Don’t stop talking: Charitable giving is crucial right now and always

As you gear up for client meetings during this time of economic uncertainty, it may be tempting to shorten the agenda for your client meetings and skip the topic of philanthropy. Resist that temptation! Although charitable giving tends to fluctuate with the broader economy, often dipping during periods of economic downturn, many of your clients remain steadfast in their support for favorite charities and look forward to discussing strategies with financial and tax advisors, even when markets are volatile.

What’s more, charitable giving tends to rebound as the economy recovers, highlighting the enduring commitment of donors to the causes they care about. This resilience is particularly evident among clients who prioritize long-term relationships with charities because they want to ensure that essential services continue even in challenging times.

Consider these strategies as you work with your charitably inclined clients:

– Tap donor-advised funds. Many of your clients have already established donor-advised funds at the Community Foundation for Greater Atlanta. These dollars can be activated anytime and often represent a useful source to support charitable causes when household budgets are constrained. That’s because your client’s assets were already transferred to the donor-advised fund and must be used for charitable purposes; clients can’t get those dollars back.

– Establish legacy giving. Some clients may not be comfortable maintaining their current level of charitable giving during years of economic uncertainty. This is an excellent opportunity for the client to update an estate plan to include a bequest to the client’s fund at the Foundation, whether through a will or trust, or especially savvy from a tax perspective, through a beneficiary designation on a 401(k) or IRA.

– Lean on the Community Foundation for Greater Atlanta. Our team stays closely connected to nonprofits in our area, keeping our finger on the pulse of our community’s greatest needs. This means we are an important resource for your clients right now, and always, to help your clients maximize the impact of their gifts. Especially if a client does not feel comfortable giving as much as they have in the past, the Foundation can help ensure that whatever dollars they do give make a real difference.

Thank you for helping your charitable clients support their favorite causes. We look forward to working together in the months ahead!