“Rob, your choice of words sometimes. The Great Recession scared the ‘what’ out of people?” The bejeebers. The Great Recession scared the bejeebers out of a great many people and they still remember it. Seriously. Making an outright current gift in cash to charity has lost a bit of its luster these past few years in favor of remembering causes important to the donor in their will or estate plan, or via other gift vehicles I call “The Big Three.” What to do about that? The first thing I suggest is to turn to page Six of The Weekday Blog.
To fully appreciate Giving USA it helps to know where it came from. 65 years ago, a consortium of fundraising consulting firms was known as the AAFRC – the American Association of Fundraising Counsel. They decided it would be a good idea to figure out who in America was giving money to what. And from those humble beginnings was born the granddaddy of research publications we know today. https://givingusa.org/about/ The most frequent use of the Giving USA data is the quick snapshot we give to board members, trying to explain that individual donors (now and through their estates) give the
I do not think it’s exaggerating to say this is the biggest news in fundraising research in the last five years: https://www.propublica.org/nerds/new-search-full-text-of-3-million-nonprofit-tax-records-for-free I will let the article and the resource speak for itself. Suffice to say that if researching other nonprofits, and nonprofits that support them, leaders and board members at those nonprofits, you’d be wise to get familiar with this immense new contribution from ProPublica.
Many more Americans these days own shares in mutual funds than own individual stock. So you’d think gifts to nonprofits of mutual fund shares would be much more commonplace than gifts of stock. You’d think so, and I thought so once, but that is not the case. The typical development shop will see stock gifts every so often (if you let your donors know you accept them, and how to convey that gift). Gifts of mutual fund shares are somewhat rare, actually. Here’s what to do when you receive that gift of mutual fund shares. I’m sorry to say it
Seems to be too soon to tell. https://on.mktw.net/2GqPgpD
Gifts of stock. There are very few gift vehicles that provide more benefit to the donor. It’s one of my “Big Four” ways of giving donors often forget about. We’ll talk about the other three in another post soon. Gifting stock to a charity allows the donor to claim the full present market value of the stock and not owe a penny of capital gains tax on the appreciation of the stock. Where the 3.8% Net Investment Income Tax applies, a gift of stock escapes this tax, as well. To start: the stock must be owned by the donor for
11 years ago Tiger Woods was on top of the world. He was the best golfer of his time. Wealthy beyond imagination. A beautiful wife, homes, boats, friends, you name it. He was also smug, cocky, abrupt and a serial cheater. Then he got his comeuppance. When Tiger would swing a golf club the twisting, or torque, was more than his back could endure. It gave out. He would swing a club and literally collapse on the ground. His golf game evaporated as had his marriage. Conventional wisdom held Tiger would never again make a cut in a golf tournament,
I was thinking this past week about the biggest gift I never got. He was a very successful investor and an equally successful philanthropist. What I remember most is that he was a very nice man. He lived on the priciest block of real estate in Chicago. Going to lunch with him was an “invigorating experience.” Believe me when tell you, he was in the big leagues. One of the smartest people I ever met, he was not particularly intimidating, yet somehow you felt the need to be at your best. I won’t be so intrusive of his memory to
Has anyone ever asked you what a gift is? One morning I was having breakfast with the late Jimmie Alford who, by the way, was a very nice man. I asked him, “We talk about gifts all the time, but how exactly would you define a gift?” “Rob, that’s a very good question, actually. No one’s every asked me that before, I confess. Can you give me some time to think about it?” Here’s what Jimmie sent me: “We define a gift as any asset conveyed by the donor to the ownership of the organization that can be applied to
I was at a conference and got to know a talented development professional who was new to our field. During a break from the morning session, this young man turned to me and said, “You know, Rob, the very best thing about development is that everybody wins. “The donor wins. “The institution wins. “And the development officer wins. I love that about our work.” I told him and I will tell you, those are profound words.