Why We Give To Charity

The video explores the history and evolution of philanthropy, from ancient times to modern-day practices. It highlights key figures like Andrew Carnegie and discusses the impact of economic conditions on charitable giving. The psychological benefits of donating and volunteering are examined, along with motivations and tax incentives for giving. The video also provides statistics on current trends in philanthropy, emphasizing the importance of personal causes and societal contributions.

Who was a key figure in encouraging wealthy Americans to distribute their wealth for the public good in the 19th century?

• Henry Ford

• Andrew Carnegie

• John D. Rockefeller

• J.P. Morgan

In 2020, charitable giving in the US reached a record amount. How much was donated according to the Giving USA Foundation?

• $400 billion

• $450 billion

• $471 billion

• $500 billion

What is one psychological benefit of donating to charity?

• Increased stress levels

• Reduced empathy

• Decreased social interactions

• Stimulated dopamine release

During economic downturns, what tends to happen to charitable giving?

• It remains stable

• It decreases

• It doubles

• It increases significantly

What new tax benefit was introduced for charitable donations in the year discussed?

• No new tax benefits were introduced

• A deduction up to $1000

• A deduction up to $300

• A deduction up to $500