Over the years, you’ve no doubt experienced a wide range of what clients perceive as “wealthy.” You’ve likely also observed that clients have different assumptions about what it takes to be a “philanthropist.” The interplay between a client’s perception of personal wealth and charitable giving capacity presents interesting opportunities for client engagement. You may find yourself helping a client get comfortable with pursuing their charitable objectives while remaining secure in the knowledge that their financial plan is on track.
Whether clients choose to give charitably or not depends on a lot of factors. Here are a few themes to keep in mind:
Stay within budget. A client’s fear of running out of money may be preventing them from investing more meaningfully in the causes they care about. When savings-minded clients express charitable intentions, you can certainly guide the conversation toward showing them that their assets, income sources, expenses, and long-term projections are in good shape and leave them plenty of room to make charitable donations.
Every gift counts. Some clients who watch every penny are concerned that giving modestly doesn’t really rise to the level of “philanthropist” and might not make a difference. These clients may not realize that everyone can make a difference through small gifts, large gifts, and everything in between. The Foundation team is happy to help your clients get started with giving at a level that makes the most sense for them.
Bang for the buck. We can show your clients how gifts of highly-appreciated stock to a fund at the Foundation can avoid capital gains taxes, thereby freeing up more resources to support nonprofits than if the client had sold stock, paid the tax, and then given the proceeds to nonprofits. Our team can also help identify meaningful giving opportunities based on each client’s budget and areas of interest.
See results. By activating philanthropy plans during their lifetimes, your clients can experience the joy of giving and witness tangible returns on their investments. Our team can arrange for a client to meet with nonprofit leaders to learn the impact their money is making to improve lives. This real-time feedback also allows your client and the Foundation team to adjust giving strategies to more closely align with your client’s evolving intentions.
We look forward to working with you and your clients. Philanthropy is meant to be fun and rewarding for everyone involved. Our team is here to help make that happen!