There are many personal benefits to donating to charity. Not only are you playing an active role in supporting a cause you care about, but you’ll also become more engaged in your community, and receive the added benefits of health, happiness, and a reduction in your taxes.
Donating to a cause you are passionate about encourages community involvement. If you care enough about a group to donate, it is likely that you’ll also begin to volunteer your time as well. By donating money and contributing your time, you’ll add to the longevity and success of local community organizations.
By donating to an organization, you’ll often be able to have influence over some of their projects. For example, more generous contributors are more likely to be elected to the group’s board of directors than someone who is not financially invested.
Improved Health and Happiness
People who donate to charitable groups tend to have increased levels of happiness. After all, studies have proven that those who give more have a higher level of satisfaction with their lives than those who do not.
Those who give are overall happier and have a more positive attitude than those who do not donate. According to a study from the University of Missouri – Columbia and the University of California – Riverside, people who donate score higher when it comes to feelings of joy and contentment than others who do not give to charitable organizations.
Reduced Levels of Stress
Charitable giving doesn’t just lead to increased levels of health and happiness, but it also leads to decreased levels of stress! According to a study performed by John Hopkins University and the University of Tennessee, those who donate have lower blood pressure and lower levels of stress than those who do not give.
Reduce Taxable Income
One of the more well-known advantages of charitable giving is the reduction of your tax burden at the end of the year. When you itemize your tax return, you can list the amount you donated to charitable organizations for a reduction in the income that the government taxes. You can claim more than cash. If you donate items to a charity, you can claim the value of these goods and then have that value subtracted. These amounts can add up and make a difference, especially if you’re in one of the higher tax brackets.
By donating to a charitable cause or foundation, you’ll be improving the lives of others, and also receive many personal benefits.