Exactly one year before he was killed, Dr. Martin Luther King Jr. spoke these words at Riverside Church in New York: We are now faced with the fact that tomorrow is today. We are confronted with the fierce urgency of now. In this unfolding conundrum of life and history there is such a thing as…
Category: Family & Individuals
Donor-advised funds – Powerful giving tool needs sharpening
The fastest-growing tool in the philanthropic arena is the donor-advised fund. DAFs are 501(c)(3) philanthropic accounts established at a public charity. They allow donations of cash, property, appreciated assets and more – and donors receive immediate tax deductions. The DAF legally controls the money from the point of donation. Subsequently, donors can advise the DAF…
Coherent Philanthropy: Six lessons for families
Philanthropy is “coherent” when it is logical, well-organized, well-planned and sensible – as well as easy to understand and articulate. Over the years, I have helped dozens of families, foundations, businesses and family offices achieve coherence in their philanthropy. In the realm of family philanthropy, here are six key lessons. (In a future column, I will…
Upfront Philanthropy: The leading questions for the wealth strategy team
At The DeBoskey Group, we often talk about the philanthropic strategist’s role in family planning as a partner in a group of advisors that address the various components of wealth planning and strategy. The wealth management and investment advisors will be the experts helping to determine what proportion of a client’s assets can be positioned for…
Community foundations are key partners in achieving U.N. goals
The world’s first community foundation was established in Cleveland in 1914. Today, there are almost 1,900 community foundations — 75 percent of them created in the last 25 years. Among these are 1,033 in North America, 670 in Europe, 62 in Asia, 56 in Oceania, 31 in Africa and 11 in South America. Community foundations…
U.N.’s development goals are a roadmap for powerful donor impact
In 2015, the United Nations adopted the 2030 Agenda for Sustainable Development and established a set of 17 Sustainable Development Goals. Let’s put these new goals into a good news/bad news context. Between 2000 and 2015, the world made enormous progress on some of its most pressing problems. For example: The global mortality rate for…
Involve kids early in family philanthropy and give them input into giving
Many of us adults give considerable thought to how we will pass along our money to the rising generations in our families when we die. Far fewer of us also consider how we will pass along our “value assets” – our family’s unique approach to community, giving back and helping others, while we’re living. The…
New study outlines unprecedented financial risk to many nonprofits
Across the United States, more than 1.5 million nonprofit organizations engage in remarkable work to transform lives, communities and the planet. Unfortunately, these organizations currently face a wide range of growing pressures. Consider these facts: In 2013, nonprofit organizations employed more than 10.6 percent of the workforce (14.4 million). More individuals are employed by nonprofits…
Emerging Philanthropists: Laying a Strong Foundation
For emerging philanthropists, I like to recommend a layering approach to defining and strengthening philanthropy: Establish a Connection – Philanthropy tends to be rooted in a deep emotional or philosophical connection to an issue or cause. Maybe that connection has already been established through lived personal experiences or those of family and friends. Connections, however,…
Six trends to affect philanthropic landscape in 2018
When it comes to the world of philanthropy, 2018 promises to be transformational. Pessimists are concerned about the impact of new federal tax laws, the increase in income inequality, and the growing need for critical social services. Optimists see more reason for hope, believing that we have entered the “golden age of giving.” Watch for…