Give Smarter & Make a Greater Impact with Philanthropy
Give Smarter & Make a Greater Impact with Philanthropy What inspires you to give? Most of us give for the same basic reasons. We want to help others, make a positive difference in the world—and giving feels good. It makes us happy, and it connects us to the causes we care about. Studies show that most charitable folks give according to their values or to support causes they care about.
But they don’t always have a strategy around giving. Or a way to monitor for impact. How do you make the greatest impact with your giving? If you’re not sure, you’re not alone. Many folks are passionate about giving but don’t have a defined strategy. Even though strategic giving can pave the way for thoughtful donations of money, time, and resources. And that can help you figure out how to do the most good for the causes that matter most to you.
Want to create your own charitable strategy?
"Giving for impact is a practice that can help change the world."
Check out the questions below to help create your own giving roadmap.
What Values Are Most Important to Me? What am I deeply passionate about? What motivates me day to day? Family, faith, or social causes may come to mind. Your life experiences may also drive your values and motivations. Think about how to align them with your philanthropy.
Where Can I Do the Most Good? What causes don't get enough support? Where could my gifts make a bigger splash? Get specific. Think about narrower aspects of a bigger cause or issue. You can also think more locally, finding smaller organizations that support those issues in your community.
Which Organizations Address the Issue(s) I Want to Support? Which organizations are most effective at solving the problem(s) you want to address? How transparent are they? Do your due diligence before giving. Whether you go with a new or established organization, focus on groups that know what they're doing — and that clearly tell you how your philanthropy will make a difference. Independent organizations such as Charity Navigator and GuideStar can help you identify organizations that use donations wisely.
What Exactly Do I Want to Donate? How much money can I afford to give? What else could I give to support a cause or organization? Beyond cash and your budget for philanthropy, consider other ways to donate. Appreciated assets, time, and your distinctive skills could all be valuable and impactful to the causes you care about.
What Does Success Look Like? What changes do I want to see? What impact do I expect from my donations? How do I evaluate success? Supporting a cause isn't always enough to make a real change in the world. You also need a clear vision of what success looks like to you. If you know what outcome you want to achieve, you can support an organization that approaches a cause in ways that mirrors your vision of success.
FINANCIAL LESSON:How to Refine Your Giving Strategy for Higher-Impact Philanthropy
I’ve seen first-hand how the joy of giving and making an impact through philanthropy can change your life.
When we give, we activate our brain’s pleasure centers. That’s one reason why philanthropy can feel so great.
Creating a values-based strategy can not only increase the satisfaction of giving, but also help create greater change in the world.
When we look inward and think carefully about why we want to give and what we really want to achieve, we can get a clear idea of our motivations and goals for philanthropy.
And, we can start harnessing the financial and tax benefits of giving.
Want help incorporating more philanthropy into your financial life? I’m here to help.
Paavan Kotini, CEO & Principal Advisor Kotini & Kotini (804) 372-8307 https://kotiniandkotini.com