The Most Common Myths Surrounding Philanthropy

Philanthropy has been around for a long time. People have always felt inclined to make a mark on the world, usually in a more positive light. Philanthropy is one way to do just that.

However, it's important to note that there are many myths surrounding philanthropy and charitable giving. Some of these myths and misconceptions have even begun to discourage others from trying to make a difference. Here are the most common philanthropy myths and why they are inaccurate.

Myth: Small Donations Don't Matter

Many people mistakenly believe that small donations don't make a difference. In other words, because they cannot donate large sums of money, they opt to give nothing, mistakenly thinking that a small amount won't make a difference.

It's essential to remember that every donation counts. This is especially true when combined with dozens (if not hundreds) of other contributions. Never let this fear be the reason holding you back from donating.

Myth: Only Cash Donations Matter

Countless people believe that the only way to make a difference is through cash donations. While it is true that cash donations are more likely to help create lasting change, there is no fundamental limitation when it comes to giving back.

Donating your old jacket may not change the world - but it could make a difference to somebody in need of warmth. There are countless ways to give back, even when dealing with limited funds. They can donate their unwanted items, their skills, and their time. All of which can and frequently do make a difference.

Myth: Younger Generations Don't Give Back

Another common misconception is the belief that younger generations don't give back. Typically, people assume this because they are under the impression that younger generations do not care. However, countless studies have shown this belief to be false.

Millennials may be less inclined to provide ongoing support to a single charity. Instead, they are more likely to donate to causes that matter to them. Likewise, they are more likely to donate supplies, items, and their time alongside any funds they may have available. This makes it harder to track their contributions, leaving the impression that they give back less than they do.

Myth: Women Are Less Philanthropic

Perhaps this belief was true once upon a time. However, these days women make up half of the workforce. Not only are women making their incomes and frequently making the financial decisions for a household, but they are more likely to donate. According to one research study, women are more likely to give money than their male counterparts. Furthermore, they are more likely to contribute more significant sums.

This tells us a few things. First, one should never assume that women are disinclined to donate. Second, any fundraising efforts should include promotions geared toward women and men.

Myth: Taxes Over Charity

Do the words "Oh, I don't need to donate to that charity - that's what my taxes are for" sound familiar? They might, as this is yet another common myth surrounding philanthropy. Many people believe that by paying their taxes, they are putting enough effort (and money) into nonprofits that matter.

This is false. Taxes support public services, which is essential for them to do. Yet they frequently don't support local charities. They are even less likely to support communities worldwide or causes that matter to you. If you want to make a difference in the world, the best way to do that is by donating to charities that have meaning.

Myth: There's No Point in Trying Until Change Happens

Yes, sometimes systematic change is required to make a difference fully. However, that should never discourage people from trying. More importantly, donating now may make a difference to those dealing with a current issue. This can be done alongside working for lasting change. The two are not mutually exclusive.