How Charities Impact the U.S. Economic System
There is an assumption that volunteer activities and charitable organizations are unimportant and have minimal impact on the country’s economy. This assumption couldn’t be farther from the truth. Charitable activities contribute significantly to the nation’s social, economic, and political sectors. The role of charities is no less than that of the public and private sectors:
Provision of Essential Services
Charities play a crucial role in providing essential services that impact the lives of citizens positively. Some of the works of charities include building schools, hospitals, orphanages, and religious centers.
A Vital Partner to the Government
Charities also serve as a vital partner to the government. They do this by fighting poverty, enhancing personal empowerment, and combating social vices like drug abuse. Charitable organizations aim to narrow the gap between the rich and the poor.
Charitable organizations also play a role in enhancing security in the country by fighting radicalism, extremism, and criminal acts against humanity. Charities mostly focus on poorer people, who are vulnerable to crime, given their harsh conditions and poverty.
Just like private companies, charities must comply with corporate governance in terms of good management, professionalism, accountability, and transparency.