Giving season is in full swing and many of us are thinking about ways to give back to others in our local communities. In years previous, we’ve talked about giving the unexpected gift of permanent life insurance and ways to forgo overconsumption by celebrating mindfully. This year, we’re conjuring up some giving inspiration by highlighting two fascinating platforms working to connect charities and donors.
GIFTABULATORÒis an online app developed by Bill Petruck, president of FUNDING mattersÒ, a consulting firm that advises charities on capital and endowment campaigns. The purpose of the app, according to the website, is to “show you how to minimize taxes (everyone’s dream) while making the world a better place.”
The percentage of North Americans donating to charity has been declining over time, according to the GIFTABULATORÒ website. What’s more, only 4.0% of the $41 trillion passing between generations via estate planning is being left to charity.
The tool is marketed towards charities looking for ways to better connect with donors and secure funding as well as financial advisors with clients looking to balance their estate planning and philanthropic goals.
Compatible with Canadian and American charities and tax laws, GIFTABULATORÒ is an intuitive illustration program that demonstrates to donors their financial and philanthropic capacity by showing the impact of effective estate planning, charitable giving and tax minimization, in real time.
Charitable Impact was founded by John Bromley whose aim is to make donating to Canadian charities more accessible and effective for the average person. He realized that while most people have a natural desire to help others, they didn’t always know how to best go about it.
According to the website, Charitable Impact has facilitated more than $1.1 billion worth of donations to thousands of Canadian charities. How? By using a bank account like platform – called a donor-advised fund – where donors can add money to their account, peruse organizations at their leisure and then decide when and how often to give. Another cool feature is the ability to send others charitable dollars they can give away. Talk about a great alternative to material gift giving!
We often forget giving back to our communities can be a year-round sentiment, not just something we focus on during the holiday season. In the same way, a lot of us don’t realize just how powerful a philanthropic effort estate planning can be.