April 29, 2016
Charitable donations have long been important to people with a passion for their community, a cause or an organization.
Now, many families are considering their philanthropic legacy more holistically, as part of their ongoing financial planning. Many families want to see the impact of their donations within their own lifetimes, and they expect charitable organizations to produce measurable results.
Mike Penfield, National Director of The Charitable Services Group, and Scott White, Trust Product Owner for U.S. Bank Wealth Management, discus show donors can benefit in a new philanthropic landscape.
What are the new trends in charitable contributions for 2016?
PENFIELD: The opportunities for effective philanthropy are dramatically expanding. One example is the tremendous growth of donor-advised funds. Private foundations also continue to evolve into more focused, cost-effective
and user-friendly organizations, and impact investing has become an important strategy for many.
WHITE: People are becoming more conscious of where their assets are going and the measurable benefit and impact they are having. Many donors desire to give during their lifetimes rather than through a bequest. There is also a desire to manage the grant process in a disciplined way rather than through lump-sum gifts at death.