Getting to The Heart of The Gift

The “Gospel of Wealth” according to Andrew Carnegie: “He who dies rich, dies disgraced.” “Great gifts mean great responsibilities; greater gifts, greater responsibilities!” Luke 12:48 The Message

Our Agenda: ◦ The Planning Horizon – what is it? ◦ Financial Plan – prudent or inspired? ◦ Social Impact – what is it? ◦ Motives for Giving – what are they? ◦ Family Philanthropy – is it important? ◦ The Donor Dialogue – how to engage?

The “Planning Horizon” is a metaphor that may be used to distinguish between the “why” and the “how” of gift planning. “Why” “How” Above the line conversations surround the donor’s deep and personal intent – meaning, purpose, impact. (for us to pursue) Below the line surround the strategies and products that can achieve their goals – the tools and techniques. (for the professional advisor to pursue)

What is our role in the gift planning process? Phil Cubeta, The American College: ◦ “We need to become comfortable with holding a dialogue around meaning, purpose, goals, aspirations, and social impact.” ◦ “Be sensitive to mission-alignment of your donor to your church or institution.” ◦ “Consider hosting gatherings regarding the mission/ministry of your church/institution.”

Tracy Gary, Author and Consultant: A “prudent” financial and estate plan takes care of self, spouse, and heirs. It provides “enough.” An “inspired” plan, by contract, also includes funding for what we call social impact, a positive result in the light of the donors’ ideals, on the larger community – the church!

“Social Impact” - the impact the gift has on society – health, poverty, education, religion, arts, environment, etc. (the ROI of philanthropy)

Peter Karoff, Author and Consultant: ◦ Motives for Giving  Bind a family together  Build a bridge between the world of those who have and those who don’t  Create an opportunity to give back and make a difference  Be an intergenerational glue  Make the notion of legacy real  Be intellectually and spiritually satisfying  Be a way to have fun!

What’s the big deal about “Family Philanthropy?” Charles Collier, Harvard College and author of Wealth and Families (M.Div.) says every family should ask: What is really important to your family? What are your family’s true assets? What should you do to guide and support the life journey of each family member over time? How wealthy do you want your children to be? Do you feel you have a responsibility to society?

Ellen Remmer, Author and Consultant, suggests the following for families: Consider the 3-part allowance for children: 1/3 to spend 1/3 to save 1/3 to give away Also, consider volunteering together.

Some “Above the Line” questions to get the dialogue going… In what kind of world do you want to live? What are the conditions needed to realize it? What are the obstacles that would prevent it? What keeps you awake at night? Where do you volunteer? Do you serve on any charitable boards?

Questions, continued… Do you think it is important for children to volunteer? What charitable gifts have given you the most satisfaction? When you think about what parts of the community have helped make you who you are, what comes to mind? Where, beyond self and family, would you like to have a positive impact? What would you like to preserve, or change, in your lifetime? Do you want to have an impact now, later, at death, or after death through those who come after you?