Nonprofits Contribute to a Better World

Pictured: First Bank team members at a recent event for the nonprofit NAMI, the National Alliance on Mental Illness.

To celebrate efforts that make the world a better place, August 17 is recognized as National Nonprofit day.

National Nonprofit Day was founded by Sherita J. Herring, an accomplished speaker and author, in 2017 to educate and empower others to make a difference alongside the nonprofits working hard every single day. August 17 was chosen to commemorate the anniversary of the Tariff Act of 1894. This Act imposed the very first federal income tax on corporations and included exemptions for nonprofits and charities. Those tax exemptions remain in effect to this day!

Nonprofits are vital to our community to help the underserved. Providing services to the underserved throughout the world, nonprofits bring education, healthcare, law services, and construction to those in need. Most importantly, nonprofits seek to spread awareness of world issues, striving to inspire others to join the effort. While simultaneously making the world a better place, nonprofits also add to national GDP, contributing $887.3 billion in 2012 during the recession. There are millions of dedicated nonprofit organizations throughout the world. In the United States, there are nonprofits big and small, and many people spend time contributing to the Nonprofit sector.

• There are over 1.5 million registered charitable organizations in the United States alone, according to the National Center for Charitable Statistics.
• 25% of Americans register to volunteer annually.
• The nonprofit sector employs 12 million people annually, making it the third largest employer in the United States behind retail and manufacturing.
• Nonprofits continue to grow – donations over the last 10 years are higher than in the past.

Solving communal issues requires significant funding and labor. Nonprofits need all the help they can get. If you’re wondering how you can get involved, consider these tips:

• Spread the word! Share the news with your friends and family, and post on social media using #NationalNonProfitDay.
• Find out what your community needs. Determining what is needed and how you can help is the first step to improvements!
• Donate to a nonprofit organization. You can research different nonprofits on the IRS website and see how your donated funds are used.
• Volunteer! Nonprofit organizations can almost always use the extra hands, and volunteers truly make a difference.

On their journey to make the world a better place, nonprofits need all the help they can get, so get involved and help those in need! In the ongoing effort to help the underserved, First Bank provides banking options that are specific to nonprofits. If you are a Nonprofit, please reach out to one of our branch teams in your community to learn about how banking with First Bank can benefit your organization. Click here to learn more about First Bank’s Nonprofit checking account.