The economic stimulus rebates are still weeks away, but the pollsters are telling us that people already are deciding how to spend that money.
There is a lot of advice out there. Spend it; save it; pay down debt. Here's another idea: Donate it.
The idea behind the rebates was to get money swirling around the country. The feds are hoping that the infusion of unexpected cash into most households will lubricate the economy by sending people out shopping again -- for the good of the nation.
The financial advisers also have advice, encouraging people to save the money for a rainy day or use the money to pay down debt.
That's all fine, but the Valley's nonprofits are conducting a worthwhile campaign to say that giving some of it to them makes good economic sense, too. Not only does the gift stimulate the local economy, there's a tax deduction. That's a nice two-fer. If that organization happens to keep kids out of gangs, or alleviate another of our pressing community needs, there's a social profit to factor in as well.
Nonprofits are one of the Valley's growth industries, just like agriculture and construction, and they are included as one of the clusters in the Regional Jobs Initiative. Between 2000 and 2005, for example, the cultural arts industry grew 24%. The expansion of the Metropolitan Museum is going to pump $25 million into the economy and provide many jobs for construction workers. This is not a tin-cup industry.
Every time you donate money so a church can grow, add a new staff member, help a struggling family buy a new washing machine, that's stimulating the economy, too. When the youth organizations can spend money to give training to upcoming new leaders or saving children from gang involvement, that's a good investment. That's called social profit. Experts refer to it as supporting our community assets.
Here are some of the ideas offered by the nonprofits:
Donate all or part of your tax rebate to a nonprofit organization. Give a gift in honor or memory of a loved one. Become a member. Increase your membership level. Sponsor an event or exhibit. Purchase memberships for family and friends. Buy tickets to performances, fundraising and cultural events.There is an ancient tradition known as tithing: giving a percentage of our income for good works. That's always a good idea.And remember that donations to non-profits multiply their way through the local economy, and that non-profits are more likely than most private-sector organizations to spend money locally rather than send it off to faraway pockets. That's the sort of investment that pays real dividends to all of us.