Articles Tagged with Philanthropy

5.7.19At 65, Americans are shifting their focus from accumulating to giving of time and resources. It seems like a natural progression: after living for more than six decades, there’s a greater understanding of what matters.

The generosity of the 50 million Americans over 65 may be in part because of their perspective, but it may also reflect their controlling more assets and having a higher net worth than any prior generation. The Federal Reserve says that the average net worth for Americans age 65-74 is $1,066,000. The median American net worth is $224,000.

The Denver Post reports in the article “On Philanthropy: Giving in the last third of life,” that older Americans are the most generous generational group in the country. Those born before 1964 are responsible for almost 70% of all charitable giving.

Money giftToday, with smaller families and more women choosing not to have children, “the dynamic has changed pretty significantly for the generation of baby boomers. The option of doing something charitably significant with their estates is a change,” he said.

The New York Times recently touched on the subject of estate planning without a family.  It is an important topic for those without future generations to inherit their assets. If this issue affects you or someone you know, then be sure to read the article titled “In Estate Planning, Family Isn’t Always First.

In the beginning and in the end, estate planning is always about disposing of your assets. Both in popular imagination and in the laws on the books, this commonly means the how and why of giving it to family members. Nevertheless, even with no lineal heirs to inherit your assets, there remains important decisions to be made. Optimistically, this means the sky is the limit.

Th Picking the right charity can be so complicated that it makes picking stocks look easy.

When you give to charity, do you ever wonder if your donation is really going where it's intended? Or if your gift is doing the work you intended?

If you are wrestling with these and similar questions, you may be interested in a recent article in The New York Times titled “Donating, and Making Sure the Money Is Put to Work.

Money tree[Donor-advised funds] promise a number of advantages over foundations, such as lower annual costs, more privacy and no required minimum payout each year. A big difference between the two is control.

Running a charitable foundation can be richly rewarding, yet exhausting. Now there is a popular alternative to a full foundation and a move to collapse back into what is known as a donor-advised fund.

If you or your family run a charitable foundation and are considering this alternative, The Wall Street Journal had a few points to consider in a recent article titled “Risks to Consider With Donor-Advised Funds.”

ThAbout 50 years ago, only 5% of the total assets of America's largest 50 foundations were held by spend-downs. In 2010, that number had risen to 24%, according to Bridgespan Group in Boston.

Today's charitable foundations seem to be shifting from maintenance for longevity to spending down and winding up.

This trend was identified in a recent article in The Wall Street Journal titled “The Rise of Spend-Down Philanthropy.” The hard numbers in the article come from an analysis by the Bridgespan Group which found a marked jump in spend-downs. As reported there, “About 50 years ago, only 5% of the total assets of America's largest 50 foundations were held by spend-downs. In 2010, that number had risen to 24%, according to Bridgespan Group in Boston.”

A-gift-for-you-1105757-sGiving back is about linking passion with action, and it does not have to be complex—but it does have to be well thought out to be effective.

As many well-to-do but generous Americans can attest, your philanthropy can do more than just help the cause or causes important to you. So why not bless your family as well as your charities as part of your legacy?

To make philanthropy a part of your legacy, you do not have to be a Carnegie to have your name put on this or that building. For most of us, our family is our most important and lasting legacy. Consequently, philanthropy can be what binds a family together and passes down real enduring values to the younger generations, all while doing tangible good today.

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