the first place without the generous giving of selfless individuals over the years.
Not sure if philanthropy is up your alley? Think again. Here are five reasons you should give giving a chance.
1. Those Who Are Less Fortunate cannot Do without It
Many organizations that assist low-income families are nonprofit institutions. These companies rely on gifts from people just like you to remain financially secure. The next time you wonder what you can do to help people in need, consider giving to your local United Way or other institution that you appreciate.
2. You Need to Give
Deep down within every human being is the desire to reach out and care for others. One way to do this is through financial donations to nonprofit organizations. Give to a hospital, and you’ll ensure quality medical care to countless individuals in the future. Donate to a struggling library, and the generations will benefit from the gift of reading.
3. It Is an Act of Passion
When giving, philanthropists often choose institutions that provide services that are near and dear to their hearts. As a philanthropist, you have the power over where you would like to give your money. You can often even choose what your donation goes toward within your chosen organization. So pick an institution that is in line with your passions and give generously! It’s one of the best ways to help your favorite organizations grow and affect others.
4. One Gift Today, Many Gifts Tomorrow
When one person takes a stand and decides to make a philanthropic gift to an organization, others do the same. Be a leader and begin the pattern of giving in your family, workplace, or social club. You can even organize a group donation to allow everyone to participate and enjoy the benefits of giving as a team!
5. You’ll Get Back
As already stated, philanthropy makes people feel good. On top of that, your financial gifts also help at tax time. Gifts given to appropriately designated institutions are tax deductible, making your gift give back to you. Don’t worry-if you don’t want to taint your philanthropy with tax deductions, you may make donations without claiming them on your tax forms.
Oh, the Many Ways to Give
Giving a financial donation to an organization can take many forms. The most important thing is to remember that every gift counts-no matter how large or small. Giving within your means is a financially smart move that supports your organization of choice, without putting you in a bind. By doing this, you’ll also be more willing to give in the future when the opportunity arises again.
No matter how much you plan to give, here are a few ways to do it.
A single contribution allows you to make a one-time gift with no strings attached. If you like how your gift is used, you can give to the organization in the future, but there is no obligation to do so.
For those who want to give large amounts over a long period of time, there is often the option for regular payments. These require the individual to give monthly or yearly to an organization, ensuring crucial long-term support that keeps the organization up and running.
Including an institution in your estate planning allows an organization of your choice to benefit from your accumulated wealth following your death.