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Charitable giving is the act of giving money, time or goods to create positive change regardless of wealth or status.
Charitable giving can come in the form of donating to a food bank, financially supporting organisations on the frontline of the global COVID-19 pandemic or volunteering at a local community program. No matter how you choose to donate, charitable giving can help improve quality of life, strengthen communal bonds and elevate others.
Philanthropy is defined as love for humankind. The word itself is first found in the works of the Greek playwright Aeschylus more than 2,500 years ago, but the combined concept of “philos” (loving) and “anthropos” (humankind) existed long before the invention of the written word. From the very beginning, civilizations around the world were built with the idea that empathy—caring for and understanding the needs of others—was critical to shared survival and growth.
Modern philanthropy began to take shape in the middle of the 19th century with the trailblazing generosity of George Peabody, Andrew Carnegie and many others. The Scottish American industrialist, Andrew Carnegie (1835-1919), wrote a seminal essay about philanthropy in 1889. In “The Gospel of Wealth”, he argued that wealth should be distributed in a responsible and thoughtful manner, calling on other philanthropists of his era to distribute wealth for the public good. Over the ensuing decades, captains of the industry and the growing middle class combined their charitable giving powers to tackle social issues in impactful ways.
Modern philanthropy has seen many individuals use their collective charitable giving powers to address social challenges in transformative ways. NPT UK continues to collate data on the power of charitable giving and as our statistics highlight, the collective power of charitable giving is immense.
The benefits of charitable giving include Gift Aid for UK clients, additional claims for higher rate taxpayers and income tax relief for gifts of shares. For those who are subject to taxation in the US and UK, NPT Transatlantic provides a tax-effective dual-qualified donor-advised fund.
For more information on all the tax benefits of NPT UK’s donor-advised fund, visit our Tax Advantages page.
The main beneficiaries of charitable giving are the charitable causes themselves. However, there are a number of reasons that make it beneficial to the donor, too. Charitable giving not only makes you feel good, but it can also generate other positive effects. For example:
There are various ways to conduct your charitable giving and make a meaningful impact, including:
To find out more visit our What Is a DAF? Page.
For more information about Gift Aid, see our How Does Gift Aid Work? Page.
Leaving a charitable gift in your will to a Legacy Donor-Advised Fund (DAF) at NPT UK will reduce the administration of your estate and help your executors with time and costs.
A gift to NPT UK allows you to have the option to remain anonymous in your charitable giving if desired. Visit Legacy Services for more information.