The Giving Spirit

Recently, cable TV tycoon Ted Turner challenged America’s wealthy by promising to give away one third of his wealth over the next ten years. His first gift? One-hundred million dollars to the United Nations. Giving makes Ted feel good. This magnanimous gesture, and his promise of nearly a billion more by 2007, certainly gives pause to America’s rich, and maybe it should to the rest of us, as well.

Mr. Greg Rabago (right) donates money to President Emil Javier (center). Dr. Tony Racela (left) accompanied President Javier during a fund raising tour of California in June, 1997.

But, you might ask, how does this really affect me? I’m no Ted Turner. What’s a billion dollars if you’ve got another few billion laying around? That’s a good question. The average citizen can’t give away a third of their wealth over ten years. Or can they? Let’s take a look at it. Say you make $50,000 a year. Your mortgage, car payments, food, and other cost of living expenses run you $28,000. Taxes and your IRA eat up about $13,000, and you’ve got another $9,000 that goes toward discretionary expenses. Now, its this $9,000 that’s really your wealth. You choose how you spend it. Maybe a third of it goes toward a vacation. Maybe you decide to spend half of it as a down payment on a new car. Its your money. Its up to you.

But, what if you were just like Ted Turner? What if a charity like the Friends of the University of the Philippines Foundation in America (FUPFA) got $3,000 dollars of your money? Your tax bill would fall by at least $1,000. Somewhere, someone’s life would change for the better. And, you would be rewarded with that feeling Ted Turner’s been after. Yes, giving makes you feel good.

One anonymous UP benefactor said, “In the Philippines, people who have discretionary income always feel obliged to give. My father taught me this. He didn’t have much by American standards, but he had more than many others in our village. Every time he was asked, he would give. It got to the point that he had to tell everyone that he only gave on Fridays. People would line up outside our door at the end of the week. When I asked him why he gave so much away, he said, “it makes me feel good. I used to be poor and it is now an accomplishment that I’ve reached a point in my life that I can give.’ “ Maria Luisa Cajucom-Delgado, BSE ‘52, a FUPFA Centennial Gift supporter is a retired New York City teacher. She said, “I feel blessed for what I am today. I am truly thankful. I know I owe it to the U.P.”

So with Christmas upon us and our last chance to donate for the 1997 tax year, Friends of UP asks you to remember your alma mater, remember someone’s father in Philippines, and remember Ted Turner. Because when it comes to giving, you can feel as good as the average billionaire.

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