Is it Better to Donate to One Charity or Multiple?December 7, 2022
When you’re in the giving spirit during the holidays, you may wonder whether it is better to donate to one charity or multiple charities. While there is no one correct answer, we will explore which option may be best for you in this article. First, exploring the reasons you may want to consider donating this holiday season is a good idea.
Psychology Today reported the top reasons why people donate to charities. They include having trust that an organization is doing vital work to help make the world a better place, altruism as we have the desire to help those in need, social enjoyment to be a part of a community devoted to one mission, tax incentives to owe less money at the end of each year, and lastly, egoism as giving back makes people feel good about themselves.
Planning for the New Year: Considerations When Creating a Donation Plan for Yourself
When deciding how to donate this year, creating a donation plan for yourself is extremely helpful. Should you plan to contribute to one organization or charity or spread the amount of your donation to multiple organizations?
Donating to One Charity
- Your donation can go a long way. When you donate a more considerable sum to one organization you support, your gift can significantly impact the recipient, whether the charity or someone in need.
- You are only subject to one transactional fee. When you make a monetary donation to a charity or organization, it is common to be subject to a transactional fee. When you make one donation, you limit the number of times you’ll need to pay that fee, which is the same no matter what the amount is.
- You can become more knowledgeable about the one organization you are supporting and, as a result, can inspire and influence those you know to give back to the same charity. You can be an enormous force for good.
- You don’t get to support multiple organizations you may want to help; this option forces you to choose one.
- You have to say no to loved ones who may ask you to donate to causes they are passionate about supporting.
Donating to More than One Charity
- You can donate to multiple charities you want to support and help fundamental causes.
- You get to say yes to your niece or nephew raising money for a good cause through a fundraiser. You could be Aunt or Uncle of the Year.
- You still get those tax-deductible amounts at the end of the year (although it’s the same as if you made one big donation).
- Your donation doesn’t go as far when you split it up into multiple charity recipients.
- It can add to more stress as you’re trying to do too much rather than trusting that any way you give back is good enough!
- You may struggle to say no since people see you as someone who gives back to everyone.
Whichever approach you take, here are some steps to consider:
- Make a plan for yourself and stick to it.
- Consider giving collectively with a group (commonly known as giving circles).
- Research the charity you’re choosing for your gift.
- Consult a professional if your donation is on the larger side.
Contact Us Today
At Vehicles of Change, we know you have a surplus of options for choosing a charity to give back to, so we invite you to visit our Why VFC page to learn more about our work. Not only are we the nation’s most extensive affordable car ownership program, but we also work with formerly incarcerated individuals to help them get a second chance at life by providing them with job skills through our automotive training program, Full Circle Auto Repair and Training Center, to become advanced auto technicians.
Whether you’re passionate about helping the low-income community of Baltimore gain access to better-paying jobs or believe in helping formerly incarcerated individuals gain access to a better life, Vehicles for Change may be an excellent option for your donation. Give us a call today at 855-820-7990.