investing

Charity: time's-a-wastin

Saturday, Sept. 26
Posted 9 a.m. EDT

It seems that charities are not just losing money -- they're losing volunteer time. The Chronicle of Philanthropy reports that a study by the National Conference on Citizenship indicates 72 percent of Americans have cut back on the time they spend volunteering.

The report was based on surveys conducted in May of nearly 4,000 people. Of the respondents, 66 percent said that the recession has caused them to be more concerned with looking out for themselves. That's understandable behavior, but no less comforting to those charities who especially seek to provide aid during times of crisis.

But the news isn't all bad. Half the respondents said they gave food or money to a needy person, and 43 percent helped relatives. David B. Smith, executive director of the National Conference on Citizenship, says the shift in focus during the recession has been toward providing help on a more intimate level.

The study also found that those earning less than $50,000 per year were less likely to volunteer than those earning more -- 29 percent versus 51 percent. What would spur more people to volunteer? According to the survey, 24 percent said tax breaks and paid time off would do it.

Now that the recession seems to be over, perhaps people will become more generous with time and money again. Anecdotally, many directors of nonprofits say they have enough volunteers -- or even more than enough -- due to the tough job market. Job-hunters are often encouraged to volunteer to keep their skills up to date, but then are gone when the job market picks up. It's a delicate balance between money and time, to be sure, but right now it seems charity needs a commitment to a sustained donation of both.

There are many ways to leave a legacy.

Watch a video on how to check out a charity before you give.

Questions? Comments? E-mail Your_Wealth@bankrate.com

Read more Your Wealth blogs.

advertisement

          Connect with us
Product Rate Change Last week
1 Year CD 0.89%  0.01 0.88%
2 Year CD 1.01%  0.02 1.03%
5 Year CD 1.59%  0.07 1.66%
 
View Rates in your area Search
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

How can I pay myself first?

Dear Dr. Don, You often advise readers to "pay yourself first." It sounds like a fine idea. But I'm wondering how that actually should work. I'd like to know how much or what percentage of my income should be set aside... Read more

advertisement

Blog

Sheyna Steiner

Investing: Sometimes less is more

A sixth grade class played along in an investing throw down among college-level clubs and easily beat all their returns.  ... Read more

Partner Center
advertisement

Connect with us