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November 9, 2021

Jon Farzam on Ways to Make your Philanthropy Dollars Stretch Further | Los Angeles, CA

Do you want to make giving more purposeful and strategic? There are a variety of ways to get there. If one has a set budget for their philanthropic ventures, try following some of these easy tips to stretch their giving further.

Be Focused

One can make a significant impact by focusing on a few causes that they care about. This can be challenging to do, as most of us tend to over-extend ourselves when giving.

Choose A Reputable Nonprofit

Doing some basic research can help you find a good cause. But, before you donate, make sure to ask some basic questions to get a feel for the organization.

Give Unrestrictive Gifts

Instead of giving a specific gift, consider supporting an organization that you care about. This allows the charity to use the funds for their most critical needs.

Offer A Multi-Year Charitable Gift

If you’re considering committing to a long-term support relationship, talk to the organization’s leaders to see how they can benefit from your commitment. They’ll be able to provide an idea of how much support they need from you.

Combine Gifts With Others

There are many different ways to maximize your giving impact. One example is participating in a giving circle, where people from all around the world support different causes.

Maximize Your Giving

Intelligent financial strategies can help you save money and increase your giving. Try setting funds aside in an interest-bearing account early in the year to earn interest before giving them away as a donation.

Donate Appreciated Assets or Stocks

Converting non-cash assets such as stocks or appreciated assets to charitable donations can be difficult, but donating can be a great way. It’s always a smart idea to talk to a tax advisor about your options.

Spread Information

Your voice can be powerful enough to support the causes that matter to you. If you can commit to a specific project or organization, then you can help make a difference. Share information about a cause on your social media pages. If you don’t have money, consider offering your time in the way of volunteering and fundraising.

Start Now

It can be easy to feel like you don’t have enough time or money to make a difference. Instead of waiting for the perfect time to help, just get started with small donations. Take action instead of delaying.

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