Giving with Pride - Support the LGBTQ+ Community - Financial wellness starts here.

Philanthropy and Charitable Giving in the LGBTQ+ Community

June is Pride Month. So, how can you support the LGBTQ+ community in June and beyond? In this blog post, we dive into the world of LGBTQ+ philanthropy and charitable giving. Learn how you can get involved.

What is philanthropy?

Philanthropy encompasses acts of giving–meaning more than just money. This can be through monetary donations, volunteer work, or advocacy efforts to support and uplift the LGBTQ+ community. There are plenty of ways to support the numerous organizations and foundations that are dedicated to LGBTQ+. These organizations strive to address the unique challenges faced by the community and work towards a more inclusive society.

Motivations for charitable giving in the LGBTQ+ community are deeply rooted in solidarity and support. When you give back, you can demonstrate your commitment to improving the lives of individuals within the LGBTQ+ community.

Disparities in the LGBTQ+ Community

The LGBTQ+ community faces many challenges due to discrimination including financial insecurity, homelessness, and increased challenges in the workplace. As of 2021, the economic impact of the pandemic hit the LGBT community harder, according to the Census Bureau.

“The Lesbian, Gay, Bisexual and Transgender (LGBT) adult population reported living in households with higher rates of food and economic insecurity than non-LGBT Americans… Overall, about 13.1% of LGBT adults lived in a household that experienced food insecurity in the past seven days, compared to 7.2% of non-LGBT adults.“

How to budget to give

When it comes to budgeting for charitable giving, start by setting aside part of your income. Choose a goal amount that you can comfortably set aside. First, examine your budget. Look for areas where you have room to set money aside to donate. Every bit counts.

Don’t feel like you have any money to spare? Examine your discretionary expenses and decide whether you could cut back on something. Maybe you could skip take-out for one week. Or hold back on your online shopping habits. It all depends on what works for you. If your budget is too tight, there are other ways to provide support (more on this in a second). Keeping track of how much you have set aside to donate can you stay consistent and motivated.

Choosing a cause within the LGBTQ+ Community

Consider prioritizing causes that align with your values and passions. For example, if you are passionate about improving access to education within the community, look into organizations that support this such as the Point Foundation. This will allow you to make a more meaningful impact with your giving. To maximize the effectiveness of your budgeted giving, research organizations, and initiatives to ensure they are reputable, transparent, and efficiently use the funds they receive.

Providing support without money

Remember, philanthropy is not limited to financial contributions. Your time, skills, support, and advocacy can make a significant impact. You can make a difference in Pride month and beyond. Here are a few ideas to get you started:

Volunteer at LGBTQ+ organizations or events
Offer pro bono services (e.g. legal advice, graphic design, marketing assistance, etc.)
Attend LGBTQ+ events and fundraisers

Some prominent organizations to support

The Human Rights Campaign is a grassroots organization committed to ensuring that all LGBTQ+ people (particularly those who are trans, people of color and HIV+) are treated as full and equal citizens, across the US and around the world.
Trevor Project provides crisis intervention and suicide prevention services to lesbian, gay, bisexual, transgender, queer & questioning (LGBTQ) young people under 25.
Lambda Legal is a prominent civil rights organization focused on advocating for the rights of LGBT communities, as well as individuals living with HIV/AIDS through litigation, educating society on important issues, and influencing public policies that promote equality and justice.
Point Foundation is the nation’s largest scholarship-granting organization for lesbian, gay, bisexual, transgender, and queer (LGBTQ) students of merit. Point promotes change through scholarship funding, mentorship, leadership development, and community service training.