Looking back on the frenzy of Cyber Monday and Black Friday, it's eye-opening to realize that Americans spent a staggering $21 Billion on material possessions in just one weekend! This figure dwarfs the $3.1 Billion total for Giving Tuesday: gifts for nonprofit leaders with essential solutions to the world’s problems. We can do better.
How can we extend our care beyond the allure of material goods? Can we shift our priorities from consumption to sharing, not just during the holiday season but throughout the year?
The Numbers Speak: The stock market is up significantly this year, the economy is better for many, and Americans are generous, with over 64% giving to charity. The average individual donation is $5,900 per year, or about $500 per month. What do the numbers look like for the wealthiest among us? Studies show that giving as a percentage of income goes down at higher income levels. How do you feel about your giving levels considering the growth in your assets and/or income this year?
Giving Tuesday: A Start, Not the End: Giving Tuesday marks the beginning of the giving season to nearly 2 million nonprofits and global NGOs. It's a chance for us to share our wealth and show our care to those who need it most. So how about extending our care to a few more non-profits in these weeks before the end of the year? Click here if you need some ideas!
Actions to consider:
1. Commit to Giving More: Aim to surpass the average of 3-5% of income donated by Americans.
2. Choose Your Causes: Identify 1-3 issues close to your heart. Whether it's education, social justice, the environment, or immigrant and refugee relief, let your giving reflect your passions.
3. Evaluate Your Giving Pie: Take a moment to review where your donations have gone. Does your "pie" align with your values and desired impact?
4. Consider Trust-Based Giving: Explore giving with no strings attached. Trust the wisdom of nonprofit leaders, and ask them directly what they need.
5. Consider donating stock and avoid capital gains taxes: Talk to your financial advisor, it’s easier than you think. Reach out to Tracy if you would like some tips
Need some ideas? Click here to see a list of the organizations recommended by the attendees at our End of the Year Donor Briefing
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