Transcript Learning to Give

Personal Finance: Another Perspective
Your Future 1:
Learning to Give
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Objectives
 A. Understand the five myths of giving
 B. Understand what the scriptures say about
money and giving
 C. Understand the principles of wise giving
 D. Understand why we should give
 E. Understand the basics of wise giving
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Case Study #1
 Data 1:
• You are sitting at home and the phone rings. It is a
person soliciting donations for an organization that
you have never heard of. While you don’t want to
be rude, this is not one of the charities that you
choose to donate to. What do you do?
 Data 2:
• The difference this time is you are aware of the
charity, “The World Wildlife Fund” and would like
to know more. Where do you get information on
the charity, their goals, programs, or the quality of
their giving?
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Finding Information on Charities
 One of my favorite charity websites is Charity
Navigator
• http://www.charitynavigator.org
• You can log in for free
 They can give you lots of information about various
charities which file Form 990 with the IRS
• However, they do not include religious
organizations listed as “church or convention or
association of churches” which are exempt from
filing Form 990
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Charity Navigator
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Charity Navigator
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Charitable Giving
Is “giving” a one-time event or a Christ-like
attribute?
 Elder Mark E. Petersen commented:
• Instead of taking from our fellowmen, we must
learn to give—to be good Samaritans in very deed;
to share with our less fortunate neighbors, and in
reality show love for our fellowmen. So He said:
“… remember the poor, and consecrate of thy
properties for their support. … And inasmuch as ye
impart of your substance unto the poor, ye will do it
unto me” (D&C 42:30-31) (“Honesty, a Principle
of Salvation,” Ensign, Dec. 1971, 72).
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The Visit to Taz Murray’s Candy Store
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Life is Like Taz Murray’s Candy Store
 We all have our little bags of candy, the experiences
we are to have while here on earth
• We have been given instructions as to what is good
and bad—we have agency
 If we choose wisely, we can enjoy the good
• If we fail to choose wisely, we are accountable as
there are consequences for our actions
 And interestingly, the more we share, the greater will
be our joy later on
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A. Understand the 5 Myths of Giving
 1. Giving makes us poorer
• While in giving we have less financially initially, it
really makes us richer in the long term
• Givers are happier. Research has shown that
happy people make more money, have better
marriages, and contribute more to society
• Givers are healthier. Research has shown that
when people are happier, they put less stress on
their bodies and live longer
• Givers are leaders. Research has shown that
those who give are perceived to be leaders by
those who observe. We are all leaders!
• (Arthur C. Brooks, “Why giving Matters, BYU Magazine, Summer 2009, p. 25-28)
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Giving Myths (continued)
 2. People are naturally selfish
• People are selfish yes, but not naturally selfish.
People are unnaturally selfish—we learn selfishness
• Research as shown that when we are at our best
selves, in equilibrium, where we are supposed to
be cognitively, neuro-chemically, and
spiritually, we are a giving people (Ibid.)
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Giving Myths (continued)
 3. Giving is a luxury
• Giving is not a luxury--it is a necessity. It is the
critical first 10%--not the last 10%
• And this is not just from a spiritual point of view
either
• And if we want to do better and to be better,
we must learn to give
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Giving Myths (continued)
 4. If the government would do its job
correctly, we would not need to give
• The day the government does all the giving in this
country is the day we become poorer, unhappier,
and unhealthier (Ibid.)
• We must continue to take our place as givers
and support the communities and people who
need what we can give
• We need it as much as they do!
• “When ye are in the service of your fellow
beings, ye only in the service of your God”
(Mosiah 2:17).
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Giving Myths (continued)
 5. You must have money to give
• Giving doesn’t depend on the checkbook, but on
the heart
• What you do is more important than what you
have
• I believe that if you don’t give when you are
poor, you will not give when you are rich
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B. Understand the Scriptures
on Money and Giving
•
The scriptures give good counsel on money
and giving?
•
•
•
It is easier for a camel to go through the eye of a
needle than for a rich person to enter the kingdom
of God (Mark 10:25).
For where your treasure is, there will your heart
be also (Luke 12:34).
For what shall it profit a man, if he shall gain the
whole world, and lose his own soul? Or what
shall a man give in exchange for his soul? (Mark
8:36-37).
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Money and Giving (continued)
 Therefore take no thought, saying, What shall we eat?
or, What shall we drink? or, Wherewithal shall we be
clothed?
(For after all these things do the Gentiles seek:) for
your heavenly Father knoweth that ye have need of all
these things.
But seek ye first the kingdom of God, and his
righteousness; and all these things shall be added unto
you (Matt 6:31-33).
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Money and Giving (continued)
 What about Christ and his parables
• How many of his parables were about money (or
property and wealth)?
• It is no different today than it was then!
Matthew (8 of 10)
The hidden treasure
The pearl of great price
The draw-net.
The unmerciful servant
The laborers in the vineyard.
The two sons
The ten virgins
The talents
Luke (9 of 12)
The two debtors
The good Samaritan
The importuned friend
The rich fool
The lost piece of silver
The prodigal son
The unjust steward
The Pharisee and the Publican
The ten pieces of money
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Money and Giving (continued)
 What about other comments on money and giving?
• Money is the way in which we express our
aspirations, our dreams, our ideals. Money can be
used to build up or to tear down, to serve or to
dominate, to liberate or to oppress (Will Saunders).
• Money doesn’t change us. It just reveals us to
ourselves (Anonymous).
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C. Understand the Principles
of Wise Giving
 There are a number of principles of wise giving
that can help us as we learn to give
• 1. We are to give out of love
• We are to give out of gratitude for all that God
has done for us. Paul writes:
• And though I give all my goods to feed the
poor, and though I give my body to be
burned, if I have not love, it profits me
nothing (1 Corinthians 13:3).
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Principles of Giving (continued)
 2. We are to give sacrificially
• Ours is a “sacrificial” religion
• A religion that does not require the sacrifice of
all things never has power sufficient to produce
the faith necessary unto life and salvation
(Joseph Smith, Lectures on Faith, comp. N. B.
Lundwall, Salt Lake City: Bookcraft, n.d.), p.
58.
• C. S. Lewis wrote: “If our charities do not at all
pinch or hamper us, … they are too small. There
ought to be things we should like to do and
cannot do because our charitable expenditure
excludes them” (Mere Christianity [1952], 67).
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Principles of Giving (continued)
 3. We are to give wisely
• We are to give within our capacity to give.
• King Benjamin counseled: “And again, I say
unto the poor, ye who have not and yet have
sufficient, that ye remain from day to day; I
mean all you who deny the beggar, because ye
have not; I would that ye say in your hearts that:
I give not because I have not, but if I had I
would give (Mosiah 4:24).
• And see that all these things are done in wisdom
and order; for it is not requisite that a man
should run faster than he has strength. And
again, it is expedient that he should be diligent,
that thereby he might win the prize; therefore, all
things must be done in order (Mosiah 4:27).
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Principles of Giving (continued)
 4. We are to give of our abundance
• There is a different type of accounting in heaven,
not of dollars and cents, but of our capacity and
willingness to give
• And he [Christ] looked up, and saw the rich men
casting their gifts into the treasury. And he also
saw a certain poor widow casting in thither two
mites. And he said, Of a truth I say unto you,
that this poor widow hath cast in more than they
all: For all these have of their abundance cast in
unto the offerings of God: but she of her penury
hath cast in all the living that she had (Luke
21:1-4).
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Principles of Giving (continued)
 5. We are to give freely according to what we
have been given
•
We are to give of our own free will
• And again Alma commanded that the people of
the church should impart of their substance,
every one according to that which he had; if he
have more abundantly he should impart more
abundantly; and of him that had but little, but
little should be required; and to him that had not
should be given. And thus they should impart
of their substance of their own free will and
good desires towards God, and to those priests
that stood in need, yea, and to every needy,
naked soul (Mosiah 18:27-28).
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Principles of Giving (continued)
 On the subject of giving, Elder William R.
Bradford commented:
• It is not the amount of money that we donate to the
Church or others that matters to the Lord. Rather it
is whether we give of our abundance or of our
living. We should give until it is a sacrifice to give
(William R. Bradford, “Words of Jesus: Riches,”
Ensign, Feb. 2003, 52).
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Principles of Giving (continued)
 On the subject of fast offerings, President
Spencer W. Kimball said:
• Sometimes we have been a bit penurious (stingy)
and figured that we had for breakfast one egg and
that cost so many cents and then we give that to the
Lord. I think that when we are affluent … we
should be very generous and give, instead of the
amount we saved by our two meals of fasting,
perhaps much, much more—ten times more where
we are in a position to do it. I know there are some
who couldn’t (In Conference Report, April 1974, p. 184).
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Principles of Giving (continued)
 Statistics on Charitable giving (1991 data)
• Charitable giving as a percent of income:
• Individuals earning 20-30K gave $1,207 or 4.8%
• Individuals earning 30-40K gave $1,318 or 3.8%
• Individuals earning 50-100K gave $1,837 or 2.5%
• Why did those who earned more money give less
than half, in percentage terms, as those who
made less?
• Why should our giving decrease as our blessings
increase?
• Although the data is old, the results have not changed
much in the succeeding years
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Principles of Giving (continued)
What has been the Lord’s counsel on giving?
• The prophet Alma recounted:
• And they did impart of their substance, every
man according to that which he had, to the
poor, and the needy, and the sick, and the
afflicted (Alma 1:27).
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Principles of Giving (continued)
 And this is entirely from the book of Bryan
(this is my opinion only)
• Think about giving in percentage terms, rather than
in dollar terms
• Tithing is easy, it’s the other contributions that
are hard
• Put those in percentage terms as well
• That way Heavenly Father will know that
regardless of how much or how little you
are blessed financially, your giving will
always be the same
• Don’t let your giving decline as your income
increases!
• In fact, over time it should likely increase
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Principles of Giving (continued)
 President Hinckley commented:
• You know, as I know, that when you pay your
honest tithes and offerings, the windows of heaven
are opened and blessings are showered down upon
you. That which you give is never missed; it
becomes not a sacrifice but an investment under the
wondrous powers of the Almighty to bless you
(Discourses of President Gordon B. Hinckley,
Volume 2, Intellectual Reserve, USA, 2005, p.
330).
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Principles of Giving (continued)
 Elder F. Burton Howard wrote:
• The real reason for our mortal probation is to
confront challenges, not escape them. It is to learn
to give, not to learn to get. In earth life as in the
university, we cannot complain about not getting
passing grades if we are unwilling to take the test.
There are no shortcuts to the plan of salvation.
There is no exaltation without effort. We have
nothing more important to do than to fully,
honestly, and completely obey the laws upon which
blessings are predicated. Make no mistake about it,
we will reap what we sow (Galatians 6:7) (“On
Giving and Getting,” New Era, Oct. 1985, 44).
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Questions
 Any questions on learning the principles of
wise giving?
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D. Understand Why We
Should We Give
1. We have been commanded to give
•
•
The prophet Jacob taught:
• “Think of your brethren like unto yourselves,
and be familiar with all and free with your
substance” (Jacob 2:17).
President Gordon B. Hinckley stated:
• Without sacrifice there is no true worship of
God. … ‘The Father gave his Son, and the Son
gave his life,’ and we do not worship unless
we give—give of our substance, … our time,
… strength, … talent, … faith, … [and]
testimonies (Teachings of Gordon B. Hinckley
[1997], p. 565).
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Why Give? (continued)
King Benjamin commented:
• And now, for the sake of these things which I have
spoken unto you—that is, for the sake of retaining a
remission of your sins from day to day, that ye may
walk guiltless before God—I would that ye should
impart of your substance to the poor, every man
according to that which he hath, such as feeding the
hungry, clothing the naked, visiting the sick and
administering to their relief, both spiritually and
temporally, according to their wants (Mosiah 4:26).
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Why Give? (continued)
2. Giving shows our love for God
• King Benjamin stated:
• And behold, I tell you these things that ye may
learn wisdom; that ye may learn that when ye are in
the service of your fellow beings ye are only in the
service of your God (Mosiah 2:17).
 Sister Carol B. Thomas commented:
• Sacrifice is an amazing principle. As we willingly
give our time and talents and all that we possess, it
becomes one of our truest forms of worship. It can
develop within us a profound love for each other
and our Savior, Jesus Christ (“Sacrifice: An Eternal
Investment,” Ensign, May 2001, 63).
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Why Give? (continued)
3. Giving helps others
• King Benjamin further counseled:
• But ye will teach them to walk in the ways of
truth and soberness; ye will teach them to love
one another, and to serve one another. And also,
ye yourselves will succor those that stand in
need of your succor; ye will administer of your
substance unto him that standeth in need
(Mosiah 4:16-17).
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Why Give? (continued)
 4. Giving helps us to become more like Christ!
• President Marion G. Romney (1897-1988) taught:
• The Lord doesn’t really need us to take care of
the poor, but we need this experience; for it is
only through our learning how to take care of
each other that we develop within us the Christlike love and disposition necessary to qualify us
to return to his presence (“Living Welfare
Principles,” Ensign, Nov. 1981, 92; emphasis in
original).
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Why Give? (continued)
 5. Giving helps us repay an un-payable debt
• There is one final debt, a debt we can never repay.
And while we can never repay the debt, we can try.
King Mosiah, in Mosiah 2: 20-21 states:
• I say unto you, my brethren, that if you should
render all the thanks and praise which your
whole soul has power to possess, to that God
who has created you. . . I say unto you that if ye
should serve him who has created you from the
beginning, and is preserving you from day to
day, by lending you breath. . .I say, if ye should
serve him with all your whole souls yet ye
would be unprofitable servants.
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Questions
 Any questions on why we give?
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E. Understand Basics of Wise Giving
(phone, door-to-door, or mail)
 Before you give a penny!
• 1. Ask for the charity's full name and address.
• Get identification from the solicitor.
• Don't be fooled by names that look impressive
or that closely resemble the name of a wellknown organization
• 2. Ask if the charity is licensed by state and local
authorities
• Registration or licensing is required by most
states and many communities
• 3. Ask if your contributions are tax deductible
• Contributions to tax exempt organizations are
not always deductible. Is it a 501c3
organization?
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The Basics of Giving (continued)
 4. Check out the organization with the Better Business
Bureau (BBB).
• Find out what percent of their donations go to
programs, fund raising, and administrative. The
BBB recommends:
• 1. At least 50% of the charity's total income to
be spent on programs discussed in the literature
• 2. No more than 35% of contributions to be
spent on fund raising, and
• 3. No more than half of the charity's total
income to be spent on administrative and fund
raising costs
• Supporting causes where these limits are not
reached may not be the best use of your funds
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The Basics of Giving (continued)
 5. Watch out for statements such as "all proceeds will
go to the charity"
• This can mean that the money left after expenses,
such as the cost of written materials and fund
raising efforts, will go to the charity. These
expenses can make a big difference, so check
carefully
 6. Don’t worry about unordered merchandise.
• If unordered items such as key rings, greeting cards
or pens are enclosed with an appeal letter,
remember you are under no obligation to pay for or
return the merchandise
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The Basics of Giving (continued)
 7. When you're asked to buy candy, magazines, card,
or tickets to a dinner or show to benefit a charity, be
sure to ask what the charity's share will be
• You cannot deduct the full amount paid for any
such items, as the IRS considers only the part above
the fair-market value of the item to be a charitable
contribution. If you pay $10 for a $8 box of candy,
you can only deduct $2 for tax purposes
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The Basics of Giving (continued)
 Once you decide to give:
• 1. Do not give cash
• Always make contributions by check and make
your check payable to the charity, not to the
individual collecting the donation
• 2. Keep records of your donations (receipts,
canceled checks, and bank statements) so you can
document your charitable giving at tax time
• Although the value of your time as a volunteer
is not deductible, out-of-pocket expenses
(including transportation costs) directly related
to your volunteer service to a charity are
deductible
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The Basics of Giving (continued)
 3. Don't succumb to pressure to give money on the spot
or allow a "runner" to pick up a contribution
• The charity that needs your money today will
welcome it just as much tomorrow
 4. Call your local BBB if a fund raiser uses pressure
tactics such as intimidation, threats, or repeated and
harassing calls or visits
• Such tactics violate the CBBB's recommended
Standards for Charitable Solicitations
 These ideas are from: Tips on Charitable Giving, 1986, Council of Better
Business Bureaus, Inc.
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The Basics of Giving (continued)
 What About Unwanted Mail?
• Decide in advance which charities you want to
support and discard appeals from all other groups
• Don't feel guilty about not supporting all groups
writing to you. You physically and financially
can’t! But you can help the most important to
you!
• Stop giving to all those that mail you
solicitations, and they will stop soliciting you
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The Basics of Giving (continued)
 What about unwanted Telephone, Door-toDoor, and Street Solicitations?
• Decide in advance what your “Family Giving
Policy” is and stick with it
• I tell them: “We have a “Family Giving Policy”
that we do not give over the phone or to door-todoor salespeople over 12 years old. If you will
send (or leave) material covering your charity, I
will be happy to review it later and make a
decision. We do not commit to anything via
phone or door-to-door”
• Rarely do I get things in the mail (or left) in
response to our “Family Giving Policy”
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Other Sources
 Two good locations for information on
charities are:
• Better Business Bureau’s Wise Giving Alliance at
www.give.org. It rates over 400 different charities.
It is a great resource
• Charity Navigator, an independent charity evaluator
at www.charitynavigator.org. It works to advance a
more efficient and responsive philanthropic
marketplace by evaluating the financial health of
America's largest charities
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The Basics of Giving (continued)
 President Gordon B. Hinckley said:
• Generally speaking, the most miserable people I
know are those who are obsessed with themselves;
the happiest people I know are those who lose
themselves in the service of others (“Whosoever
Will Save His Life,” Ensign, Aug. 1982, 5).
 Elder Joseph B. Wirthlin of the Quorum of the Twelve
Apostles has said:
• If the Savior were among us in mortality today, He
would be found ministering to the needy, the
suffering, the sick (“Inspired Church Welfare,”
Ensign, May 1999, 78).
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The Basics of Giving (continued)
 Tithing: Principles and Promises
• Malachi 3:10
• Bring ye all the tithes into the storehouse, that
there may be meat in mine house, and prove me
now herewith, saith the LORD of hosts, if I will
not open you the windows of heaven, and pour
you out a blessing that there shall not be room
enough to receive it.
• D&C 64: 23
• Behold, now it is called today until the coming
of the Son of Man, and verily it is a day of
sacrifice, and a day for the tithing of my people;
for he that is tithed shall not be burned at his
coming.
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The Basics of Giving (continued)
 My Favorite Charities
• Following are a few of my favorite charities
• My principles are:
• Support charities which are consistent with
my personal goals and values
• Support charities which help people
worldwide and make the world a better place
• Support charities which are effective in their
use of the “widows mite”. They will be wise
with others and my funds
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The Basics of Giving (continued)
 Fast Offerings: Principles and Promises
• President Marion G. Romney stated:
• Caring for the poor is a covenantal obligation. It
follows, then, that we look after our poor and
distressed not only because it is convenient, or
exciting, or socially acceptable; we should do it
first and foremost in fulfillment of our covenant
with the Lord that we will do so (Marion G. Romney,
“Caring for the Poor—A Covenantal Obligation,” Ensign,
Nov. 1978, 87).
• He also said:
• If we will double our fast offerings we shall
increase our prosperity, both spiritually and
temporally. This the Lord has promised, this has
been the record (Henry D. Taylor, “The Law of the
Fast,” Ensign, Nov. 1974, 14).
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The Basics of Giving (continued)
 LDS Charities (Humanitarian Services)/Perpetual
Education Fund
• 100% of everything you give goes to those in need
 Missionary Funds
• I believe the Lord helps those who help missionaries
 Deseret Industries
• What a better way to give of things that are still
good
 Other charities
• BYU Annual Fund, BYU Scholarships, Boy Scouts
of America, The United Way, Habitat for Humanity,
etc.
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The Basics of Giving (continued)
 Elder Robert D. Hales of the Twelve stated:
• You have received much in your life; go forth and
freely give in the service of our Lord and Savior.
Have faith; the Lord knows where you are needed.
The need is so great, brothers and sisters, and the
laborers are so few (Couple Missionaries: A Time
to Serve,” Ensign, May 2001, 27).
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The Basics of Giving (continued)
 Elder Vaughn J. Featherstone said:
• Now my young friends, think of all the
opportunities you will have to serve at inconvenient
times. I promise you that most of the service you
render to the Lord will come at times not
convenient to you (Vaughn J. Featherstone, “True
Christlike Service Is Seldom Convenient,” Tambuli,
Aug. 1984, 34).
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The Basics of Giving (continued)
 Elder Vaughn J. Featherstone concluded:
• My beloved young friends, determine to serve one
another. Listen to the spirit when your flesh is
weak. For truly the Master said, “Inasmuch as ye
have done it unto one of the least of these my
brethren, ye have done it unto me” (Matt 25:40).
The blessings are tenfold when we do those good,
kindly acts of Christian service when it is
inopportune or not convenient (“True Christlike
Service Is Seldom Convenient,” Tambuli, Aug.
1984, 34).
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The Visit to Taz Murray’s Candy Store
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Review of Objectives
 A. Do you understand the myths of giving?
 B. Do you understand what the scriptures say
about money and giving?
 C. Do you understand why we should give?
 D. Do you understand how to give now?
 E. Do you understand the basics of wise
giving?
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