After Thanksgiving, there are a series of days that highlight the Holiday season, like Black Friday and Cyber Monday. Giving Tuesday sounds similar to these special dates, but it has a very distinct focus. Instead of offering special deals and sale prices to encourage people to buy material goods, Giving Tuesday is just about giving what you can to worthy causes.
This year on Giving Tuesday, Foundation 99 is on a mission to raise $99,999 in donations from our community. We’d love it if you can help us meet our goal, but even if you’re unable to, we’re excited to share with you a bit about our cause and what Giving Tuesday really means to us.
What is Giving Tuesday?
The holiday season is meant to be a time of celebration and togetherness. However, between the pressure to find the perfect gift and the seasonal deals available, it can feel like it’s merely the ‘most wonderful time of the year’ for shopping.
Giving Tuesday was created as a reaction to post-Thanksgiving consumerism. Set on the first Tuesday after Thanksgiving, this is a day of donating where people are encouraged to give as much as they are comfortable with to any cause of their choice. It’s a wonderful way to spread joy without resorting to materialism.
Since it first began in 2012, Giving Tuesday has greatly expanded and evolved. Giving Tuesday has also become internationally recognized and has helped nonprofits around the world raise money. Additionally, people are now encouraged to contribute what they can, even if it’s not a monetary donation.
Volunteering is a very popular form of acknowledging this day of charity. However, it’s not limited to formal acts of generosity. Giving can mean that you may simply help someone in need, whether you know them or not, make a kind gesture, or cheer up someone who is down. Any way that you can embody the idea of doing something good is a way to participate in Giving Tuesday.
Why choose one day to encourage donations?
Donations are, of course, welcome any time of the year. However, there are a few reasons why many organizations choose to emphasize Giving Tuesday and encourage donations of time or money on this day.
For instance, Giving Tuesday is timed very carefully to coincide with a part of the year when people are already primed to give. In fact, more donations are given in December than in any other month. There are two main reasons for this: the infectious spirit of the season and end-of-the-year tax breaks.
However, no matter what the motivation is, more people give during the holiday season. Giving Tuesday just presents a specific day to channel that enthusiasm for charity and helps direct and funnel it towards nonprofits that rely on this funding.
Giving Tuesday also presents a great opportunity to spread awareness. Even if people decide not to donate, they tend to be more receptive to the messaging. This means that it’s a great time to acquire new newsletter subscribers who may become future contributors down the line.
How effective is Giving Tuesday?
Giving Tuesday has become a major source of funding for many non-profits, and the numbers continue to grow every year. In the United States alone, over $3.1 billion was raised on Giving Tuesday in 2022. This is a 15% increase from the amount that was given in 2021, and a 25% increase since 2020. As the recognition of this day only continues to grow each year, there is a high potential for more donations and involvement in the future.
How is Foundation 99 Participating?
Foundation 99 is committed to helping people rise above poverty and debt and live financially free. Like with many nonprofits, we use Giving Tuesday as a major source of funding for our mission. The donations that we receive on this day help sustain our work year-round. That’s why this year, we are asking for donations to be given by anyone that is able to contribute.
Any monetary gifts that we receive will be taken and put toward the costs of financial coaches, resources, and loans for people who are in need and have been historically ignored. Our overall goal is to raise $99,999. You can contribute at this link.
Why contribute to Foundation 99 on Giving Tuesday?
Money is an issue for most Americans. In fact, 7 in every 10 people living in the United States experience stress due to their financial status, and 28% of those older than 55 haven’t saved anything for retirement. For the younger generations and people of color, the statistics are even more concerning. For instance, 42% of millennials and 83% of Latinos in America have nothing saved for retirement.
We use an education-based approach that helps people learn how to plan their savings and expenses and assists them in preparing for the future. Our aim is to help improve financial literacy and reduce debt for those that we reach.
The holiday season is a time when money is on most people’s minds. There’s a lot of pressure to spend, spend, and spend some more on the perfect gifts and experiences. It’s an opportunity for debt to increase and finances to be spread thinner than ever.
That’s why our cause is all the more vital. We hope that this year on Giving Tuesday, you’ll choose to share some holiday spirit with us and help our mission to teach people healthy financial habits and give them the tools necessary to escape from debt.