Philanthropy, Where and How to Give
Philanthropy is defined in the dictionary as the desire to promote the welfare of others, expressed specifically as the donation of money to good causes. The giver generally does not expect any remuneration in return, though some philanthropists find their name on sides of buildings, etc. Today, there are thousands of charities to which you can donate and support a cause that you find important and that aligns with your morals and interests. As a financial advisor, whenever I worked with individuals or couples, I always included philanthropy in our conversations. Being intentional about the positive impact you want to make through future donations ensures that both you and your chosen charity reap the positive benefits of your generosity. So, what constitutes a philanthropic donation? You don't have to be a Bill Gates or a Melinda French Gates to become a philanthropist. There are, however, steps you need to take to make sure you are participating in what you want, to make sure your donation will be directed as you intend, and that the charity's goals align with your own. Do your homework and don’t rush into donating. Not all charities and foundations are created equally. Free online resources such as Guidestar.org and Charitynavigator.org can help you to learn more about charities’ sources of income and expenses.
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