Do you ever wish you had your own private foundation?
A private foundation can make it convenient to manage your philanthropy. But what if you could easily give to charity with even better tax benefits? And without needing millions of dollars to get started?
There is a way – create a donor-advised fund account. Donor-advised funds are easy to use, …read more »
The average American household donated $2,974 to charity in 2013 according to The Center on Philanthropy at Indiana University. Each household distributes that differently. In some cases, spouses may have divergent views and an accounting of charitable gifts can range wildly in purpose, ideology, or location. For others, all that giving may be to a single institution, like a church.…read more »
Each month, an expert from the liberty movement will share thoughts on how to be more strategic in our charitable giving. This month, Patrick Reasonover, a filmmaker and founder of Taliesin Nexus, shares his perspective on ways donors can invest in talent and projects that bring the ideas of liberty into the cultural mainstream, primarily through film.
It’s …read more »
Last week, a weighty box arrived in my office. I was immediately excited. Inside, I knew, was my own copy of the new Almanac of American Philanthropy, authored by Karl Zinsmeister and published by the Philanthropy Roundtable.
The Almanac runs just over 1,300 gold-leaf pages that are filled with the stories of the charitable forces that have shaped America. …read more »
What will the next generation do with your wealth? Nearly 80% of wealth-creators believe their heirs will blow it.
Money magazine reports on several studies that show “70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third.” Further, 78% of high-net-worth individuals believe “the next generation is not financially responsible enough to …read more »
In all the talk about setting New Year’s resolutions, I’ve been surprised by one observation I’ve heard from several experts: we often make too many goals. By doing this, we fail to make progress with any of them. A better way is to dig deeper and strive to achieve success with a few select goals.
So let’s just make just …read more »
Are you involving the next generation in your charitable decision-making? A surprising result from the 2014 US Trust Study of High Net Worth Philanthropy suggests that many families are not working together to make giving decisions.
Fewer high net worth households report having family traditions around giving (41.3 percent) than those that do not have family traditions around giving (58.7
…read more »
Give the way you want to give. That should be the goal of any charitable tool. Frankly, it is why many people continue to simply give directly. Over time, though, as one’s giving expands, you may want a tool that will allow you to maintain the emphasis on giving.
We’ve previously discussed the flexibility that donor-advised funds offer to donors …read more »
Last week I made a call I didn’t want to make. A client sent a grant request for an organization that receives a significant portion of its revenue from government sources. I had to tell the client our Board likely would not approve the grant.
Since our founding, one of DonorsTrust’s guiding rules has prohibited grants to organizations receiving more …read more »
This morning’s Wealth Management section of the Wall Street Journal features a short-but-helpful look at the basics of donor-advised funds under the straightforward title of “Donor-Advised Funds: How Do They Work—And Are They Useful?”
The author, Tom Herman, notes a few different ways a donor might use a donor-advised account. One example is of someone who want to …read more »