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Philanthropic Legacy Giving

In order to leave a lasting philanthropic legacy, you must first define your personal philanthropic values and live by them. It's important to distinguish between philanthropic giving and reactive giving, and to filter your impulses. When faced with a request for money, ask yourself: "Is this the legacy I want to leave?"

 

Philanthropic legacy giving often begins with an idea or vision for a better world. It might be an interest in community needs or a vision to engage the entire family in philanthropy. For example, a Jewish family's desire to support tikkun olam may be the catalyst for a legacy gift. A nonprofit like the Atlanta Jewish Foundation can turn an idea about tikkun olam into a game plan, providing guidance and assistance. Read more great facts on Philanthropi,  click here. 

 

Legacy giving can be made in many ways, including a bequest of money or assets. A bequest can be either a specific amount or a percentage of the estate. It can also establish a permanent fund. The full value of the legacy gift is deductible as a charitable deduction. You can learn more  about   philanthropic legacy here. 

 

Julian Robertson was a pioneer in finance and philanthropy. He was among the first successful Wall Streeters to give away a large portion of their fortunes during their lifetimes, an achievement few people achieve. However, his philanthropic legacy was a mixed one. It reflected the enthusiasm for charity among the Giving Pledgers of the founding era, but also the tension between giving and talent.

 

A Detroit real estate developer started a private foundation to support the community. The fund supports civic, health and cultural organizations in the city. It helped restore a fountain at Hart Plaza, constructed apartments for the elderly, and repaired a women's shelter. The fund is now run by the Community Foundation for Southeast Michigan. Please  view this site https://www.wikihow.com/Become-a-Philanthropist  for further details. 

 

A private foundation has a lot of benefits over individual giving. It multiplies the philanthropic impact and enables families to reach their charitable goals. It is also tax-efficient. The funds you donate can grow and earn substantial tax benefits, and you can leave the control of the funds to your heirs. With a private foundation, you can also have a lasting philanthropic legacy.