Giving Tuesday began in 2012 with a simple idea: a day dedicated to inspiring people to do good. Over the years, it has evolved into a year-round global movement, inspiring millions to give, collaborate, and celebrate generosity. The landscape of charitable giving has transformed significantly since 2012, offering donors more solutions than ever before.
Direct Charitable Giving: Many donors prefer to streamline their charitable giving through one-time or recurring direct donations to a nonprofit organization aligned with their values. The immediacy of impact, personal connection to the cause, and flexibility in choice are often the preferred charitable giving vehicle for most individuals and families.
Time and Talent Contributions: Donors can also extend their impact beyond financial contributions by volunteering their time and skills. Whether through a local charity, community center, or food bank, a donor’s hands-on involvement is often the greatest value-add to a nonprofit organization. Donors should also consider using their unique talents to contribute to projects or initiatives in need.
Matching Gift Programs: Donors can amplify the impact of their generosity through employer matching gift programs. Many companies match their employees’ charitable contributions, effectively doubling the reach of targeted charitable giving. Donors should check with their employers to see if such programs are offered to maximize the power of their charitable giving.
Donor Advised Funds: Donor advised funds (“DAF”) are an increasingly popular charitable vehicle that allows donors to make charitable contributions directly to their DAF, receive an immediate tax benefit, and recommend grants to nonprofits that align with their values over a greater time-horizon over time. This centralized approach simplifies record-keeping, making it easier for individuals to manage and track their philanthropic activities. Donors often appreciate the heightened privacy and flexibility to strategically plan their charitable giving over the long term.
Planned Giving: Planned giving provides donors with the opportunity to carefully and strategically deploy their charitable giving to causes and organizations that align with their values beyond their lifetimes. Donors can develop intentional and thoughtful structures to deploy assets toward the causes and organizations that will engage and inspire future generations, and ultimately, enshrine a familial legacy.
While this is just a small sample of potential charitable giving strategies available to donors, this Giving Tuesday, I encourage you to give, collaborate, and celebrate generosity.