Nearly 95% of Americans donating to charity each year and almost half of those aged 16 or older volunteering their time, according to a new report from TD Economics.
"Americans are generous people, and nearly everyone – 95% of households – gives to charity each year," said Craig Alexander, Senior Vice President and Chief Economist at TD Bank Group.
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"The total value of the time and money Americans give each year is more than $570 billion, but the benefits of giving are much more than that and have lasting impacts on local communities and society as a whole."
The vast majority of volunteers in America say they do it to make a contribution to their community, according to the TD report. Alexander says the report also shows that charitable giving inspires others to get involved – many Americans volunteer as part of a group project with friends or colleagues, or join family members already helping others.
"Americans give almost 8 billion hours of their time volunteering every year, and people are even more inspired to give back when they witness a good deed," said Vinoo Vijay, Chief Marketing Officer, TD Bank. "Our MakeTodayMatter campaign, which helped 24 TD customers in 24 towns and cities across North America over 24 days in November, gave inspiration by making a difference in their communities in just 24 hours."
Some of the giving moments of TD’s MakeTodayMatter campaign have been captured in a video, which Vijay hopes will encourage even more Americans to give back to their communities.
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By GlobalData"With steady volunteerism in the U.S., it’s no surprise that Americans embrace events such as Giving Tuesday and MakeTodayMatter," said Alexander. "They know that an hour of time or a dollar given today can generate significant, positive lasting change, so it’s great that just about everyone can find a way to give back that suits both their desire and their ability."
