This is the time of year many of us think about the causes we want to support and the ways we can support them. Here’s a quick guide to help you make these important decisions.
I. Determine what causes to support
Perhaps you are really feeling like you want to give back and don’t know how to help. Or maybe you have a cause or several causes that are close to your heart. How do you decide what you care about most? Try using these five guiding questions to help you get started:
- What causes interest or excite you?
- What problems do you hope to see addressed?
- Is there an area where you have expertise or want to learn more?
- What opportunities have changed your life and should be available to more people?
- Is there a population (such as women, LGBTQ, children, or refugees) you care most about supporting?
II. Ways to Give
As you consider your year-end giving, here is a list of options to consider:
- Donor Advised Funds - You can establish a CFAAC Donor Advised Fund with a single gift that allows you to give to the causes you care about most. You will have the opportunity to name your fund and endow your fund to ensure it will honor your legacy.
- Cash
- Appreciated Stocks
- Charitable Trusts
- Charitable Gift Annuities
- Real Estate
- Qualified Charitable Distributions from retirement accounts
- Beneficiary designations for life insurance policies, IRA accounts, bank and brokerage accounts
Philanthropic advisors at CFAAC are available to answer any questions you may have and to work with you, your family, and your financial and legal advisors as you consider the best ways to structure your charitable giving. Please call 443-280-1102 or visit cfaac.org to learn more.
A consultation with CFAAC is always free, confidential, and with no obligation.