- There are a lot of great organizations worth supporting as a philanthropic business owner.
There are a lot of great things about being an entrepreneur. One benefit that business owners should consider is spending their money to benefit the rest of society.
There are a lot of benefits of giving back to the community as an entrepreneur. Once you consider the benefits of donating as an entrepreneur, you can start debating which places deserve your donations.
What Are Some Reasons to Donate to Nonprofits as an Entrepreneur?
There are a lot of great reasons to consider donating money as an entrepreneur. Some of these benefits are listed below:
- You can receive tax deductions for donating to recognized nonprofits. This is a good way for some entrepreneurs to offset their tax liability. However, it won’t let them decrease their self-employment tax liability.
- You can help improve the reputation of your business in your community, which is key to growing your brand.
- You can align your business goals with some of the nonprofits that you support. For example, if you support a nonprofit that provides employment to the community, then you can enjoy a large base of potential customers.
There are a lot of great reasons to consider donating to a nonprofit as an entrepreneur. You should consider these benefits carefully.
What Are Some Organizations for Entrepreneurs to Donate to?
At some point in your life, you will feel generous or inspired by organizations that have influenced or affected you in some way. Maybe you wish to donate to a medical institution because a family member may have received a diagnosis, and the cure is still unknown. Possibly you want to show monetary gratitude to an organization that helped you as a child, or you wish to make the world a better place. Whatever the reason, many organizations exist that appeal to your passion or moral cause. You can also consider volunteering, but the following benefits center primarily around giving money directly.
Being in a position to help another person is a tremendously positive feeling. Donating to help one person, an organization, or an entire community is admirable. Whether it is donating your time, knowledge, or resources, it is possible to do something at least monthly. Whether you are a well-known philanthropist like Mark Stevens or if you happen to buy a coffee for the person behind you randomly, you are making a positive indelible mark on someone. And regardless of whether it is large or small, it all makes a wake that can be far-reaching, farther than just the organization or the person who received your gift. Here are six top organizations that are worthy of your consideration.
1. United Way Worldwide
Education and financial stability are at the forefront of United Way’s mission, and it sits at the top of Forbes’ list of top charities. It recently reported an intake of $3.6 billion in private donations with a reported charitable commitment of 85% of its total expenses. The organization aims to create financially stable, educated, and healthy communities using its 2.8 million volunteers. Public policy and advocacy work are at the seat of this organization. It perpetuates relentless calls for change that will foster higher graduation rates and create healthier lifestyles that ensure job retention and financial sustainability in families.
2. Feeding America: US Hunger Relief Program
Feeding America is entirely donor-dependent and is dedicated to reducing and eradicating hunger in the United States. It is the nation’s leading and largest steadfast organization determined to place nutritional meals in all food-insecure areas and in front of every hungry person. The organization recently reported $2.8 billion in private donations and has a charitable commitment of 99%.
It is a great example of a social organization worthy of your support.
3. St. Jude Children’s Research Hospital
St. Jude Children’s Hospital is at the forefront of treating and working toward eliminating life-threatening diseases and childhood cancer. All children admitted are provided treatment, and their families’ medical bills are paid for by generous donations. Medical treatment is expensive, and often it is an obstacle to receiving excellent and comprehensive care. St. Jude’s makes it possible for all families to get the treatment they deserve. Recently reported charitable contributions of 70% make free medical care possible for ailing families.
4. Habitat for Humanity International
Having a safe and warm place to call home is just a dream for many families. Homelessness and poverty can be a gatekeeper that shuns hope for a permanent shelter. The divide between affordability and accessibility can be too enormous. Habitat for Humanity helps bridge that gap. Having a respectable place to live should be a human right. The organization, which serves more than 70 countries, recently received $1.4 billion in private donations and reported a charitable commitment of 83% of its expenses.
5. Direct Relief
Direct Relief touts a 100% charitable commitment. This benevolent organization is active in all 50 states and all over the world. It provides medical aid to areas impacted by disaster, poverty, and disease. This organization’s bedrock mission is to serve people, no matter the circumstances, without discrimination and regardless of the local government’s ability or eagerness to assist.
6. Salvation Army
The Salvation Army is easily visible around the holidays. Volunteers stand outside markets hoping someone will drop change into the iconic red receptacle. The organization recently reported a charitable commitment of 82%. This organization, which serves 130 countries, aims to meet all the basic needs that humans deserve. The cause is expansive, and philanthropic efforts include assistance for Christmas gifts, support to the LGBTQ community, disaster relief, homelessness remediation, poverty eradication, hunger relief, drug and alcohol rehabilitation, and job and life skills.
Poverty and limited resources or no access to comprehensive medical attention can create a vicious cycle that compounds poverty since people typically are no longer able to work if they are injured or sick. It is a human right to have access to shelter, food, warm clothing, and medical attention. Look for organizations whose missions are to better the lives of people domestically and worldwide, and it can start by helping just one person. United Way’s mission statement sums up the quintessential philanthropic mindset: “We all have a stake in what befalls our fellow man. We all benefit when a child succeeds in school, when someone finds a job that will help them provide for their family, or when more people are able to access quality, affordable health care.”