The Joy of Giving
I’m back! The “AMA Foundation” column is one of the many chores of the AMA Foundation chairman, and it has been nicely achieved in unison with many other responsibilities throughout the past few years by the current chair, Bud Layne. However, at the time of this writing, Bud was in Kentucky, where they were having ice storms, so he had his hands full. Here in Arizona, the weather was 77° and our local club was hosting Winter Warbirds, with many pilots enjoying the beautiful Phoenix winter weather, so AMA Foundation Executive Director Steve Haston asked whether I could fill in with writing this month’s column.
On short notice, I reflected on the appropriate thoughts. It raised an emotional response for me as to why we give. It’s a simple question, with a simple answer: I believe many—or most—individuals give because they enjoy it. This became a reality for me many years ago when I recognized that an increasing number of my clients who had amassed wealth started donating their time and/or money to causes that they really cared about. Gaining this insight profoundly changed my viewpoint of giving versus receiving.
Expanding on this topic, I did some research for this column to better explain why giving provides more long-lasting joy than receiving. The joy of giving is a profound emotional and physical state that is characterized by a sense of purpose, fulfillment, and a “helper’s high” that occurs when we contribute to the well-being of others.
Key Dimensions of Giving
- Biological Benefits: Giving triggers the release of dopamine, serotonin, and oxytocin, chemicals that naturally improve mood and foster social bonding. Research indicates that givers often experience lower blood pressure and reduced stress levels.
- Long-Lasting Happiness: Unlike the fleeting pleasure of receiving, happiness from giving is more resistant to “hedonic adaptation,” meaning that its positive effects often last longer.
- Spiritual Fulfillment: Many faiths view giving as an act of worship and a way to align with a “higher purpose.” It shifts the focus from personal lack to abundance, fostering a sense of gratitude and contentment.
- Social Impact: Generosity builds stronger community bonds and creates a “ripple effect,” where one kind act inspires others to pay it forward.
AMA has a list of support activities that extends beyond basic member services. Those support activities are funded by a small percentage of the annual membership dues. As a refresher, a short list includes Flying Site Improvement Grants, college scholarships, pre-college STEM programs, and community advocacy, to name only a few. Your cash donations and estate-planning bequests to the AMA Foundation allow us to augment those activities exponentially.
This is why we seek your donations with a smile and why AMA members feel the “joy of giving.”
Dan Bott has served on the AMA Foundation Board since its inception in 2014. He served in the past as the chairman and is currently the vice chairman. A Life Member of AMA since 1988, Dan professionally has been an investment consultant with major Wall Street firms since 1975.
