Breaking the taboo: Encourage your clients to talk about philanthropy

For some, by definition, philanthropy is and always has been a very private matter. 

Among older generations, and particularly those with a Great Depression upbringing, it was “something we don’t talk about.” For subsequent generations, levels of participation, while historically high according to some studies, can publicly reflect a family’s accomplishments or stay within their household. So it’s only natural that a conversation about philanthropy can be difficult to start and sustain.

As a trusted advisor with intimate knowledge of a client’s wealth and finances — and the resulting opportunities for tax-advantaged charitable giving — an exploratory conversation, without a direct ask, should be attainable with the right approach. Indeed, addressing charitable giving priorities with clients is part of your role. To break the taboo on talking about philanthropy, here are three techniques to consider:

1. It is important to show genuine interest–and to listen. Dale Carnegie’s maxim, “To be interesting, be interested,” is good advice for nearly every social or business encounter, and as relevant now as it was in 1936 when his classic How to Win Friends & Influence People was first published. Especially with charitable giving topics, showing interest is important because giving is very personal and emotional. When you are reviewing a client’s estate plan or tax return, for example: 
2. Ask about the charitable organizations the client supports. You’ll likely be amazed at the richness of the stories behind each gift. In many cases, the client can benefit from organizing their giving through a donor-advised fund at the Community Foundation. 
3. Evaluate recent changes in circumstances that could impact a client’s ability to give, such as opportunities to offset Required Minimum Distributions through a Qualified Charitable Distribution.
4. Assess whether a client would benefit from a bunching strategy using a donor-advised fund at the Community Foundation, which advances predicted future charitable contributions into the current tax year and can help a client exceed their standard deduction, thereby taking advantage of itemizing deductions.

Any of the above can demonstrate sincere interest and lead to a productive philanthropic conversation. 

• Be sure to offer relevant expertise. Tax law changes are on the minds of many clients. The IRS’s activities will always give you an opening to talk about potential changes to the tax rates, upcoming changes to the estate tax laws, and what might happen to capital gains treatment. Explore each client’s balance of charitable interests versus leaving inheritances to family members. 

• Highlight the benefits of anonymous giving. Assure your client that their well-intended gifts can come with their preferred level of recognition. Whether it’s none at all, or recognition to a level less than the actual gift amount, the client’s wishes for recognition of gifts from their donor-advised fund at the Community Foundation will be honored. Even highly visible donors tend to be selective about which gifts they publicize and which they do not. By employing some level of anonymity in their charitable giving, your clients can enjoy a blended level of pride and privacy as they pursue their philanthropic goals. 

As always, the team at the Community Foundation is here to help. Please reach out with all of your charitable giving questions. Most of the time, the Community Foundation can offer tools and services to meet a client’s charitable giving goals, and in any case, we are happy to provide guidance and point you in the right direction. 

Reach out to Josh Dukelow, gift planning officer, at 404.588.3208 or jdukelow@cfgreateratlanta.org to discuss how the Community Foundation can help you deliver on your client’s charitable ambitions. Let our experts be your partner for philanthropic impact!