We are all at different stages in our life journey and it is not always possible to be generous by giving substantial amounts of money. Instead we may choose to be generous with our time.
I have been fortunate enough to work with financially successful people for more than 15 years. These are people who have reached a stage in life where they can afford to be generous with their money. For those who express a desire to be philanthropic, I help them develop structured giving plans.
Structured giving introduces a level of professionalism to the giving process. It generally involves:
- larger amounts of money;
- development of an overall giving philosophy;
- planned grants to charities rather than spontaneous grants;
- an entity;
- a board overseeing the entity;
- independent professionals advising the board;
- a long-term time horizon;
- research and due diligence of charities before approving grants;
- measuring the success of grants by assessing the social impact against expected outcomes;
- being more engaged.
In this blog I will delve into the professional aspects of structured giving. It does not matter what stage in life you are at, giving your time and/or money can make a real difference. Introducing some professionalism into your giving will lead to even better outcomes.
The best part of all, is that contributing to the lives of others in this way, can have a positive impact on your own happiness and wellbeing. As they say, what goes around comes around.