Better giving: Maximize the effectiveness of your donation
We all want to make a difference with our giving. This course explores ways to ensure your giving makes a difference. I’ll show you ways to give that provide more dollars to your favorite organizations and may save you money on taxes.
This course will provide valuable resources on giving. You’ll develop a giving plan that supports what you value most while potentially saving taxes or taking care of your family. Tax discussions in this course focus on United State income and estate taxes.
The course is divided into four sections that each ask an important question about giving.
Who should I give to?
You’ll clarify the values and causes most important to you. Knowing your values helps you pick organizations that support those values. I show you how to find organizations and how to evaluate how good they are at fulfilling their mission.
What should I give?
I’ll explain the pros and cons of giving cash, donated goods, and investments. Giving isn’t limited to money or assets. You can also volunteer at organizations and buy from for-profit companies that support your values.
How should I give?
You have many options besides giving directly to charities. These options may give you tax savings. One very popular option that’s growing quickly is donor advised funds. Other options discussed in this course include foundations, charitable trusts, charitable gift annuities and pooled income funds.
I’ll also discuss the pros and cons of designating your funds or leaving them undesignated so the organization can choose the best use of the funds.
When should I give?
I show you how batching donations could increase your tax deductions. You may be able to save taxes by donating your IRA funds. Wills and life insurance are two ways to provide significant gifts to leave a legacy to your favorite charities.
The goal of this course is not to encourage you to give more or change who you’re giving to. This course is a labor of love to help people make better giving decisions. Better giving allows you to increase the impact of your giving and make our world a better place.
- People that wanting to make a bigger difference with their donations and who want to pay less taxes through their giving.
- Activity Explanation: Assess Your Values00:51
- Activity: Your Values00:13
- Find organizations that match your values01:22
- Assessing organizations04:28
- Activity: Charitable organization Information Websites00:13
- Giving Plan00:09
- Cash and donated goods02:48
- Stocks, bonds, real estate, and other investments02:21
- Buying from for-profit companies that support your values01:35
- Activity explanation: What to give00:20
- IRS tax resources for charitable giving00:11
- Direct donation to organization01:49
- Donor advised funds and foundations05:04
- Mixtures of giving and receiving03:39
- Designated, undesignated, and endowment gifts03:15
- Activity explanation: How to give00:25
- Developing a giving plan02:57
- Periodic giving01:46
- Batching donations02:35
- IRA donations01:13
- Wills and life insurance02:25
- Activity explanation: When to give00:27
- Congratulations! You have a giving plan.02:02
- Activity: Action plan00:03
- Bonus lecture00:45
Rob Stephens is the Founder of CFO Perspective, where he provides financial consulting and education to small businesses. Rob has a 20-year career that includes serving as CFO for two banks and a health clinic system. He was also Director of Operations at a $4 Billion bank and SVP of Finance of a $2 Billion credit union, where he was Program Manager of an investment advisory group with $170 Million in assets under management. Rob is an adjunct instructor at Gonzaga University.
Rob holds a Masters of Science in Personal Financial Planning and a Graduate Certificate in Financial Therapy from Kansas State University. He received a B.A. in Business Administration from the University of Washington and is a CPA.