How to think about your taxes like you think about your credit card points

How to think about your taxes like you think about your credit card points

Spend hours thinking through how to maximize your credit card perks? You could be doing the same thing with your donation dollars. With some upfront thinking and strategizing, you can save on taxes while doing good in the world.

  1. Taxable Income = Income — Nontaxable Income, so increasing your non-taxable income (like donations) decreases your tax burden

  2. In order for your donations to be factored into your non-taxable income, you have to exceed the “standard deduction” amount

  3. The standard deduction amount doubled in 2019 due to new tax policy, but the saavy tax payers are using bunching strategies to make their donations count

What If We Told You Doing Your Taxes Should Be Joyful?

What If We Told You Doing Your Taxes Should Be Joyful?

If doing your taxes to you means hours of scrolling through your email to find receipts, or squinting back to remember exactly how much you gave, we’re here to tell you — there’s a better way.

  1. A Donor Advised Fund can help you centralize your tax receipts

  2. A Donor Advised Fund can help you find find meaning in your overall giving and tax exemptions

  3. A Donor Advised Fund can help you save on taxes

What the Data Might Not Tell You: Funding Social Impact Movements

What the Data Might Not Tell You: Funding Social Impact Movements

Significant, system-breaking change takes time - and the impact of a movement is not always clear at first. Here are three questions to challenge your current approach to creating real, large-scale impact.

  1. If you were alive in 1955, would you have funded the Montgomery Bus Boycott?

  2. Today, what data do you need to see before making a donation?

  3. How diversified is your giving portfolio in terms of “time to impact” and “method of change”?

How to Endow a Scholarship Today: Short Term Goals for Long Term (Meaning Forever) Impact

How to Endow a Scholarship Today: Short Term Goals for Long Term (Meaning Forever) Impact

Three Things to Know:

If giving back is important to you, and you’ve considered starting a scholarship fund or some other endowment in the future, we’ve got some good news:

  1. You don’t need to be a millionaire to endow a scholarship. You can start today. Like, today Today.

  2. If you can save 2% of your salary, you could create a multi-generational legacy in just 5 years.

  3. Using a Donor Advised Fund (and some quick spreadsheet math) can help you reach your scholarship Goal faster through better investment returns.

Why You're Asking the Wrong Questions About Your Donations (And what the right questions are)

Why You're Asking the Wrong Questions About Your Donations (And what the right questions are)

Finding the right philanthropy strategy is a lot like finding the right investment strategy. Consider making your decision based on:

  1. Time Horizon: When will your impact materialize?

  2. Risk Tolerance: How willing are you for the program to fail, in the hopes of a major success?

  3. Thematic Area: Which impact area(s) do you want to focus on?

  4. Liquidity: How much of your donation strategy is ad-hoc, versus long-term?

  5. Diversification/Asset Allocation: How do you balance your portfolio across organizations, and how many organizations do you choose to give to?

Three things wealthy people do to maximize the impact of their giving

Three things wealthy people do to maximize the impact of their giving

Donor Advised Funds are a tool used by the wealthy to maximize the social and financial impact of their giving. GivingFund makes it possible for everyday people to get access to Donor Advised Funds as well.  Consider using one if:

  1. You want to be more strategic and thoughtful about the amount of money you give to charity, and reflective of where it goes

  2. You want to use tax deductions to your advantage and potentially develop a multi-year tax strategy

  3. You want to be able to invest your philanthropic money in impact investments before you give it away

How To Start Impact Investing Today

How To Start Impact Investing Today

Impact Investing is no longer just for the super wealthy. If you can relate to one or more of these scenarios, there may be a retail product for you:

  1. If you want to invest in specific causes, and are ok with managing money across different platforms, try: OpenInvest | NewDay | Swell Investing 

  2. If you’re looking for stable returns on a defined timeline and in-the-moment liquidity is not important to you, try: CNote |  Neighborly 

  3. If you’re interested in public markets, and ready to do some of your own analysis, try: Public ETFs such as DSIPRIDSHECATHICLN 

  4. You’re looking to have a single provider for investments, checking and IRA, try: Aspiration  

  5. If you rely on a financial advisor and want to make investments with/through him/her, try: Just Invest | Ethic