Tis the season of giving back! Charity Navigator’s website states that over 40 percent of giving is done in the month of December. In my line of work, I hear a lot about the economy being down but statistics show that giving is up 4 percent from last year. There are many opportunities to give back within our community and three ways to manifest those charitable inclinations: time, talent and treasure –financial gifts. We will focus on financial displays of generosity. To that point, many avenues exist with regards to charitable giving but the biggest bang for the buck may come through utilizing Donor Advised Funds.
Donor advised funds are a charitable giving vehicle that allows you to contribute cash and other appropriate assets while permitting you to set the investment direction of your contributions. As a donor you will be able to support the charities of your choice and take an active role in the giving process. This investment vehicle helps you to identify suitable organizations and initiatives and advises you on making your charitable strategies even more effective.
At a very young age I was taught to give back and still do in many forms; there are so many ways to do it. It’s not only good for the soul; it’s good for your bottom line. Next year charitable donations may be effected by the fiscal cliff, reap the financial rewards of your altruism this year. Americans are generous people and donate about $300 billion each year to charity, according to a recent report by the Giving USA Foundation and the Center on Philanthropy at Indiana University.
Whether it is passing on a family’s passion of supporting the arts, a religious organization or a favorite alma mater, consider nurturing the future success of others through your gifts. It is simple to give away money but more of a challenge to make the giving effective so that it not only makes a difference but an impact.
SOURCE: Information sourced from MS document Global Impact Funding Trust
Rob Rumley is a Financial Advisor with the Global Wealth Management Division of Morgan Stanley in Atlanta. The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Wealth Management, or its affiliates. Morgan Stanley Smith Barney, LLC, member SIPC.