Giving Back ?
Contractor · Denver, CO · Member since 2009 · 399 posts · 166 votes
I've read in a couple of places that persons who have "made it", strongly recommend giving back. They have said that by giving money away, it has come back to them many times over. I haven't read any specific examples and was wondering if anyone could attest to this or share an example.
Couple of situations I could see would be as follows:
1. Donate to a political campaign.
2. Donate to the charity of a company that you wish to do business with.
3. Donate to a charity in return for marketing, networking opportunity.
4. What about donating time as in volunteering?
Some of these raise ethical questions as well, but that's not necessarily the point of the question. I believe in giving back, but the opportunities are endless and I think focusing on opportunities that could be symbiotic would be better. Any thoughts?
Very good question and topic. The Bible for those that believe and even for those who do not. It is better to give than receive. I have received so many blessings for having a giving spirit. I give with no expectations of returns. But, they begin to come and you just continue to do what you do. I volunteer for organizations that I believe in. I help other investors try to get where they would like to be, not where I am because the level of expectation is different for each individual. Giving heals the soul. You find a cheerful giver and you have found a BLESSED INDIVIDUAL.
To me "giving back" means giving freely to organizations who's missions you like. "Giving" with an expectation of some return isn't really giving. Give to groups you support and use the exposure and opportunities to make contacts.
Giving back should be the sole reason you do something charitable, whether it's donating money or donating your time/knowledge/skills.
If you happen to make a financially beneficial connection from it, consider it "gravy."
One of my friends met his wife while doing volunteer work. I'd say that that is quite the return.
Yes, you must give with no expectation of "return" or it is not truly giving. You will reap so much more benefits if you just give freely. that is just my opinion.....
Giving back to me is donating my time to a cause that I truly believe in and am passionate about.
Very good question and topic. The Bible for those that believe and even for those who do not. It is better to give than receive. I have received so many blessings for having a giving spirit. I give with no expectations of returns. But, they begin to come and you just continue to do what you do. I volunteer for organizations that I believe in. I help other investors try to get where they would like to be, not where I am because the level of expectation is different for each individual. Giving heals the soul. You find a cheerful giver and you have found a BLESSED INDIVIDUAL.
Regarding Tom's reference to Richard Carlson's book, I think he combined two of his book titles: "Don't Worry, Make Money" and "Don't Sweat The Small Stuff...And It's All Small Stuff". Both are good reads. Regarding giving to charities or causes, I agree with the sentiment that giving with no expectation of return is the only true charity.
Thanks for your input guys. I'm not sure I phrased my question correctly in the first post. I'll have to give it some more thought as to what I'm trying to ask. Maybe it's not necessarily giving back as in charity, I do a little bit of that, mostly for the ACS, but tilting the scales in your favor. Hmm... not sure on this one. Maybe I was just looking for examples where giving with no intention of receiving resulted in some wonderful outcome like Solid Returns identified. I'll give it some more thought.
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My experience with this is that the person who assures you that you will get a great reward is usually the person who is trying to talk you into donating directly to him.
Give back to the community because you feel it is the right thing to do. Give because it feels good to you.
All my charitable contributions go directly to local charities where I can see what the money will be used for. I don't trust the big national guys to not use my donation to pay for a nice expensive retreat for their executives.
That's a great point P NW. I still have a 9-5 with a very reputable local GC. They donate every year and it's usually to a local group who they can help financially and through volunteerism. It makes a connection and allows them to see the results of their efforts.
Supporting charities can be a great for PR. PR helps build your brand value but doesn't always translate into calculable ROI.
Giving back refers to the Biblical directive of Tithing = as everything comes from God, He has directed mankind to give back 10% of what they earn to Him. His promise is whatever is given back to Him will be multiplied and returned to the Giver a hundred times over. He wants people to be prosperous - In the beginning man was told to go forth and multiply. This pertains to money as well. In one of Jesus' parables about the talents, the one that did not multiply his one talent was severely punished. I have also posted something similar to this in the off-topic area concerning the Biblical Principles of Prosperity.
Yup, that's certainly what religious leaders would want you to believe, wouldn't they?
You know, it's possible that there are people who don't believe in God, but who still believe in "giving back". In fact, as far as I can tell, those individuals who donate the most money aren't religious at all...
My understanding was that 10% of all income was to be given back to God. The first tenth was to be given to the place I saw God’s work being done, and given cheerfully and anonymously.
Not long after that I became a single parent with no support, no help of any kind. I struggled to make ends meet, and kept thinking of that ten percent. I had so little coming in, that I figured giving $3.50 every couple of weeks wasn’t going to hurt me.
An office of the organization (not a church or religious group) that I decided to give to was on my way home from a part time job, so to save on stamps, I stopped each week and handed them the money. For several months it stayed at that, then started to grow by nickels and dimes. It was over a year later before I told them my name.
We did survive, and as a direct result of regular tithing plus planting a little more at times, both kids graduated from top of their field colleges and have successful careers. The first one did it entirely on scholarships and grants, and has no loan debt. The second does have loans to pay, I do not.
Now I am working toward buying my third house. When I sold my properties, and recently my first house, I gave ten per cent of the proceeds to that same organization.
We went from giving $3.50 every two weeks 30 years ago to being able to give over $12000 anonymously one day to that charity.
Yes, I absolutely attribute my successes, our successes, to tithing. I did not do this on my own.
To answer your question, I had no expectation of a return for myself or kids, but there were times I had to move fast to get out of the way so I wouldn't be bowled over by that which was given us.
Wouldn't you agree we received some pretty wonderful Solid Returns?
Emilio, IMO, giving back is a charitable position. Giving money to a political campaign is not a charity, and become an issue of buying influence at some point.
And, IMO, giving on your number two and three is not giving back, nor is it a donation as it's clearly done in anticipation of a reward and actually against the law if a deduction is taken (I'll let Charles Perkins address that if he likes of sees this).
That reminds me of a time I was in a car dealership buying a new car and there was a minsiter who was talking about a purchase as well. The minister was suggesting that the vehicle be given to him as a charitable contribution, taking the tax advanage and he would make up the difference privately and the agency would have great PR with the church members. I was close enough to hear the whole thing and looked at the owner with my chin on the floor, and the owner declined the offer! Purely illegal! But, such things a done.
Your last point of time can certainly equate to giving back. That's what I'm doing here, if you check with anyone here, you'll find that I have not entered inot any business deal with anyone here, I'm not here for business purposes, only to provide my opinions and advice to help other get started and may be fine tune their business. I have no expectation of doing any deal with anyone, and most likely, never will, at least I have no plan to enter into any deals.
As to the community you live in; I was very active in my community as a volunteer. I must admit, I knew that some of my activities were likely to turn into a business relationship, for example, as a Commissioner of the Public Housing Authority, I was "exposed" to Realtors on a different level without anticipation of us doing business or any requirement to do so, but from that, a few sought me out to do transactions since they had met me in that capacity. No favorites, just that you are giving your time. As a volunteer for the Red Cross, I assisted many who would not be in any position to approach me on any business transaction, the same thing with a local Victims Shelter, A Homeless Shelter, Habitat for Humanity and the list goes on....
Being in the community without wearing your professional expectations on your sleve puts you in the public eye. While I know that some of my business relationships stemed from such activities, it was an unintentional aspect of simply being out in the public and being active in the community. Not only is it important from a business standpoint, it is also a civic responsibility.
Unintentional benefits or unforseen benefits as mentioned above. An example. Say you are active in a small community and there are four other larger landlord investors in your small town, but you're the most active in community affairs and known to do so without anticipation for any business back to you. Now, let's say an attorney gets some property dumped in his lap from an estate. The new owners don't live in town but want to rent the properties or sell them.....and he calls you! There is an element of trust that was established in his eyes over the alternatives due to your community involvement. You'll never know when, where or how you'll be repaid, but you won't be if you don't give.
Lastly, and more importantly is how helping or contributing will effect you. You'll feel better about yourself if you know you made an attempt to assist and made a difference, especially if you did so knowing you would not be compensated. I know that I have changed many lives and that those who benefited could never "pay me" for what I did...fact is, I wouldn't trade that for any amount of money!
There are many reasons to give. In some cases it might be as a way to bring about a profitable relationship. It could be charitable only with no expectation of any gain. It could be political with the hope of influencing an election. For many giving is a way to have some tax deductions. I'm sure that there are other reasons as well that people give.
In order for a gift to be ta deductible it must be given to a 503c non-profit. No gift to a political organization or government agency is tax deductible.
The expression "giving back" usually applies to those that have been successful at something and want to give money, time or both to those just getting started. I apply this to myself by looking at ways that I can help newer investors succeed at in investing in RE.
It is pretty hard to really identify this, as true "giving" implies keeping no account of the gift - which means that if anything good happens in return, you can 'sort of' attribute it to the giving, but as that is not really the point, it is usually not done.
I believe that I have benefited from giving, but the benefits don't directly relate to the gift.