Why Charitable Giving?: Your Go-To Guide

“If you want happiness for a year, inherit a fortune. If you want happiness for a lifetime, help someone else” – Confucius
“When we give cheerfully and accept gratefully, everyone is blessed” – Maya Angelou

  1. Donating to charity is tax deductible. When deciding on a charity to donate to, consider finding one that is IRS approved. This way you can help others while reducing the amount of money you have to pay through taxes. Don’t know how to tell if a charity is IRS approved and eligible for a tax deduction? Click here. (Side note: the $50 per year membership fee for Simply Virtuous counts as a tax-deductible donation! Also, all of the charities featured on the website are IRS approved, guaranteed.)
  2. Helping others makes you feel good. Studies show that donating to charity generates positive energy and activates the reward centers in your brain. Consider a time when you did something nice for someone simply out of an interest in helping them and making their life easier. For example, getting a friend or colleague a coffee while you are out getting one for yourself. Feels good, right? Now imagine this feeling on a larger scale. Also, remember that what goes around comes around – maybe later on in life that same friend or colleague will buy you a coffee in return when you need it.
  3. You don’t need to be a millionaire to donate to charity. Small donations of only a few dollars can have a large impact. There is a common misconception that you can’t donate to charity unless you are donating a couple of hundred dollars – this is not true, and the Against Malaria Foundation is an example of this. Around half a million people die from malaria per year, and the Against Malaria Foundation works to protect people from contracting the disease by funding and distributing mosquito nets to those who need them. One mosquito net costs $2 and lasts for up to 3-4 years, protecting two people per net. Therefore, donating just $2 per year to the Against Malaria Foundation can help stop two people from contracting malaria, proving that small donations count. Also, when donating through the Simply Virtuous website, your donation will be grouped with others in the process. This means that your $5 donation will be coupled with other people’s $5 donations, resulting in a greater gift to the charity when the money is transferred.
  4. If you don’t have time in your day to go out and volunteer, consider donating to charity. People in today’s society, especially millennials, are extremely busy with school, work, and other activities, and often cannot set aside enough time, if any at all, to volunteer. If you fall into this category, then donating money to charity is an easy way to make up for a lack of volunteer work. You can help others by giving money to a good cause, and you don’t need to take much time out of your day to do so.
  5. Donating to charities can help you create a network of connections. When you continuously donate to a singular charity, you can often find people who are passionate about the same cause and connect with them. Furthermore, beyond just donating money, going out and volunteering for a cause can help you meet new people from all over the world and create an everlasting network of people who share a common interest in philanthropy.
  6. Choose a cause that you are passionate about. Perhaps you have a personal connection to a charity because you or a family member has been affected by it, or perhaps you just have a strong drive to help a specific group. Donating to a charity that you feel personally drawn to will make you feel even better because you can potentially relate to the cause and know that your money is going towards something important and beneficial.
  7. Do your research. Always look up each and every charity that you are considering donating to in order to make sure it is legitimate and that your money will be put to good use. Luckily, Simply Virtuous does this for you. Simply Virtuous researches and selects trustworthy charities that are worthy of your hard-earned money, even providing you with portfolios containing information on each broader cause. By paying a $50 (tax deductible) membership fee per year, you can easily donate to a wide variety of featured charities through one account. All donations made through the Simply Virtuous account are guaranteed to be tax deductible. To visit the Simply Virtuous website and see what charities you could donate to, click here.

Leave a comment

Please note, comments must be approved before they are published