Giving to charity is such a fulfilling feeling. You’re helping someone or a group of people who are less fortunate than you. Whether it’s due to income, health or special situation, they need your help. However, did you know that monthly giving benefits both you and the charity more than random contributions?
There are many benefits to donating to charity monthly for both you and the organization which we’ll go over in this article.
How it Benefits the Charity
The first thing we’ll cover is how monthly contributions help the charity. Obviously, it’s more than just more money or time given. Below, we’ll go into greater detail on how having a contribution each month will help that charity organization.
Predictable Income
When running a charity, the scariest thing is not knowing when you’ll have money coming in. Typically, the goal of the charity is to help those in need. Without knowing if they’ll have money at any given time, they can’t help as much as they’d like.
Your monthly contribution changes that. They know they’re getting money every monthly which means they know they’ll have some incoming coming in. It allows them more financial flexibility and comfort.
Can Budget Better
A huge part of any organization is being able to budget themselves properly. However, when there’s no telling how much money you’ll be getting every month, it’s hard to create an accurate budget. It’s difficult to host events and market the organization without knowing the budget.
Monthly contributions changes things up a lot for charity organizations. They’ll have an idea of the minimum amount of money that’ll be coming in that month which helps determine what they’ll be able to afford. This helps the organization get other to become aware of the charity and donate as well.
Monthly Givers Tend to Give More
While this is a generalization, it makes a lot of sense: people who are monthly givers tend to give more to the organization. We’re not just talking about over time either – their single monthly payment is higher than the single payment of another donor. Why is this?
When someone is giving to an organization monthly, they stand behind that organization whole heatedly. Think about it, would you give monthly to something you didn’t believe in? These monthly donors want to make sure the organization has the funds they need to help those in need.
More Year-Over-Year Donations
The only problem with being a one-and-done donor is that it’s a one-time payment. However, monthly donors will be contributing for years to come. If the organization could earn more monthly donors year-over-year.
When an organization has more year-over-year donors, they’ll be able to budget for more efforts to earn more donors. The more donors they have, they more money that will be coming in to help them assist those in need.
How it Benefits the DONOR
At this point, you might be thinking, “Of course, all of these facts make sense. Having a monthly donation is going to benefit the charity greatly.” However, did you know that monthly donations could help you out in ways other than “feeling good”. We’ll go over a few ways you’ll benefit by giving monthly contributions to a charitable organization.
Easier for You to Budget
When you give to charity regularly, it can become difficult to budget your donations. However, if you donate on a monthly program, it can become much easier. This allows you to give a contribution each monthly that fits within your means.
Not only that but it helps you keep track of all your charitable contributions during the year. This will help you when it comes to tax time and write offs. Speaking of which…
Tax Write Off
A great part of giving to charity is that you can write them off in your taxes and monthly contributions are no different. You’re going to want to do this because it helps you get your money back when you give it to a charity: it’s a real win-win situation.
Monthly donations make it easier to keep track of how much you’ve given throughout the year. When it comes to tax time, you’ll be able to write off the contributions without wondering whether you forgot something you gave throughout the year or not.
Bigger Charitable Impact
One of the best benefits of monthly contributions is that you’ll have a bigger charitable impact. You are making regular contributions, creating a compounded impact on the organization. Each month, they’ll be getting money which allows them to help more people. The impact you’re making on so many people’s lives is unbelievable! That’s a feeling that can’t be topped.
It’s Never Been Easier to Support
Supporting your favorite charity has never been easier. With monthly contributions, you can make a huge difference in the organizations and many people’s lives. It’ll also help you budget easier and write off contributions in your taxes. There’s no losing when you donate with monthly contributions.