#GivingTuesday is About Giving Back
Tuesday, December 1, is an important date. GivingTuesday is a global day of giving that harnesses individuals, communities, and organizations’ collective power to encourage philanthropy and celebrate generosity worldwide.
Founded in 2012 by the 92nd Street Y – a community and cultural center in New York City – GivingTuesday inspired millions of people to support the causes they believe in and give back. Over $300 million was raised online to benefit a tremendously broad range of organizations, and much more was given in volunteer hours, donations of food and clothing, and acts of kindness.
We recognize that philanthropy is important to many of you. It is important to us as well. We also know that 2020 has been a challenging year for everyone. It can be difficult to think about giving to charity when you are concerned about caring for your own family in an uncertain time.
How You Can Participate in GivingTuesday
Remember, giving can take many forms other than money.
You can donate your time, clear out your closets, and purge your kids’ old toys.
You can mobilize a group of friends by starting a collection of goods or money.
You can spread the word about important causes that you believe others may find relevant as well.
You can use the day to educate your children and grandchildren, encouraging them to give back in an age-appropriate way. Ideas include writing a thank you note to a teacher or essential worker, choosing a toy they no longer play with to pass on to a less fortunate child, shopping for a toy to donate to a toy drive (nothing for them that day, just the donation). Doing these things reminds them to be thankful for what (and who) they have in their lives and teaches them to be humble and to show gratitude by giving something to those who have less than them.
There are other creative ways you can give too.
Learn how you can benefit from Donor Advised Funds.
For individuals who wish to donate some of their IRA to charity, making a Qualified Charitable Distribution could be a good strategy. Speak with your wealth advisor or give us a call to learn more about making Qualified Charitable Distributions post CARES Act.
And don’t forget to share your charitable giving philosophy with your family. It’s important to prepare your heirs to intelligently manage their future inheritance, preserve it, and grow it. Communicating your values with the next generation will increase the likelihood of them upholding your value system in the future. Family wealth planning can help facilitate this.
At Access Wealth, we have committed to giving back, and each year we strive to increase the organizations we support and the activities we participate in, personally, and as a firm.
We hope you will find in your heart to give to the causes that are important to you on Tuesday and throughout the year. To learn more #GivingTuesday, visit the GivingTuesday website.