Are you Charitable or Philanthropic?

Charitably inclined means you give time, energy or resources to known organizations that are near and dear to your heart.  For example, charitable giving can include annual donations to a camp or university that really impacted your life or volunteering at a local food pantry or shelter for victims of domestic abuse.  Here is an article that outlines some tips: Top Tips For Effective Charitable Giving – St. Louis Trust & Family Office (

When giving charitably, you probably do your research, act selectively and periodically monitor your donations. Being charitable is a very personal decision so do what makes you feel good!

Being philanthropic means you strongly believe in a cause and want to leverage your gift to make a larger impact. For example, you feel strongly that more research is needed for finding cures to rare diseases. Giving money to a national research foundation which supports various organizations’ research projects through special grants is one example. This Schwab paper outlines some tax smart philanthropy: Tax-Smart Philanthropy for 2022 | Schwab Charitable Donor-Advised Fund | Schwab Charitable

No matter when you gift, who you gift to or what you gift, you may need help determining what is the most effective: What makes the most sense given your unique situation?

  • Writing a check
  • Transferring highly appreciated stock
  • Sending a Qualified Charitable Donation (QCD) from an IRA
  • Funding a donor advised fund (DAF) from which to gift now and in the future
  • Establishing a charitable remainder trust (CRT)

At WPC, we have been helping individuals and families define and achieve their giving goals for 25+ years. We can help you navigate your gifting approach with intention and purpose.

WPC is a trusted advisory firm for individuals and families for all their financial topics and investment management needs! Our goal is quality, custom advice, exceptional service, and follow-through with every client encounter. We seek to educate each client and increase their financial confidence.



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