How to Become a Philanthropist

by Contributor
Federally tax-exempt organizations receive this designation from the IRS.

Federally tax-exempt organizations receive this designation from the IRS.

Being a philanthropist is about giving back to the community and its people. This not only helps them but makes you feel good. Often people think of someone wealthy when they think of a philanthropist, but anyone can give back regardless of income bracket. You can get involved with charity by giving time or smaller amounts of money, so read on to discover how you can become a philanthropist.

Research various charities to determine which ones you want to become involved in. There are local, national and global charities so you can start wherever you feel comfortable.

Find out ways that you can become involved with each charity you have chosen. Larger organizations may have local chapters you can go to and volunteer your time at. Call, visit or look online for details.

Figure out how much you can give. Again this can be money or time. Start small either way if you are unsure how much you can spare. When giving money you can start as small as one percent of your total income and work your way up.

You can find a few dollars to give. Think about what you spend in a week and notice where things could be cut out. Even setting aside your coin change can accumulate a few dollars to donate to the charity of your choice.

Become active with your chosen charity or charities. Send a few dollars to the American Heart Association, spend time with children struggling in school, go to the local library and volunteer.

Start giving today and watch how your life changes the more you become involved. Often the more you give of yourself and your money the more that will come into your life. This opens you up to become increasingly active as a philanthropist whether with your time, your money or both.

Tips

  • Giving 10 percent of your total income is a common number to aim for. Start small to make sure you can afford it, and then go up one percent at a time over a year.
  • When you decide to give money to charity that money is tax deductible so keep track of it for when you do you taxes for that year.

Photo Credits

  • BananaStock/BananaStock/Getty Images