At some point during your adult life, you’ve likely realized that it would be wise to put in place a will, trust, and powers of attorney, as well as undertake at least a basic level of financial planning to stay on track with retirement and other wealth-related goals for yourself and for your family. Perhaps you’re also among the many people who have thoughtfully incorporated charitable giving strategies into a comprehensive financial and estate plan.

If you’ve not yet wrapped charitable giving provisions into your will, trust, and financial plans, it’s never too late (or too early) to do so. The Fond du Lac Area Foundation is happy to work with you and your legal, tax, and wealth advisors to set up charitable giving structures and processes that align with your intentions to support favorite charities and causes, as well as reinforce the tax and estate planning objectives you’ve set in motion. 

Indeed, formalizing your charitable intentions can bring a deep sense of purpose. By incorporating charitable giving into your estate plan, your values and philanthropic commitments can continue beyond your lifetime.  

What’s more, lifetime charitable giving can be part of a strategic wealth management plan, allowing you to optimize your financial resources while supporting causes you care about. For example, charitable income tax deductions for your donations may reduce your taxable income and lower your annual tax bill. Plus, donating appreciated assets, such as publicly-traded stock held for more than one year, can help you avoid capital gains taxes. In addition, dollars flowing to charities following your death can help minimize the burden of estate taxes.

The Fond du Lac Area Foundation team would be honored to help you develop a philanthropy plan, starting with lifetime giving and incorporating estate gifts as your legacy intentions take shape. As you consider whether the time might be right for you to formalize your charitable giving, here are three tips to consider–all of which your community foundation can help you achieve:

Give to what you know. Most people experience the greatest joy from giving to causes that are personally familiar. Personal experience makes it easier to understand how the charity is using your dollars. So, for example, if you’ve had experience with helping foster children, you are likely to understand how the organization is using your donation to support training for foster parents. Please ask the Fond du Lac Area Foundation team for insights! It’s our job to keep up with the good work of charities that are meeting local needs. 

Give where you are. Even with the increasing number of community challenges across the country and the globe, sometimes the greatest needs are right here at home. The Foundation team can help you identify opportunities to support local charities by gathering information about the overall need and how a particular charity addresses that need. When you give to local organizations, you are in a strong position to have confidence in your gift.

Give to the causes you love. Donations to charities that are aligned with your own passions make you feel the best and ultimately make the most difference because you’re likely to continue giving. Our team is here to help bring your community dreams to life through the power of philanthropy…and that feels great! 

If you’ve already established a donor advised fund (or other type of fund) with the Fond du Lac Area Foundation, or if you are considering getting started with the community foundation this year, we are here for you! We are honored to serve as your home for charitable giving. Our team looks forward to hearing from you.

We are available by phone at 920.921.2215 or email info@fdlareafoundation.com!