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Filter By Category: Charitable Giving & Philanthropy

You’ve established your philanthropic intentions, set your charitable goals, and are ready to start making an impact. Now what? It’s time to learn some charitable giving basics, so you can make the most of your dollars and understand where philanthropy fits in with your overall Private Wealth Design.  With that said, we’re going to hit on 3 charitable giving strategies that are often forgotten but can help maximize your financial opportunities. Let’s dive in.

When you’ve grown significant wealth over the years and you want to use it to make a positive impact on the world, there are much more effective ways to do that than simple “checkbook giving” to your favorite charities. Each method of charitable giving has its own benefits and setbacks, rules and regulations, so it’s important you see all your options and understand why it’s worth considering one over another.

Transformational gifts got their name for a good reason—they have the ability to positively support or redirect the trajectory of a program, project, or even organization. Transformational gifts can take many forms, from endowing a scholarship fund to supporting the construction of a new building, creating or expanding a community support program, and more. A transformational gift doesn’t necessarily mean a huge donation amount.

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A Donor Advised Fund (DAF) is a type of charitable giving vehicle. Here are some basics on how they operate: You receive a tax deduction in the year you make a contribution equal to the full value of the assets you contributed. Contributions can be made at any time during the life of the DAF. You can distribute donations on a flexible time table ( there are no minimum or maximum annual distribution requirements).

As an investor, you can opt to donate a variety of financial assets, from government bonds to mutual funds as well as cold hard cash. For certain investors, directly donating shares of a publicly-traded stock can also be one of the most appealing ways to contribute to a cause they care about. Donating stock can even yield a number of tax benefits, which can be a welcomed bonus.

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