Support Client Desires To Make A Difference

Giving is a noble act regardless of the amount, motivation or approach. It can be an impulse to show kindness that can take place anytime and anywhere. Or it can be a commitment to tackle a social issue that goes beyond personal satisfaction.

As a trusted advisor, how can you support your client’s desire to make a difference, which in turn will support your business as well as our communities? Here are some steps that you can share with your clients and help turn a simple gesture into an amazing journey of self-discovery and fulfillment.

Step 1: Dig In A Bit More.

Worthy causes are everywhere — from great social needs such as education, health and the environment to investing in arts, culture and much more. There is no harm in supporting any project that appeals to you or is brought to your attention by a friend or family member. You can develop a clear focus by zeroing in on what you care about and want to help change. If your cause is helping children, is there a specific age group, geographic location or life circumstance that you care about? If you can drill down and narrow your interests sufficiently, your efforts can bring about meaningful and lasting change to a particular aspect of the more significant issue.

• Consider supporting the truly disadvantaged groups in the area you focus on. Sometimes the groups most in need are those that are marginalized, such as ethnic minorities, girls, senior citizens or particularly vulnerable populations.
• Does backing social entrepreneurs and market-based solutions seem more appealing? If yes, look at their business models, check their results and see who else funds them. Does their track record show they can scale and bring about significant changes in the status quo?
• Do you care about addressing immediate needs or would you rather address the more difficult work of getting at the root of the problem? Be curious. Ask why the situation is what it is. You can ensure that you are part of the solution instead of supporting unintended consequences.

Step 2: Search For Organizations That Align With Your Goals.

When you have a better idea of what you want to focus on, the next step is to find great organizations or projects that match your goals. Connect with and learn from others who might be interested in the issues and groups they support.

If your focus area is your local community, contact your community foundation, a special type of charity that serves a specific city or region. You can see what they fund, ask for recommendations or fund their special initiatives. Regardless of who you partner with, it is helpful to listen to their priorities.

• Look into philanthropic online marketplaces and crowdfunded sites for ideas. These groups list hundreds of specific projects that donors can give to.

Step 3: Give Efficiently And Wisely.

After selecting the nonprofits you want to help, the next step is to make a gift that works for you and the organization. The easiest way to make a gift is to write a check or make a credit card donation online. However, sometimes, making the best gift requires some extra planning. For example, instead of cash, you can donate highly appreciated, publicly traded stock, allowing you to realize far more significant tax savings.

• Consider an “unrestricted” or “general operating” support gift that can be used for pilot projects or strengthening the organization. Charities need to keep their lights on to function, so allow for some measure of overhead costs too.

Step 4: Follow The Gift

The giving journey is inherently personal, and the path you chart should resonate with your values and experiences. At the same time, revisit motivations that guide your giving and pivot as your mindset evolves. When it comes down to it, for a donation of any amount of your hard-earned money, be sure you know what will happen and that you are excited about it!

• Whether it’s taking a board seat, spending several hours tutoring a child, or helping a nonprofit plan an event, consider volunteering for groups you align yourself with.

You can easily make a charitable gift to any nonprofit as a gesture of your generosity, but choosing a cause or a group that is meaningful to you and your family, for any amount, requires some thought. The energy, time and initiative that you invest in the giving journey can be transformative, or at least personally rewarding and educational.

Dien Yuen, JD/LLM, CAP, AEP, holds the Blunt-Nickel Professorship in Philanthropy at The American College of Financial Services, where she teaches in the Chartered Advisor in Philanthropy program. She also serves as program director of Purpose School, a program she co-created for leaders exploring the intersections of personal purpose and impact. She may be contacted at [email protected].