Why do I need a 501c3?

1. Helps You Stay Positive – When you start a charity that serves food to the homeless, donates clothes to people that do not have anything to wear, or raises money to find a cure for people dying of an incurable disease, it makes it much easier for you to remain positive and thankful at work or when you are managing your responsibilities as a spouse, partner, parent, sibling, aunt or uncle, mentor, etc. 

This is because giving back to others can help you keep things in perspective and know that there is always someone worse off than you. Instead of complaining about your hardships, you will hopefully instead choose to think of the dire situation the people you helped are in and will be thankful that your loss or disappointment could have been far worse. 

2. Motivates You to Keep Going – When you know your efforts are working toward a greater good, it inspires you to keep going because you know people are depending on you. The success of your nonprofit or your career accomplishments may no longer simply mean buying a new car or taking an extravagant vacation. Instead, when you know that you have committed to giving away a portion of your earnings to the 501c3 nonprofit you’ve started, your personal success means improving a local school, building low-income housing for the needy, providing college scholarships, or any other charitable act. I’m always encouraged by book sales because I use a portion of the proceeds to support deserving charities that are making a difference. You can do the same! 
3. Helps You Handle Failure – When things do not work out for you, if you have been giving back to others through your 501c3 nonprofit, it should help you to not take it personally since you know from your charitable work that failure is just a part of the road to success. For example, if you’ve been encouraging military veterans to embrace a fresh start with new career opportunities, it should remind you that if you ever have to start over – it’s not the end of the world. 
4. Helps You Handle Stress – Helping others helps you get your mind off of life’s disappointments. If you find yourself feeling depressed, try taking the focus off of you by focusing on meeting someone else’s needs. You may find that you will have a better perspective since you are reminded that there are people dealing with far more severe situations than you and that your situation may not be as bad as you thought. 
5. Attracts Good Things to Your Life – I have found that the more generous I am with my time (mentoring, helping, and investing in others) and my money (donating to support my 501c3 nonprofit as well as other people’s charities), the more I find that people unexpectedly offer to help me or invest in my endeavors without me even having to ask. Never expect the people that you help to reciprocate. Instead, just know that God will bless you in other ways by your generosity toward the less fortunate or people in need. 
6. Helps You Enjoy Your Successes – Success can be an unending quest. We can become so consumed by it that instead of even seeing the success we currently have, we are in constant pursuit for more. There is nothing wrong with setting new goals and pursuing them. However, we just want to make sure we’re balancing our ambition with thankfulness for what we already have. Spending your time focusing on the needs of others should help you see success in any accomplishment, big or small, and have a more complete appreciation for your own journey. 

These are just a few of the personal benefits that come as a result of giving back through your own 501c3 nonprofit. There are so many more but for the sake of time, we are going to move forward. Now that we know some of the ways a 501c3 nonprofit can benefit you personally, let’s address the myths that hold some people back from starting their nonprofit.