My dad really impressed upon our family the principle that gratitude breeds generosity. He believed that when we take time to reflect on what we’ve been given, it naturally leads us to give to others. That mindset shaped the way he approached life, and it shaped our family as well.
Giving to friends, family, and the causes we care about is always meaningful. Often, the phrase “year-end giving” becomes synonymous with generosity, since many organizations emphasize donations before December 31 for tax purposes. Making gift decisions is fun, or should be, but it can also become stressful when everything is pushed into a short window of time.
You may have determined at the beginning of the year how much you wanted to give away, the destinations and amounts of your gifts, and the accompanying tax deduction. Yet, many people still find themselves working to complete their giving by December 31. Add in a bonus, unexpected earnings, or a mid-year raise, and now you have extra you wish to donate. Could there be a better way?
A donor-advised fund or charitable account can help you keep the joy in your generosity, remove time-of-year stress, and give you the opportunity to more thoughtfully do good and follow your passions.
Donor-advised funds can offer an immediate tax advantage, often for the full amount of your contribution to maximize the tax benefit each year. As you make your giving decisions, the fund could earn additional tax-free gains, allowing you to give even more away.
With tax implications behind you, you have the opportunity to enjoy giving at your own pace, perhaps studying nonprofits that fulfill your passions, finding a new organization to support, increasing gifts to those you are already familiar with, or, with some set aside in reserve, responding to an urgent, unexpected need. Whichever organization holds your donor-advised fund will not only take care of the transactions at your instruction and keep track of your account, but, if it is a community foundation, they can also offer counsel on local causes you may want to consider.
Your donor-advised fund may give you the freedom to be more generous than you imagined. It may even be the perfect opportunity to create a legacy with your family and make decisions together throughout the year. Your children can join you in considering opportunities. You could explore nonprofits together or even encourage your kids to offer suggestions, passing along the principle that gratitude breeds generosity.
Check with your financial advisor and ask if a donor-advised fund might better fit your interest in generosity, align with your tax circumstances, and simplify your approach to giving.
Make an Impact in Greene County
At Greene Giving, we help individuals and families turn their generosity into lasting impact across our community. Whether you’re just beginning your giving journey or looking for a more intentional way to support the causes you care about, we’re here to help. You’re never too early, or too young, to start making a difference.
Jeff Brock, President
