One of the most critical steps in becoming a successful donor is identifying charitable giving myths. These myths are dangerous because they can actively discourage philanthropists and donors from trying to make a difference. Likewise, they can even prevent somebody from joining the nonprofit sector.
Even though the employment of fundraisers is expected to grow by 9 percent from 2014 to 2024, many people are still hesitant to become professional fundraisers due to these negative perceptions.
Here are some of the most common philanthropy myths out there.
Myth: My Donation Is Too Small To Matter
Your charitable donations are significant to the success of local nonprofits. Having various sources of support helps a nonprofit maintain its legitimacy and avoid potential financial issues. Nonprofits that rely on one large grant may not be able to survive if the funding source suddenly stops. Having multiple sources of support can help a nonprofit avoid these issues.
Myth: Fundraisers Steal
Unfortunately, this myth makes many talented individuals less likely to join fundraisers. The stereotype about fundraisers being lazy and hiding their wallets is also very harmful to the development profession.
Myth: You’re Just Giving Money Away
Besides money, philanthropists can also contribute their time, skills, and participation to the success of local nonprofits. For instance, volunteering can help a nonprofit grow its capacity and abilities. In addition to this, board service and pro bono can also help a nonprofit develop its capabilities. Before you start fundraising, it’s essential that you thoroughly research the various causes that you care about and the people that you can serve.
Myth: They Don’t Need My Help
Most local nonprofits in the US are small and grassroots organizations with annual budgets of around $1 million (or significantly less). About one-fifth of these organizations have a yearly budget of less than $50,000. Your monetary support can make a real difference to a nonprofit struggling with its financial situation.
Myth: Women Donate Less Than Men
Studies have shown that women play a significant role in philanthropy due to their various social and economic roles. For instance, according to statistics, women now make up half of all workers in the US. This is a significant increase from just over a generation ago when women only made up a third of the workforce.
Furthermore, these studies found that women are more likely to donate considerable sums with higher frequency than their male counterparts. In other words, women are just as likely to be philanthropic, if not more likely.