It appears that the global pandemic has had a profound impact on global charitable giving. In simple words, when the widespread COVID-19 forced everyone to restrain themselves within the four walls of the house, many businesses were forced to shut, and millions of people lost their jobs. This is what resulted in many organizations deciding to hold back their charitable giving. According to sources, the total charity given by the charitable organizations amounted to $410,02 billion back in 2017, which excludes many firms as they decided to stay discreet.
Giving charitable donations to organizations like Yad Ezra V’Shulmit is crucial because they instill a positive change in the lives of millions of people globally. Right now, many less privileged people are in need of charity, but the amount of such money pouring in has been little. Not to forget, charitable giving is also an investment for many firms to get maximum exposure in public. Because social media has a strong role, charitable organizations can easily give strong exposure to different businesses. Therefore, many firms are holding back their money and waiting for the right opportunity. While many wealthy individuals have personally assisted the less privileged people across the globe.
Therefore, it appears that the global pandemic hasn’t shifted the attention of the wealthy from helping everyone out. Especially as far as the most affluent Americans are concerned, they donated around 90% to prominent charitable causes. Nearly half of them decided to provide a donation in the light of the adversity that the global pandemic created. Despite the growing number of wealthy people donating to the less fortunate, there are reservations about the long-term growth of the nonprofit organizations that have always been in the front row to help people out.
Because the NGOs received funds from the wealthy in society, it is hard to say if they will survive till the end of this pandemic. Because COVID-19 is here to stay, it is crucial to embrace the importance of being generous towards the poor and needy of society. However, according to a recent search by many banks around the globe, there has been a sudden increase in the number of firms donating to people so that they can fulfill their basic needs. Out of all these numbers, around 90% are directed to local organizations, whereas 3.5% supported the communities part of the immediate charitable group. The sudden increase In the number of people paddling donations is good, but it is hard to say if the current grant will be enough for the needy people.
The impact of COVID 19 on several economies across the globe is profound, which is why many states have come forward to support it. However, as political unrest prevails in many countries across the globe, it is hard to say if every person will receive a fair share of this grant or not. Believe it or not, COVID 19 has caused a sudden increase in unemployment, whereas a lot of people have also applauded the incredible change that it has brought to the healthcare industry. When the coronavirus started to hit the world, not many people were concerned about their personal hygiene. Now, the healthcare industry itself has been taken to the next level, and the stakeholders are having a major moment right now. one thing is for sure that as long as this pandemic is going to last, the number of people and firms willing to donate might get less but eventually won’t come to zero. Therefore, it is important for every privileged person in the world to embrace the responsibility of helping others, even if it’s a small amount that has to be donated.
