What percentage of your income do you donate?
The title says it all. How much do you monkeys donate to charity? What do you guys do to give back to society?
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@ me next time you want to steal my thread and change one word.
I am single, have no kids that I am aware of and expect to die relatively young, so might as well get that warm and fuzzy feeling now. So I aim for 20-50% depending on the results of the year (DAF and funds foundation are key to smoothing it out). My preference is smaller, off the beaten path organizations that have interesting, high impact ideas.
Wow, all sorts of questions but I will just let your comment stand as it is. Well done. I used to donate a lot to my church, I stopped doing that... that is all.
I’ll ask it then. Why?
bad idea goldie delete delete delete
In marginal terms, around 35%
Taxes dont count
Only about a couple hundred per year. Low, yes, but daddy has debts to pay.
Mid single digit percentage points of my gross salary, to alma mater (UG and MBA) and a few others including science and wildlife related foundations, children's hospital etc.
The only reason you should donate to charity is for the tax deductions. If you think upper-middle class people donate to charity to give back to society, you're really naive.
What's naive about helping others?
Can you give me a hypothetical scenario where it would make economic sense to donate for a tax deduction?
Yep, my family only donate for a tax deduction. Mostly to the theatre
Or you're just cynical. I know plenty of people who give back because it makes them feel good, or it's a cause they believe in. Maybe 60% of the reason they donate is for the tax benefits, but that doesn't eliminate that people genuinely want to do good.
Not everyone thinks amassing absurd amounts of wealth is a goal in and of itself. In fact, it's hard to imagine a decent human being who does think that. For financial security, because they view money as the counter which defines success, for a Carnegie "Gospel of Wealth" reason, etc... but it takes a real idiot to think money is of value in and of itself (which, of course, it isn't).
as someone who manages money for upper middle class people, this is patently false.
you sir, are naive.
I don't think the two need to be mutually exclusive. You can give to charity for tax purposes and to help society.
I don't wanna be that guy, but I donate nothing. Although I am only one year out of college and want to help various causes, I would rather put in my minimal free time rather than money that I need to help my parents and relatives.
I donate what I can atthe moment. But it's a great charity called Share Tanzania.
It's a guy from England that moved to Tanzania to start a children's home and is now feeding an entire village there it seems!
So I try to do as much as I can as I know al the money is going to a good cause. As opposed to a lot of charities that give a big percentage of money they get to cover "admin costs".
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