Our Approach
Philanthropy plays a strategic role in wealth management by aligning financial planning with personal values while offering several financial and non-financial benefits. We can help you integrate philanthropy into your financial and estate plan to build a legacy and make a lasting difference.
What is philanthropy?
Philanthropy is the act of promoting the welfare of others through generous donations of time, money, resources, or expertise to support causes that address social, cultural, or environmental needs. It stems from the desire to make a positive impact on society and often focuses on areas such as education, healthcare, poverty alleviation, environmental conservation, and the arts.
Philanthropy can take many forms, including:
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Charitable Giving: Direct donations to nonprofit organizations or individuals in need.
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Volunteering: Offering time and skills to support causes without monetary compensation.
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Endowments and Foundations: Establishing structures that provide ongoing financial support to specific causes or organizations.
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Corporate Philanthropy: Businesses contributing to social good through donations, community programs, or employee volunteering.
What are the financial benefits of philanthropy?
By incorporating philanthropy into wealth management, individuals can achieve meaningful impact while optimizing their financial plans for both present and future generations.
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1. Tax Efficiency
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Donations to registered charities can provide tax deductions, reducing taxable income.
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Establishing a charitable foundation or donor-advised fund allows for structured giving while deferring taxes on appreciated assets like stocks or real estate.
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2. Wealth Transfer
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Philanthropy can be integrated into estate planning to reduce estate taxes and transfer wealth efficiently.
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Gifting assets to a charitable foundation ensures they are used for causes important to the donor, avoiding potential tax liabilities on inheritance.
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3. Asset Diversification
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Donating non-cash assets, like stocks, art, or real estate, can be a way to divest from illiquid or over-concentrated investments while supporting a cause.