The Legacy of Giving: Why Including Charitable Giving in Your Will Matters

In recognition of National Estate Planning Awareness Week (October 16-22), we bring you this blog post about including charitable giving in your will. This is not tax or legal advice; we encourage you to contact your tax planner and/or attorney for advice on your personal situation.

We all strive to leave a mark on the world, to make a difference that extends beyond our lifetime. One powerful way to achieve this is by including charitable giving in your will. Leaving a portion of your assets to charitable causes not only ensures that your values and passions live on but also brings about positive change in the lives of others.

A Lasting Legacy

Leaving a charitable bequest in your will is a tangible way to continue supporting causes that matter to you long after you're gone. It's an opportunity to make a lasting impact on the organizations and initiatives that align with your values and beliefs. By doing so, you leave behind a legacy that reflects your commitment to making the world a better place.

Support for Causes Close to Your Heart

Your will allows you to support causes that are near and dear to your heart. Whether it's your community, education, healthcare, environmental conservation, or social justice, you have the power to channel your resources toward the issues that matter most to you. This targeted giving ensures that your assets are used in a way that reflects your passion and vision.

Tax Benefits

Including charitable giving in your will can also provide tax benefits. In many countries, donations to registered charities are often tax-deductible, reducing the overall tax burden on your estate. This means you can maximize the impact of your charitable giving while providing potential financial benefits to your heirs.

Encouraging a Culture of Giving

When you include charitable giving in your will, you set an example for your family and loved ones. It sends a powerful message about the values that guided your life and the importance of giving back to the community. This can inspire future generations to continue your legacy of philanthropy, creating a culture of giving within your family.

Flexibility and Control

A charitable bequest in your will offers flexibility and control over your giving. You can specify the percentage of your estate or a specific dollar amount that you'd like to donate to charitable organizations. You can also designate how the funds should be used, ensuring that they align with your intentions.

Support for Smaller Organizations

Charitable giving in your will is an excellent way to support smaller, local, or lesser-known organizations that might not receive significant public attention or funding. Your donation can make a substantial difference to these groups, helping them fulfill their missions and create positive change within their communities.

Adapting to Changing Circumstances

Life is unpredictable, and circumstances change. By including charitable giving in your will, you have the flexibility to adapt your philanthropic goals over time. You can update your will to reflect changing priorities, ensuring that your support remains aligned with your evolving values.

Including charitable giving in your will is a meaningful way to leave a legacy of generosity and compassion. It allows you to continue supporting causes you care about, inspire future generations, and make a positive difference in the world. By taking this step, you ensure that your values and vision for a better world endure long after you're gone. So, as you plan for your future, consider how you can incorporate charitable giving into your will and leave a lasting legacy of kindness and generosity.

Crafting Your Personal Philosophy of Philanthropy

Philanthropy is not limited to the wealthy or those with vast resources. It is a mindset and a way of life that empowers individuals to make a positive impact on the world. Developing a personal philosophy of philanthropy allows you to align your values, passions, and resources with your desire to create meaningful change. In this article, we will guide you through the process of creating your own personal philosophy of philanthropy, enabling you to make a difference that resonates with who you are.

• Reflect on Your Values and Beliefs: Begin by reflecting on your core values and beliefs. What issues or causes are most important to you? Consider the social, environmental, or cultural issues that ignite your passion. Explore your personal experiences, convictions, and the values that drive you. This reflection will form the foundation of your philanthropic philosophy and help guide your giving decisions.

• Clarify Your Vision and Objectives: Craft a clear vision for the impact you wish to create through your philanthropy. Envision the world you want to help shape and the specific outcomes you hope to achieve. Set specific objectives that align with your values and can serve as measurable markers of success. This clarity will guide your decision-making and ensure your efforts remain focused and purposeful.

• Research and Educate Yourself: Engage in research and education to deepen your understanding of the issues you care about. Stay informed about the latest research, news, and developments related to your areas of interest. Seek out reputable sources, attend conferences or seminars, and connect with experts and organizations working in those fields. Knowledge is a powerful tool that allows you to make informed decisions and maximize your impact.

• Define Your Philanthropic Approach: Consider the various ways you can contribute to your chosen causes. Philanthropy encompasses more than financial donations. Explore the different forms of giving, such as volunteering your time and skills, advocating for change, or leveraging your networks and resources. Determine the mix of resources you are willing to contribute and the ways in which you can make the most significant impact.

• Develop a Strategy and Set Priorities: Create a strategic plan that outlines your philanthropic goals, objectives, and the steps needed to achieve them. Set clear priorities that align with your values and allocate resources accordingly. Determine the geographic areas or communities you want to focus on and identify specific initiatives or organizations that resonate with your vision. Having a well-defined strategy ensures your philanthropy is intentional, impactful, and sustainable.

• Engage in Partnerships and Collaborations: Recognize the power of partnerships and collaborations in amplifying your impact. Engage with other philanthropists, nonprofits, and community organizations working in your areas of interest. Seek opportunities for collaboration, leverage collective resources, and share knowledge and best practices. Collaboration allows you to combine efforts, pool expertise, and create synergies that can result in more significant and lasting change.

• Measure and Evaluate Your Impact: Regularly assess and evaluate the impact of your philanthropic efforts. Define indicators and metrics that align with your objectives and measure progress toward your desired outcomes. Reflect on lessons learned and adapt your approach as needed. By monitoring and evaluating your impact, you can refine your strategy, learn from your experiences, and continually improve the effectiveness of your philanthropy.

Crafting your personal philosophy of philanthropy empowers you to make a meaningful impact in the areas you care about most. By aligning your values, beliefs, and resources with a clear vision, strategic approach, and ongoing reflection, you can create lasting change that resonates with your truest self. Remember, philanthropy is not limited to financial contributions; it encompasses a range of actions that can positively shape the world. Embrace your unique role as a philanthropist and let your personal philosophy guide you on a transformative journey of giving and making a difference.

The Power of Partnership: Community Foundations as an Alternative to Starting a New Nonprofit

Embarking on a journey to make a difference in your community often leads to considering the creation of a nonprofit organization. While establishing your own nonprofit can be fulfilling, it also requires substantial time, effort, and resources. An alternative approach is partnering with a community foundation. These organizations provide a vehicle for individuals and groups to create positive change without the administrative burdens of starting a new nonprofit. In this article, we explore the benefits of partnering with a community foundation and how it can be an excellent option for those seeking to make a meaningful impact.

1. Leveraging Existing Infrastructure and Expertise: Community foundations have well-established infrastructures, including administrative support, financial systems, and governance structures. By partnering with a community foundation, you can tap into their expertise, resources, and networks, enabling you to focus on your core mission rather than administrative tasks. They offer guidance on legal compliance, financial management, and strategic planning, helping to streamline your efforts and enhance your organization's effectiveness.

2. Shared Vision and Alignment: Community foundations are driven by a commitment to community development and philanthropy. Their mission aligns with your desire to make a positive impact. Partnering with a community foundation allows you to tap into their shared vision and benefit from their deep understanding of local needs. By leveraging their expertise, you can collaborate on projects, and leverage funding opportunities.

3. Fundraising Support and Grant Opportunities: One of the most significant advantages of partnering with a community foundation is access to their established fundraising mechanisms. Community foundations have extensive experience and networks to facilitate fundraising campaigns, donor cultivation, and grant applications. They can help identify potential funding sources, assist in writing grant proposals, and provide fiscal sponsorship, allowing you to receive tax-deductible donations even before obtaining nonprofit status. This support significantly eases the financial burden and accelerates your ability to implement projects and programs.

4. Greater Credibility and Trust: Building trust and credibility in the nonprofit sector takes time and effort. Partnering with a reputable community foundation instantly lends credibility to your initiatives. Foundations have a long-standing history within the community, often spanning decades, and are trusted by donors, businesses, and government agencies. Associating with a respected community foundation enhances your organization's legitimacy, making it easier to garner support from stakeholders and community members.

5. Collaboration and Networking Opportunities: Community foundations play a vital role in connecting individuals and organizations within a community. By partnering with a foundation, you gain access to a network of like-minded individuals, nonprofits, and community leaders. This opens doors for collaborations, knowledge sharing, and partnerships that can strengthen your impact.

While starting your own nonprofit can be an exciting endeavor, partnering with a community foundation offers a compelling alternative. By leveraging their established infrastructure, expertise, fundraising support, and credibility, you can focus on making a meaningful impact in your community without the administrative burdens of starting from scratch. Community foundations provide the guidance, resources, and connections necessary to amplify your efforts and ensure long-term sustainability. Consider exploring the opportunities available through partnering with a community foundation and experience the transformative power of collective action.

If you are thinking about starting a nonprofit organization in North Dakota, either now or in the future, consider partnering with the North Dakota Community Foundation. Learn more about starting your own nonprofit in North Dakota here.

Celebrate National Volunteer Week! (3rd Week in April)

Are you interested in volunteering in the Bismarck-Mandan area, but you're not sure where to start? Check out these resources to help you find the perfect volunteer job!

Volunteer BisMan - MSA United Way volunteer center

U of Mary - List of places to volunteer in the community, organized by category

Volunteer Match - National database, searchable by city, cause area, and keyword

AARP - Learn how to volunteer with AARP, as well as other organizations in Bismarck-Mandan

Here are some steps you can take to help you decide where and how to volunteer:

1. Consider your interests and passions: What do you care about most? Are you passionate about the environment, animal welfare, or helping disadvantaged communities? Think about the causes that are most important to you, and look for volunteer opportunities that align with those interests.

2. Research local organizations: Look for organizations in your community that are working on the issues you care about. You can search online, ask friends and family for recommendations, or check with local volunteer centers.

3. Consider your skills and abilities: What skills or experiences do you have that could be helpful to an organization? Look for volunteer opportunities that match your abilities, so you can make the most impact.

4. Think about your time and availability: How much time do you have to volunteer? Do you want to volunteer on a regular basis or just occasionally? Look for opportunities that fit your schedule and availability.

5. Look for organizations that align with your values: It's important to find an organization that shares your values and has a mission that resonates with you. This will help you stay motivated and engaged in your volunteer work.

6. Don't be afraid to ask questions: If you're considering volunteering with a particular organization, don't be afraid to reach out and ask questions. Find out more about the organization's mission and how your time and skills will be used.

Happy volunteering!

Celebrate Random Acts of Kindness Week (February 14-20)

Random acts of kindness are small gestures of generosity and compassion that can have a big impact on the lives of others. Whether it's holding the door open for someone, paying for someone's coffee, or simply offering a friendly smile and a kind word, these small acts can go a long way in making the world a little bit brighter.

Random acts of kindness don't have to be elaborate or expensive to be meaningful. In fact, some of the most powerful acts of kindness are the simplest ones. A simple compliment or a kind gesture can brighten someone's day and make them feel valued and appreciated.

Random acts of kindness can also have a ripple effect, as they can inspire others to pay it forward and do something kind for someone else. Whether you're at home, at work, or out in the community, there are always opportunities to do something kind for someone else.

So the next time you have the opportunity to perform a random act of kindness, don't hesitate. Whether it's a small gesture or a more significant act of generosity, every little bit helps to make the world a better place.