We all should be proud of the fact that the USA is by far the number one most generous country in the world. American individuals, bequests, foundations and corporations gave an estimated $427.7 billion to US charities in 2018, according to Giving USA 2019: the Annual Report on Philanthropy.
The average charitable deduction on approximately 37 million tax returns from 2017 was $5,500. This is no small number. These dollars do an exponential amount of good as the majority of charitable organizations are very efficient and are able to stretch your donated dollars to provide the greatest benefit.
I would like to think that there is something unique and special about our democratic society the fosters a culture of giving.
Interestingly, both rich and poor companies are generous. China, which has the second largest growth domestic product in the world, scored as one of the lowest when it comes to being a generous country. Whereas both Myanmar and Sri Lanka were near the top of the most generous lists, where small frequent acts of giving are the norm.
Yesterday was giving Tuesday. It began is an idea in 2011 by the nonprofit Mary-Archie Theatre Company in Chicago. They urged shoppers to take a different approach; to consider donating to charity after they had finished their Cyber Monday shopping. In 2018, total donations on Giving Tuesday were estimated to be nearly 400,000,000 in the United States alone. As an added benefit, many corporations offer matching funds on this day.
I think it’s a great idea to take a minute on this day and direct some of our resources to causes and charities that are dear to our heart.