Different ways to give back to community

Many Canadians are quite creative with their approach to giving back to their communities, focusing on how they can contribute in a way they feel makes a positive impact. When it comes to helping out and making change through giving, there are formalized options and grassroots methods you can pursue. The way you give back should reflect your goals and vision for the change you'd like to drive and the impact you'd like to create.

There is no right way to go about giving, only the way that works best for you. In fact, there are many different types of actions Canadians take to achieve their identified strategic giving goals.

Types of giving actions

Volunteering – Giving of your time and talents. This can be anything from helping a not-for-profit or registered charity with their on-the-ground activities (e.g. your family getting together to clean up a river bank, playing with animals at the local animal shelter, coaching a baseball team, or participating in clean-up day at your children's school) to assisting with the direction of a charitable organization (e.g. being on the board, acting as a trustee, or supporting fundraising efforts).

Charity – Giving directly to those in need (or charities that help those in need) to meet their short-term requirements (e.g. giving food and water directly to someone who needs it, donating food to your local food bank, donating funds to a homeless shelter, donating clothing to a women's shelter, or disaster relief).

Philanthropy – Giving that focuses on improving longer-term outcomes. Provides financial resources to help research and drive change and looks at the root of the issue or cause.

Intentional Investing – Making a difference in society through the intentional placement of all or a portion of your investments. These types of investments can generate social and environmental impact, as well as, in some cases – financial return (e.g. impact investing, Environmental Social & Governance (ESG) funds, Socially Responsible Investing (SRI), or purposefully not investing in companies that cause the type of harm or impact you would like to reduce). When choosing these investments, you may consider a company's commitment to corporate social responsibility or directly investing to positively serve society as a whole (e.g. private equity funds, microloans, or investing in bricks and mortar — for example, investing in an organic farm). For more information on how your investments can have a positive impact on the causes you care about, speak with your RBC advisor.

Patronage – Providing financial support and guidance (e.g. investing in an idea or artist through an online crowd-funding platform, setting up a scholarship or award for a certain discipline through a university or charity that supports research, or directly helping an artist or scientist in need). Some individuals identify that their community includes their family and close friends. They've established an investment account that's set aside as their "charitable dollars;" the funds are then used to help family members and friends who need assistance, as well as to donate to charities.

Combining approaches to create greater impact

Whether it's you as an individual or within your family or as part of a group, remember that how you give back doesn't need to be focused on only one method. For example, if you identify that your focus is to minimize food insecurity in your community, you may choose to give back by doing one or more of the following:

• Baking cookies and delivering them to a senior or family in your community

• Picking up extra groceries and donating them to a food bank

• Buying local organic produce at your farmer's market

• Buying a subscription to an organic farmer's CSA (Community Supported Agriculture) food box (and then talking to your family about where their food comes from)

• Volunteering as a family to help a charity make sandwiches for those in need

• Making portfolio investments in companies that are growing and/or producing food locally

• Establishing a foundation or donor-advised fund with this as its purpose

• Donating to a charity that provides a breakfast or lunch program at your local schools

• Joining the board of a charity that's researching food insecurity and ways to alleviate it

• Volunteering with a local organization that's teaching young people how to grow produce by creating a community garden

Consider what cause or causes you'd like to impact, and how the intended impact can be best achieved given your current ability to commit your finances and time. Take time to reflect on your unique resources of time, treasure and talent. Think about how these can be combined to allow you to make an even greater impact on your community.

If you're inspired to give your time and talents, start by considering what specific talents you'd most like to share or how you'd like your time spent. Then, do some research to find an organization seeking that kind of volunteer.

Regardless of how or through what means you choose to give back, remember that every action helps, and even more so when you are thoughtful in your application of the resources available to you.

Ideas and resources for volunteer opportunities

Contact a local charity that's doing the type of work you want to support and see if they have any appropriate opportunities for you.

Volunteer Canada: I Want to Volunteer - Volunteer Canada

Canadian Volunteer Directory: Canada Volunteer Directory - Canadian Volunteering Resources (canadian-universities.net)

United Way Database: Find Your UWC – United Way Centraide Canada

This article may contain strategies, not all of which will apply to your particular financial circumstances. The information in this article is not intended to provide legal, tax or insurance advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from a qualified tax, legal and/or insurance advisor before acting on any of the information in this article.