Why Giving Season Is an Especially Important Time for Relief Funds
Relief Funds Needs-Based Test Requirements
November 9, 2022
The Impact of Tornadoes and How Relief Funds Can Help
December 22, 2022November 22, 2022
As we approach the final months of the year and the winter holidays draw closer, the season of giving begins. This generous time of year is one where many individuals take the time to think about others and consider ways to give back and show their appreciation.
Giving season lasts the entire month of December, but it actually begins with Giving Tuesday, which occurs on the first Tuesday after Thanksgiving - this year, Giving Tuesday falls on November 29th. In this article, we’ll look at the impact of giving season and explain why it is an especially important time for relief funds.
The Impact of Giving Season
2020 was a historic year for giving, as even during the pandemic, nonprofits and charities raised over $466 billion during the year, and a record $2.47 billion on Giving Tuesday. However, 2021 proved to be an even more generous year, as charitable giving grew by 4% to over $484 billion.
There was also a new record total of $2.7 billion donated on Giving Tuesday—up nearly 10% from 2020. But Giving Tuesday is just the start.
Each year, nearly 30% of charitable giving occurs in November and December. This trend is even more drastic for online giving, with 47% of contributions coming after December 25th in the final week of the year, and 20% of contributions coming on December 31st—the final day of the year. Compare that to the 4% of online donations made on Giving Tuesday and you’ll see that fundraising throughout all of giving season is a necessity. So, what does that have to do with relief funds?
Giving Season and Relief Funds
Just like for nonprofits and charities, giving season offers an incredible fundraising opportunity for relief funds. Relief funds allow individuals to contribute to team members in need. Establishing a relief fund (if your organization does not yet sponsor one), and promoting it to your internal communities during giving season can amplify donations to the fund and maximize the effect they can have throughout the entire year.
Beyond providing necessary financial assistance to those struggling, relief funds also allow team members to make a direct, positive impact on the lives of others in need through tax-deductible donations to the fund. This can help to enhance the culture within an organization, as there are many benefits of giving back, both for individuals and companies as a whole.
In recent years, it has become increasingly important for workers around the world to feel like they make a difference and have a positive impact with the work they do. It’s also important that they feel as though they are part of a community. Employees who are happier and feel accomplished also tend to perform better and work more efficiently than those who are disengaged and unhappy. Providing individuals with opportunities to give back, help others, and spread kindness is an essential part of creating a positive work environment where people can feel a sense of meaning.
As mentioned, giving back can take many different forms. Contributing to a relief fund and helping those in need is a great way to boost employee happiness, morale, participation, and engagement.
Why You Should Consider Building a Relief Fund With Emergency Assistance Foundation Into Your End-of-Year Planning
One of the best ways to give back this holiday—and giving—season is for your organization to establish a relief fund with Emergency Assistance Foundation to help fellow team members who are struggling.
Critically, all Fund Partners of EAF—those who choose us as their third-party relief fund administrator—receive access to our Fund Partner Portal. Our Portal contains many helpful resources including Giving Season campaign idea starters and samples to boost fundraising and employee engagement efforts throughout the year.
A relief fund enables individuals within your organization to make a direct, positive impact on the lives of fellow team members in need. This can help to boost morale, participation, and collaboration among all team members. After all, that’s what the holiday season is all about—helping others. Get into the spirit of giving season by incorporating a relief fund into your end-of-year planning and establishing a fund with Emergency Assistance Foundation today!
