Large gifts made by the uber-wealthy to charities often grab headlines, but individuals who are not at that level can make a difference as well with a good plan and working with an organization like the Community Foundation.
Genevieve George is a senior wealth advisor, founder, and principal of Pelican Financial Planning and Wealth, and a member of the foundation’s Philanthropic Advisory Council.
She works with clients who have $2 million to $20 million in assets, and she works with people who have less than that as well, she said.
Many of her clients are women who are single, divorced, or widowed. Others are getting ready for retirement or are busy mid-career professionals building their wealth.
George said she starts by helping people develop a plan for their money. Then, if they’re philanthropically inclined, she talks with them about the causes they’re passionate about. She also helps them think about how to give in the most tax-efficient manner.
Working with the Community Foundation provides mid-level donors with many advantages. In general, they don’t have time to study nonprofits to make sure that their dollars are being well spent.
“They are not having to do that individual research, and they can make their dollars go further,” George said.
The Community Foundation understands the needs in the community, and what nonprofits are best addressing them, and that saves donors a lot of time.
George gave an example of a donor who wanted to help students from their old school. The donor gave money through the foundation, which helped match the funds with students who planned to study the topic that the donor felt strongly about.
She said giving through the Community Foundation can be easier than giving directly to a school or group because the foundation already has the infrastructure in place.
People do not need millions of dollars to make a difference. She said even a $5,000 donation can help when combined with money from other donors. That way, people can work together to make a bigger impact.
She said giving through the Community Foundation also helps people feel like part of something larger. “The Foundation has done the work to find out what the community needs,” George said. “They help connect people who want to give with those needs.”
Collectively, those mid-level donors can have a bigger impact in the community by working through the foundation.
