Most of us can think of something we fully intend to do—someday. Organize the photos. Update the estate plan. Reboot the exercise routine. Charitable planning often falls into that same category.
We hear from many generous people who care deeply about their community and fully intend to “do more” with their philanthropy. But life is busy. The calendar fills up. Markets fluctuate. Family and business priorities shift. If that sounds familiar, you are not alone. And it is not a sign of indifference. More often, it reflects uncertainty.
The Winona Community Foundation can help you shift gears from intention to action. Here are three principles that guide our work with donors in this situation.
Take it one step at a time
One of the most helpful mental shifts is to think of charitable planning as a multi-step process rather than a single, all-or-nothing decision. In many cases, a tax planning need takes precedence because of concrete deadlines and tax year considerations. We understand! That’s why we are happy to help you establish a donor-advised fund, for example, to meet an immediate tax planning need. With that time-sensitive box checked, we’ll move on to discussing how you’d like to deploy the fund’s resources, involve family members in the decision-making process, and adjust your giving as your interests evolve.
Keep it simple
Sometimes the hardest part of giving is not generosity, it is decision fatigue.
You might be asking yourself, “Where should I give?” Often, that’s not the best question to ask right out of the gate, especially if you are new to philanthropy. We can help you work through key threshold questions including:
–As I look back on my charitable giving, what areas of focus seem to jump out?
–What specific charities have I supported over the years?
–Why have I supported those charities?
–Is there anything about my areas of focus that I’d like to change going forward?
As we explore these questions together, we can provide insight on local nonprofits and community needs.
Adopt long-term thinking
Community change does not happen overnight. You may find that your charitable intentions include not only providing annual support to favorite charities, but also making a meaningful difference over many years or even many decades that extend well beyond your lifetime.
Foundation staff can help you structure not only a donor-advised fund, but also other types of funds or a legacy plan. The bottom line is that we are here for you along your entire charitable giving journey. We’ll work together to build and implement your philanthropy plan brick by brick for the years to come.
The Winona Community Foundation offers a range of charitable options and funds for individuals, families, businesses, and nonprofits to accomplish their philanthropic goals. As your trusted partner, resource, and steward for community philanthropy, the Winona Community Foundation is committed to helping every individual give back in a way that is both meaningful to them and the causes they care about. Contact us to learn more.
