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Americans are among the most generous givers to charitable organizations. Noted philanthropist and successful businessman Morris Gad commented on how private donations support communities.
New York, New York (PRWEB) December 04, 2012
In light of the aftermath of Hurricane Sandy, a New York Times article has examined the motivations behind charitable giving in America. Morris Gad, a philanthropist who has pledged money to support a number of worthwhile causes – including disaster relief efforts – commented on the piece.
The article provided a unique viewpoint on Americans’ relationships to both charities and the government. It stated though U.S. citizens pay fewer taxes than most other similar nations, they contribute more to charitable organizations than to any other group of people. This leads many to draw the conclusion that Americans trust the ability of the private sector to more readily meet the needs of those in crisis than the government.
In response to the benefits of charitable giving to Hurricane Sandy relief efforts, Morris Gad commented: “Being a native New Yorker, I personally felt the effects of hurricane Sandy to me and my community. I define myself by my country, community, friends, and family, so when a tragedy like this hits home, it is instinctive for me and my company to lend out a helping hand. While most would agree that the USA's greatest attribute is our freedom, I would say our generous, caring and giving citizens make this country as great as it is. Our prayers and thoughts go out to all the families who have and are suffering from this tragedy.”
According to the article, 95 percent of American citizens report donating money to a non-profit or charitable institution each year. Some studies presented in the article suggest individuals donate funds because they lack faith in the government to address societal needs. However, critics suggest some are incented to donate for tax purposes.
The article goes on to note though charitable giving is widely popular, the total amounts donated to charity equal less than two percent of total economic output. In fact, the pieces noted private donations hover at approximately two percent of personal income while businesses rarely donate more than one percent of pretax profits. Regardless of the numbers, the theme of the article suggests philanthropy fills a very real role to filling the gaps left by cuts to government programs.
Morris Gad is the CEO and President of Diamonds International. One of the world’s largest retailers of diamonds and other gemstones, Diamonds International is headquartered in New York City and maintains retail locations across the Caribbean, Mexico and Alaska. Morris Gad is a dedicated philanthropist who has donated his personal funds to a number of good causes across the world. Diamonds International also supports a number of charitable locations that serve the communities in which its stores are located.
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