In preparation for this influx of charitable activity, Philanthropy Roundtable put together a short list of tips to make your giving this year as effective as it is joyful.
Tip #1: Be deliberate, strategic and prepared.
Consider ways to strategically invest your giving to align with your values and overall objectives by asking the following questions:
- What are you ultimately seeking to accomplish through your giving?
- Are you looking to make a multi-year gift or is this a one-time investment?
- Are you looking to invest in your local community or more broadly?
- Are you looking to support certain categories of giving, such as education, women in crisis, workforce development and job skills programming?
Consider where, when and how much you will give. Take into account the issues or communities that are of greatest interest to you and your family, and which types and levels of support will help you reach your giving goals.
Tip #2: Seek advice from trusted sources.
With so many great organizations to support, the reality is that some efforts are more effective or better managed than others. Listen and look to see which organizations your trusted sources, including family members, friends, co-workers, faith leaders and financial advisors, are supporting with their time and money.
As you seek information and advice from these trusted sources, you may learn about organizations that are doing great work … and those that may give you cause for concern.
Tip #3: Maximize your giving by considering alternative giving vehicles.
Evaluate the various giving vehicles and venues for your giving. In addition to cash-only gifts, consider giving other assets, such as stocks and real estate, establishing a Donor-Advised Fund and/or donating other in-kind gifts that could provide meaningful value to an organization. By maximizing your giving in multiple ways, you may be able to produce more overall value to the causes you care about most.
Also, consider volunteering your time to engage with the organizations you support, and in doing so, make a more personal and perhaps long-lasting connection with individuals on the ground.
For those who like to track the statistics, the number to beat this Giving Tuesday, which takes place the Tuesday after Thanksgiving, is $2.47 billion. In 2020, Americans shattered the record amount donated on this day, a 29% increase over 2019’s total record-giving level.
Even amid a pandemic, among many other challenges, the American people continue to give generously and at record levels, reaffirming our commitment to uplift others and improve lives through philanthropy.