3 steps to meaningful giving: A guide for millennials

What do you think of when you imagine giving to charity?

Maybe it’s dropping a five dollar bill into a basket during a church service, writing a monthly check to the local animal shelter, or tossing spare change into a red bucket around Christmastime. 

While all of those actions may still be great ways to give to causes you care about, there’s more to think about in 2024, especially for millennials. 

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This guide will help you navigate giving back, from determining your own “why” to exploring how you can make the world a better place.

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1. The benefits of giving

If you’re a millennial near or in your 30s, earning well, and no longer benefiting from typical deductions like student loan interest, charitable donations can be a smart way to balance out your tax return. In fact, when you give to qualified organizations, you can deduct up to 60% of your adjusted gross income (Fidelity Charitable).

Here’s a great resource you can use to determine how much you should give to impact your taxes. 

Donating to a charity you’re passionate about can also help you build connections with others who share your interests. Many charities host exclusive events, fundraisers, and volunteer opportunities for their donors. These gatherings provide a chance to meet and network with like-minded individuals, expanding both your social circle and professional network.

But giving is not just about financial or social benefits—it’s a chance to have a positive impact on the people and places around you. To do that, you need to find your “why.”

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2. How to identify your “why”

Choosing how and where to give can be overwhelming, but a good starting point is to reflect on the most important things in your life. 

• Zoom in: What’s going on in your immediate circle? Does your family have any health issues or challenges you could consider addressing through giving? Causes like cancer or Parkinson’s research are examples of personal causes you could support.
• Zoom out: What’s going on in the world? For those who enjoy travel, consider giving to environmental causes that protect the places you love to visit like a coral reef restoration project or a land preservation initiative. If you or someone you love has been impacted by a natural disaster, organizations like the American Red Cross or FEMA could be supported.
• On the ground: What are some causes that could use your help right now? If animals play an important role in your life, consider rescues or rehabilitation centers that have immediate needs like dog food or supplies. Maybe you’ve recently seen a GoFundMe for someone in need of an emergency medical procedure or a family who needs support after loss. You don’t have to look far for ways to have an immediate impact.

Once you’ve identified the areas that matter most to you, it’s time to find a specific project or organization to support.

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3. Selecting a cause

Consider whether you want to support a local cause or a global initiative.

• Local Causes: Supporting local charities can provide a direct impact on your community. Whether it’s a neighborhood food bank, an animal shelter, or a community arts program, local giving allows you to see the results of your contributions firsthand.
• Global Initiatives: If your interests are more global, consider causes that address widespread issues like climate change, education in developing countries, or international disaster relief. These contributions can make a significant impact on a larger scale.

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Tools that make giving easy

Once you’ve narrowed the scope of your giving, ensure that your chosen charity is reputable and transparent in how donations are used. Charity Navigator is a great resource, but generally, 501(c)(3) nonprofits are governed by strict operating standards that ensure proper management of funds, and you can trust organizations with this label.

Consider downloading the Givebacks app to take charge of your giving without having to take on more doing, spending, or tracking. Because doing good should be easy.

As a millennial, you have the opportunity to shape the future by supporting causes that reflect your values. Whether it’s through financial contributions, volunteering, or spreading awareness, your efforts can make a real difference. 

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