As part of a community-wide planned giving effort called the Valley Gives Back™, the Valley Community Foundation aims to build philanthropy in the region by providing local nonprofits and professional advisors with planned giving workshops and support through the new website www.valleygivesback.org.
A large majority of charitable contributions to nonprofits from donors typically come as outright gifts from income. This is because individuals tend to protect their long-term savings, appreciated stock, bonds, IRA’s, and real estate due to the uncertainties that come in life, such as not knowing how much they will need as they age.
“Understanding that people need to safeguard these assets, we are asking them to consider giving something back to causes and organizations they have cared about in the Valley when they no longer need them,” said Sharon Closius, Valley Community Foundation President and CEO. “Planned giving is arguably one of the best ways to make a meaningful impact without altering one’s current financial situation today.”
A 2014 Boston College Center on Wealth and Philanthropy report estimates that nearly $60 trillion will be transferred to younger generations in the United States over the next 40 years. During the next half-century, planned giving will play a critical role in the nonprofit sector, from the smallest local charity to the largest worldwide nonprofits, and represents a fundamental shift in the field of philanthropy.
While national and international causes are sending a range of appeals to donors, and colleges and universities inundate their alma maters, local nonprofits find it challenging to compete with large development campaigns. That is why the Valley Community Foundation is launching this community-wide planned giving initiative.
The Valley Gives Back website, www.valleygivesback.org, offers simple explanations of giving vehicles, videos, sample estate plan language, toolkits and recourses that help demystify some of the perceived complexities of planned giving.
“We are encouraging everyone to start the conversation with their trusted professional advisor,” said Closius. “Ask about how planned giving can fit into your financial and charitable plans. You can easily pass on both your wealth and your values by making a commitment to your favorite charities during your lifetime without jeopardizing your nest egg.”
Some planned gifts can be as simple as naming a favorite nonprofit organization as the beneficiary to a retirement account, which could be for the entire account, a specific amount, or a set percentage. Another is making a simple amendment to a will known as a codicil.
As part of the Valley Gives Back initiative, the Valley Community Foundation is offering workshops with nationally recognized leaders in planned giving for local nonprofits and professional advisors.
Planned giving expert Bryan Clontz will join the Valley Community Foundation to share his knowledge on December 12th.
Both workshops will take place at the Hyatt House Shelton – the Valley Gives Back Planned Giving Workshop for Nonprofits begins at 8 a.m. and the Valley Professional Advisor Network Planned Giving Workshop will begin at 5 p.m.
Those interested in learning more are encouraged to start the conversation with their accountant, attorney, or financial advisor today or contact the Valley Community Foundation at (203) 751‑9162.
