Charity is providing or voluntary help to indigent individuals, as a philanthropic or humanitarian deed. Others put is as altruism, the practice or idea of unbiased, selfless and self-effacing concern for the welfare of others.
Insuring These Philanthropic Acts
Because of these altruistic and humanitarian deeds, numerous charity organizations of various cause have been and are being established. And just like any other organizations, whether profit or non-profit, need to have a form of insurance to protect what they have.
Certain charity insurance is formulated to cover the numerous risks that may be encountered by charities, non-profit organizations, voluntary origination, local community groups and more. Such coverage includes Employers’ liability including volunteers, property damage for buildings and contents, and Business interruption including for donations and grants.
How Giving Are The US Presidential Candidates of 2020?
Individuals who give to charity are usually those who are well-off. However, not all who are affluent are charitable.
For instance, candidates of the US presidential elections in 2020 have comfortable lives, where two are billionaires and most of them are almost millionaires. However, they aren’t the most charitable group.
Almost all candidates with tax returns have donated not more than 5% of their revenue, frequently falling behind average Americans in similar tax range. As per recent findings, the entirety of their identified giving which amounts to $198 million appears impressive, until you take into account that 98% of the total amount is from Tom Steyer alone, a billionaire who has donated 193 million US dollars to three of his charities.
Among the 2020 presidential candidates, the very charitable one, with regards to the percentage of donated income, is Cory Booker. From his tax return record, over the past 10 years, the US senator from New Jersey has donated 485,000 US dollars. Approximately half of the amount came in 2013 alone when he has given away in cash about 130,000 US dollars and 130,000 US dollars’ worth of stock to charities in New Jersey. His tax returns, every other year, display gifts/donations from 2% to 16%.
In absolute terms, billionaire Tom Steyer is the identified to be the biggest donor. However, of the hopefuls who have issued their tax returns, Senator Cory Booker has revealed to have given the biggest fraction of earnings.
The other candidates who have made known of tax returns have given much less. For instance, Elizabeth Warren and husband since 2008 have donated to charity almost 420,000 US dollars which is about 4% of the 10 million US dollars they earned throughout that span of time. The tax return of Kamala Harris displays a giving of around 200,000 US dollars since 2014 which is about 2% of his earnings. Since 2009, Bernie Sanders gave around 106,000 US dollars which is approximately 2% of what Sander’s and his wife earned.