
- Upfront tax deductions for cash donations of 50 percent and 30 percent for appreciated assets
- Eliminating capital gains on long-term appreciated stocks and other securities
- The ability to accept a variety of assets, including nearly any type of financial instrument
- Professional investment management services
- The ability to name successors
- Create A Mission Statement. Fewer than one in three donors who gift greater than $100,000 a year have a mission statement or written goals for giving. Those who give $25,000 or less per year plan even less often – only 16 percent of the time. Mission statements help provide a clear direction on what grants to make and what to decline. A mission statement does not need to be long or complicated. Even just a few sentences that encapsulate your giving philosophy can help keep plans on track and make sure your money goes to the type of causes you care about.
- Make An Action Plan. Research charities of interest, create a giving budget and explore ways to leverage giving by establishing legacy gifts.
- Test Potential Grantees. Learn more about the organization’s programs, goals and needs with questions such as, “What is your most successful program and why?” You can also assess their resourcing and opportunities by asking things like, “What do private donations allow you to do that other funding sources do not cover?” This will help you give effectively and efficiently.
- Maximize Your Impact. Donors who learned about giving from their parents are more likely to pass it on and teach their own children the importance of giving. Ways to instill and cultivate the importance of giving in children can include things such as providing an allowance allocated to three parts: spending, saving and giving – or family traditions such as volunteer days.