In America in 2017, $410.02 billion was donated to charities all over the globe. This was the first time that an amount above $400 billion had been given, and it is estimated that 70% of that was given by individuals. This is frankly astonishing, but it isn’t surprising when you consider all of the good that people get by giving to charity, and even more so by giving regularly. Companies like Globalfaces Direct are working around the clock to improve this number by making many charities more visible and transparent. Here’s why charity donations are significant for you.
- People who give to charity, experience more pleasure. In 2007, National Institutes of Health did a short study, in which they allocated 19 women $100 and were told they could keep what was left at the end of the session. They used an fMRI scanner for an hour, and a computer tracked which regions of the brain activated and when. They found that three different situations activated the pleasure centers. Giving the money voluntarily, seeing the money go to a good cause, and receiving. Meaning that receiving money was on par with giving it away.
- Those tasty tax deductions. No one ever said that you can’t also reap the rewards of giving money. If you give to an IRS-approved charity, you can write off tax donations on your tax returns. Some restrictions do apply, but in the long term, this is a great win all around. Check the IRD website for more information on that.
- Giving breeds giving. When you give money, and you feel good about it, you are more likely to tell people why you’re feeling good. In turn, they want to enjoy some of those great feelings and will be tempted to give money, too. Motivating people around you to give without you having to ask them directly to donate is great. This gives new meaning to the term, ‘it takes a village’.
- If you have children, or nieces and nephews, the chances are you think about traits that you would like to cultivate in them. You want them to be happy, kind, caring and likely generous with their time or ‘things’. If children see you giving money, they are more likely to ask questions about why, where it’s going, and who will benefit, etc. As such, once they gain that knowledge, they are more likely to participate in giving when they are in a financial position to do so.
- You don’t have to give money if you can’t afford it, or it doesn’t align with your beliefs. You can instead give up some of your time. This is a positive thing to do. You will still get to light up those pleasure sensors, and you can make societal improvements without parting with a cent.