Why should I talk to my clients about charitable giving?
To better understand your clients’ motivation for and knowledge of philanthropic giving, consider these questions.
1. What has been the most gratifying charitable gift you have ever made? Why?
2. Have you volunteered anywhere? Which volunteer experience has been the most rewarding?
3. Of your fundamental values, which would you like to express through your giving?
4. When you think of the challenges facing our community now and into the future, what are your biggest concerns? Are they the focus of your current or future giving?
5. Consider your history of giving. Would you do anything differently if you could?
6. What role has philanthropy played in your family? Is it what you would like it to be… or would you like to change it? Are your children and grandchildren aware of your philanthropy?
7. What would you like to accomplish with your giving? Do you think this is possible?
How do I know if giving through the GiveWell Community Foundation is right for my clients?
1. Does my client care deeply about our community?
2. Does my client give to more than one cause or charitable organization?
3. Is my client interested in leaving a personal or family legacy in the community?
4. Is my client considering starting a private foundation? Are they aware of the cost and administrative complexity?
5. Is my client looking to make and outright gift or are would they like to stay actively involved in the use of their gift dollars?
6. Does my client want to receive maximum tax benefit for their charitable contributions under federal law?
7. Does my client place a priority on sound financial management of their contributions? 8. Are measurable results of their philanthropic gift important to my client?
If you answered yes to any of these questions, your clients may be very interested in learning more about the GiveWell Community Foundation.
What are the tax benefits for my clients if they give through the GiveWell Community Foundation?
When does it make sense to suggest a charitable gift?
How can my client provide support for their favorite nonprofit through the Community Foundation?
A designated fund provides regular, annual funding to one or more specific nonprofit organization and can be set up to allow the organizations to build the fund over time. Each year, the earnings from the fund can be distributed to the nonprofit or retained for future use. In both instances, the GiveWell Community Foundation handles all of the administration, record keeping, and financial statements for the funds and of course keeps you in the information loop.
How much control and freedom would my client have in recommending gift recipients, including faith-based organizations such as their church or synagogue, through a donor advised fund?
It’s important to point out however that in complying with federal tax laws, and for the protection of your client, the Community Foundation must reject grant recommendations that would benefit an individual, fulfill a personal obligation, support a political campaign, or a private foundation.
How does a donor advised fund work?
What is the minimum gift required to start a fund?
What type of assets can my client use to start a fund?
Cash Stocks, bonds and mutual funds Life insurance Closely Held Stock Real Estate
Charitable bequest Charitable trusts Life insurance policies Life estate Retirement account assets
Can my client name a successor to the fund?
How do GiveWell Community Foundation's costs compare with those of commercial gift funds and private foundations?
Establishing a fund at the a Community Foundation is considerably less expensive than starting a private foundation since we handle all administrative details, including filing annual tax returns, performing due diligence on grants, and all details associated with processing and tracking grants. In addition, there are no setup fees.