Giving Compass' Take:

• GlobalGiving's Smart Giving 101 Guide explores 10 giving myths and how philanthropists can work to overcome them. 

• How will this information help inform your giving? 

• The Lilly Family School of Philanthropy debunks eight more myths here. 

MYTH #1: My donation is too small to matter.
Reality: Your charitable donations, no matter how small, are essential to the survival of nonprofits in your community.

MYTH #2: Making a donation to a nonprofit does not benefit me.
Reality: Evidence from multiple studies shows people are happier when they spend money on others rather than themselves

MYTH #3: Being a philanthropist just means giving money away.
Reality: It is not just about money—philanthropists can contribute their time, money, and participation.

MYTH #4: Fundraising costs should be kept as low as possible.
Reality: Spending on things besides programs and direct services, including fundraising, is actually vital.

MYTH #5: Nonprofit CEO and staff salaries should be kept to a minimum.
Reality: Fair and competitive staff compensation helps nonprofits recruit and retain top talent. Nonprofits work on complicated social problems; they need the very best professionals on staff to solve them.

MYTH #6: The best way I can make a difference is to start my own nonprofit.
Reality: Often, you can make just as much of an impact by supporting or collaborating with existing, like-minded organizations that want to scale up or build their capacity.

MYTH #7: Nonprofits are irresponsible with donations.
Reality: Scams, misuse of funds, and other stories of immorality may make the news, but this poor behavior is an anomaly among the nearly 2 million nonprofits that operate in the U.S.

MYTH #8: Nonprofits cannot make a profit.
Reality: Nonprofits actually can make a profit (and some aim for a small amount of profitability to ensure sustainability).

MYTH #9: Most nonprofits are large and do not need my money.
Reality: The majority of nonprofits in the U.S. are small, grassroots organizations with annual budgets of $1 million or less.

MYTH #10: Nonprofits cannot get political.
Reality: Nonprofits can and do lobby on behalf of their constituents for all kinds of causes.

Read the full article on giving myths by GlobalGiving. Access the complete Smart Giving 101 guide here.