Philanthropy 101: How Helping British Columbians Facing Cancer Can Also Benefit You
November 6, 2024
Found in General, Leave a Legacy, Philanthropy and Research
Each year, more than 80,000 people from across the province donate to the BC Cancer Foundation to help advance cancer research and care in B.C. Here are three quick Q&A about giving, and why it’s good for you.
What is philanthropy?
The term ‘philanthropy’ dates back to Ancient Greece and literally means “love of humanity.” Today, philanthropy encompasses generosity of all kinds — giving time, money or resources to help others.
How to practice philanthropy.
You don’t need to be a millionaire! Many BC Cancer Foundation donors sign up for monthly giving in which a small donation is deducted each month from their credit card or bank account. (The price of a latte or a sandwich, $5-$10, a month adds up to $60-$120 a year.) Monthly donations are crucial to advancing cancer care in that they supply regular, reliable support for life-saving research.
One-off donations are also always welcome. Giving in someone’s memory is an impactful way to remember a loved one. Marking a special occasion by asking for donations in lieu of birthday or wedding gifts adds a heartfelt touch to celebrations. (The BC Cancer Foundation can provide small table cards or certificates to let your guests know that you donated in their honour in lieu of wedding favours.)
You can make giving fun, and involve friends and family, by choosing something you love — a hobby, sport or a pastime, anything from golf to making homemade jams and jellies — and organizing a community fundraiser.
Or you can give your time to volunteer at events such as the Capilano Volkswagen Cypress Challenge. Last year, volunteers helped riders raise $800,000 for pancreatic cancer research and care.
What are the benefits of philanthropy?
Scientific evidence shows that philanthropy really does benefit the giver as well as the receiver.
People who donate or volunteer to help causes they believe in report greater overall happiness, lowered stress levels and better physical health. Workout to Conquer Cancer is a win-win as the May-long fitness challenge helps build healthy exercise habits while raising money for cancer research and care in B.C.
Giving back also provides a heightened sense of connection to others in the community. For example, employee giving, through matching programs or internal fundraising competitions, is a great way to engage staff, boost company morale, build community and create goodwill across your organization.
And finally, donating can save you money. The federal and provincial government incentivize giving in a variety of ways, providing donors with deductions against income, capital gains and estate taxes for their charitable contributions. (BC Cancer Foundation donors who contribute $10 or more receive an official receipt for tax purposes.)
In addition to tax benefits, making a charitable gift in your will gives you and your loved ones the added peace of mind of planning for the future of your estate.
Learn more about why you should give — and the many different ways to do it — at bccancerfoundation.com
Did you know?
There are over 300 charities in Canada that include the word “cancer” in their name. Mistaking even one word in the name of a charity you want to support, such as using the word “Society” instead of “Foundation,” can lead to confusion and problems in the administration of your generous gift.
To ensure your gift stays in B.C., to advance cancer research and care for British Columbians across the province, use our full legal name: BC Cancer Foundation (registration number: 11881 8434 RR0001).
