What are the reasons why people donate?
- It is never easy to get people to spend money without interest and for nothing in return.
- On the other hand, online fundraising and the speed with which it is growing has proven just the opposite.
- At Teacher Effect, we've had a lot of people donate to personal and impersonal causes that they might not have anything to do with.
- This shows that compassion, empathy, and community, are at the heart of all charitable endeavors.
- However, it is important to note that philanthropy is no longer conducted in the same way it used to.
- You'll find fewer recipients cutting large checks for one reason.
- With technology in the picture, it is more accurate now, and it is crucial that non-profit organizations and all other crowdfunding activists in India align with the mindset of today's generation and its relationship to charities.
In this article, we would like to discuss some of the main reasons why people donate so that you can apply certain strategies to the crowdfunding campaign in India to attract donors to your initiative.
Public good.
- Although they may not be involved in writing big checks, they certainly want to participate in activities that will have a long-term benefit to the community. For example, young people today are becoming more aware of the use of plastic bags, and many are encouraged to give it up.
- This shows that they care about being part of the bigger picture of doing social good.
- Nonprofits need to apply this thought process to attract people interested in their cause.
Competitions and incentives.
- Nonprofits should encourage a competitive environment to motivate millennials to donate .
- Tangible incentives like free samples, goods, invitations to events, etc. are useful incentives.
- Millennials' other big takeaway for philanthropy will be recognized by shouting out on social media.
Tax exemptions.
- People always want to find a way to reduce their tax burden, and making donations to good causes is the noblest way to do that.
- Most NGOs and crowdfunding platforms offer donors an opportunity to take advantage of a Section 80g tax credit when donating to a verified NGO.
- Whether they donate to medical causes, education, the environment, or anything else, it is an incentive for them to combine charity with tax savings.
The effect of giving companies.
- Employees are strongly influenced by the giving patterns of their peers and co-workers.
- According to the 2015 Millennium Impact Report, 46% would be more likely to donate if a co-worker also did so, and 27% would do so if a senior employee of the organization suggested it.
- In fact, 11% chose to cut donations from their paychecks themselves.
- 30% of donations are seen on online platforms like Effect guru.
On a mission to encourage crowdfunding for financial sustainability, we hope this article will help you understand philanthropy in this age.
