Last week, our office got to participate in the International Rescue Committee’s Winter Welcome program. We were honored to adopt a single mother and her young son who were recently resettled in Sacramento from Iraq as refugees. Hopefully they felt welcomed by our gifts and a little more comfortable in their new home as our neighbors.
We know that December is a big month for giving- not just for our office, but for America in general. In 2016, a Network for Good study indicated that 30% of all charitable donations were made in December. And the last 3 days of December accounted for 11% of all charitable donations for the entire year!
Philanthropy is a value we aim to model year-round as a business and hope to pass on to our clients. We believe that everyone should experience the joy of giving back. There are many ways to accomplish this, but here are a few ideas:
Volunteering is at an all-time high in America. According to the 2018 Volunteering in America study, approximately 77 million Americans—30% of the adult population—volunteer through an organization, using their time, talents, and energy to making a difference. Millions more are supporting friends and family (43%) and doing favors for their neighbors (51%), suggesting even more people engage in “informal volunteering”. Volunteering for a cause you’re passionate about is a great way to give back.
Giving USA found that in 2018, the largest source of charitable giving came from individuals at 68% of total giving; followed by foundations (18%), bequests (9%), and corporations (5%). Individual contributions make a big collective difference!
One way our firm promotes giving back is by amending trusts (or wills) with the sole change of adding a charity to the distribution scheme at no cost. (The cost of amending supporting documents will remain unchanged.) Other charitable bequests also receive a discount on services.
In addition, with each estate plan created by our office, 5% of estate planning fees are donated, in our client’s name, directly to the charity of their choice.
When December ends, a new year will begin. How will you give back in 2020?