So far, some 57 of the world’s billionaires have taken the Giving Pledge, promoted by Bill and Melinda Gates and Warren Buffett. The pledge campaign began last June when the Microsoft founder and his wife, along with the financier, decided that the top sliver of income-earners ought to put a significant portion of their wealth into charitable works now, rather than waiting until they die.
They’re not talking small change — they’re asking for more than 50 per cent of total wealth here. The donors get to pick their causes, but in the near future, hundreds of billions in stocks and other assets will be transferred.
In the face of this, you might wonder how much of a difference your donations to the Salvation Army Christmas Kettles or your workplace pledge for the United Way can possibly make.
Well, actually, your pocket change can be just as powerful as a few billion from Facebook founder Mark Zuckerberg (not only the world’s youngest self-made billionaire, but now also its youngest multibillion-dollar philanthropist).
Strange as that looks, it’s true. As long as you and all your neighbours buy in, just like the billionaires.
Consider: how many people walk past a Salvation Army kettle in Red Deer every day during the Christmas season? Ten thousand? Twenty?
Let’s estimate 15,000. If every person were to pledge to themselves that they would not pass a Sally Ann kettle empty-handed all season long, there would be no one in Red Deer not having a good Christmas.
Let’s say that all you have is pocket change. If 15,000 people a day put in an average of 19 cents (the maximum change you can get in small coins for one purchase), that would produce $2,850 a day, six days a week, for the duration of the campaign. If a person who’s feeling particularly flush would occasionally toss in a loonie, toonie, or some foldable currency, there should be no problem fulfilling the Salvation Army’s goal of $175,000. As it is, they still need $109,00 more.
But not one person would go home at night feeling pinched over the loss of 19 cents that day.
Oh, and the United Way could also use a quick $600,000, too.
In the past year, while the billionaires have been digging deep, ordinary Canadians have been feeling the economic downturn. Charitable giving in 2009 dropped 3.4 per cent from 2008, says Statistics Canada (when the effect of tax sheltering — whatever that is — is taken into account). Donations in the U.S. have dropped 3.6 per cent.
Individual billionaires may have suffered more of a drop in cash value in the recession, but it’s us ordinary wage-earners who feel the drop in disposable income. Spending on everyday luxuries like movie tickets, liquor, clothing and recreation items are the first to go. Sales are down.
That’s understandable. But remembering charities is not an everyday luxury.
Especially if you take the pledge. Everyone has a container of change in their homes. Decide to carry some with you all the time and promise yourself you won’t let one Christmas charity fundraiser go past you empty-handed from here on, even for just the smallest of donations.
Sure, the Michael Milkens of this world can give a few billion each — and God bless ’em. Anyway, what can you do with $10 billion that you can’t do with five?
But for the charities that make a difference in this city, we are the billionaires. As long as we all agree that even our small coins are important.
Isn’t it nice to think that you share common ground with Bill Gates?
Greg Neiman is an Advocate editor.