There are plenty of opportunities
to give to good causes and there is also great scope in the UK for philanthropists
to give more. NPC’s recent report into ways to increase and improve philanthropy
(see link) reminded me that donors are not always motivated to give by the
impact they can make but often are encouraged to give by their peers. “Whether
giving a large one-time charitable donation or deciding on one’s annual giving
level, most people want to give in line with the perceived average amount.”
If you search giving on Google,
then the questions that come up such as ‘How much to give as pocket money?’ ‘How
much to spend on a wedding present?’ confirm that there are strong social norms
at play that mean we want to know what other people give. No charity is going
to be offended (or know) if you give too much or too little yet many donors
still want to make sure they are in line with the average.
So how much do other people give?
Well, if you are rich enough to
take the Giving Pledge then you are asked to commit ‘the majority of your
wealth’. For the rest of us, the expectation is that we give somewhere between
1% and 10%.
In Christianity the faithful are
supposed to give a tithe, which means a tenth of their earnings. In Islam, the
required charitable contribution is called Zakat and is 2.5% of your wealth
each year. In the Jewish faith, tzedakah, means giving away 10% of your income.
The Life You Can Save has a
calculator to help you work out 1% of your annual income (see link) and this is
the minimum amount we should all give suggested by effective altruist, Peter
Singer. There are other organisations promoting giving 1% including
Philanthropy Ireland’s ‘The One Percent Difference’ campaign. Their idea is
that anyone can afford 1% and the aim is to double the giving levels in
Ireland. “The idea is simple, it doesn’t matter who you are or what you do, we
all give the same – 1%.”
So to increase philanthropy some
role models giving more than 10% could be really helpful – especially when
unlocking the wealth of high-net-worth individuals whose giving in 2015 equated
to just 0.1% of their wealth (see link). But in the meantime, check your annual
giving and see if you can increase it. Because rather than fitting in with the
average, we should all seek to stand out in our giving.
Emma Beeston Consultancy advises funders and
philanthropists on giving strategies and processes; selecting causes and
charities; assessments and impact monitoring. Tell what social change you want to see and I will help you find
organisations already working to achieve this, who will make great use of your
financial support. www.emmabeeston.co.uk ; emma@emmabeeston.co.uk;
emmabeeston01
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