TD Bank Group Newsroom
Open hearts, open wallets: What makes people give?
TD Bank Financial Group and Children's Miracle Network reveal keys to charitable giving in tough times TORONTO, Dec. 2 /CNW/ - Tough economic times often result in charities' needs being greater than usual. While Canadians remain full of good intentions about charitable giving, a new survey by TD Bank Financial Group for Children's Miracle Network has uncovered several keys to inspiring people to follow through with a donation. "We wanted to pinpoint the triggers that move Canadians from good intentions to good deeds during turbulent times," said Tim Hockey, President and Chief Executive Officer, TD Canada Trust. "As TD launches its annual fundraising campaign for Children's Miracle Network, we also wanted to ensure our strategy is aligned with Canadians' current attitudes about charitable giving." The survey unveiled four key factors that would encourage Canadians to give more: Tax credits matter Generous tax credits earned the number one spot, with 45 per cent of respondents indicating that they would give more if they got more back. While this is something charities cannot control, it highlights the importance of reminding donors of the connection between giving and getting - particularly as the end of the tax year approaches. Communicate the need Canadians are also motivated by a sense that charities and not-for-profits need more resources given the state of the economy. One in three Canadians (32 per cent) say a sense of financial urgency for charities would be enough to lead them to donate more. If someone I trust asked me to give - I would For 28 per cent of respondents, the odds of a donation are greater if the ask comes from someone they trust. While this could be a friend, family member, celebrity or established institution, charities should look at using a respected and reliable source to help make Canadians feel more comfortable donating. Youth need convenience While only seven per cent of Canadians say convenience is a big factor - for example, contributing through automated monthly donations - that number almost doubles among those aged 18-34 (13 per cent), a significant finding for charities trying to cultivate younger donors for longer-term giving. A 13 per cent increase in charitable giving from any demographic can make a big difference, particularly during challenging times. "This survey provides insight on what motivates Canadians to open their heart and wallets - to us, and to every charity," said John Hartman, Chief International Officer of Children's Miracle Network. "For Children's Miracle Network, these results reinforce the approach we take with TD Bank Financial Group: make it personal, make it easy and communicate both the benefit and the need. All of the funds raised help our 14 children's hospitals in Canada and with TD making it so easy to contribute, convenience and efficiency also play a role in delivery impact," he said. Raising more than $27 million to date TD Bank Financial Group is one of the largest corporate contributors to the Children's Miracle Network, raising more than $27 million dollars since the partnership began in 1994. One hundred per cent of customer and employee donations go directly to the local Children's Miracle Network member hospital in the community where the donation was made. As part of this annual fundraising campaign, TD Bank Financial Group matches all customer donations up to $1 million per year. About the survey From November 10 to November 11, 2008, Angus Reid Strategies conducted an online survey among a randomly selected, representative sample of 1,002 adult Canadians. The margin of error for the total sample is +/- 3.1%, 19 times out of 20. The results have been statistically weighted according to Statistics Canada's most current education, age, gender and region Census data to ensure a representative sample of the entire adult population of Canada. Discrepancies in or between totals are due to rounding. TD Community Giving: Making a Difference Together Children's health, literacy and education, and the environment are the three main areas of focus for TD's community giving. Flagship programs within these areas include: TD Children's Hospital Fund; TD Friends of the Environment Foundation; TD Great Canadian Shoreline Cleanup; TD Canadian Children's Book Week; TD Canada Trust Scholarships for Community Leadership; and the TD Summer Reading Club. With support from customers and employees, TD is involved with a host of national, regional and local causes benefiting diversity, arts and culture and other community programs. In 2007, TD donated $33 million to more than 2,000 organizations across Canada. About Children's Miracle Network Children's Miracle Network is an international non-profit organization dedicated to saving and improving the lives of children by raising funds for children's hospitals across North America. Each year more than 170 Children's Miracle Network hospitals provide the finest medical care, life-saving research and preventative education to help millions of kids overcome diseases and injuries of every kind. In Canada, Children's Miracle Network helps support 14 children's hospitals across the country. Each year these hospitals treat more than 2.6 million children. For more information, visit www.childrensmiraclenetwork.ca.
For further information: Gregory Harrison, TD Bank Financial Group, (416) 308-8597, email@example.com; Jason Graham, Argyle Communications, (416) 968-7311 Ext. 229, firstname.lastname@example.org
Get News Alerts by Email
Receive breaking news from TD Bank Group directly to your inbox.