There are so many decisions to be made when creating a charitable giving plan. Whether you are making a one-time gift or a reoccurring gift, the bottom line is you want your gift to make an impact.

To assist with navigating your charitable giving options, First Bank of Highland Park, Highland Park Community Foundation and the Highland Park Chamber of Commerce will be hosting an informative webinar on October 28th. Keynote speakers will share strategies, tips and tools to further educate private donors and non-profits.

With guidance and research, targeting your philanthropic efforts will aid in choosing the right organization for your donation. Yes, your accountant can explain the tax benefits of Donor Advised Funds but only you know where you want to make a meaningful impact with those funds.

Start by identifying the cause that has meaning to you and determine if you want your funds to be used locally, nationally or globally. Giving locally has the added benefit of seeing your funds put to good use. It also allows you to have insightful conversations with the staff and contribute to their needs by volunteering your time and talents.

Once you have determined how and where you want your gift to be used, proactively research several non-profits and narrow down your list. When researching organizations make sure they are a registered 501C3.

Look for charities with accountability, transparency and financial stability. Choose an organization with a sustainable strategic plan that can make a lasting impact with your donation.

Once you have completed your due diligence and made your choice, work with a trusted advisor or banker to establish a budget and giving timeline to ensure you are receiving the full tax benefits associated with your giving plan.

A reputable charity will provide you with an annual report outlining how your funds have made an impact. You always have the option of continuing your support or diversifying your plan and spreading the love amongst other charities that meet your charitable giving wishes.

This process may seem a bit overwhelming but there are resources and professionals available to assist you with developing an impactful charitable giving plan.

For more information regarding the upcoming webinar on October 28th, email SRaven@firstbankhp.com


 

Guest blog post by:

Denise Bryant

VP/Marketing and Community Outreach

First Bank of Highland Park - Member FDIC