Giving To Be Fully Alive

Howard Thurman (1899-1981) was an African-American author, philosopher, theologian, educator and civil rights leader known for his famous quote, “Follow the grain in your own wood.” When just a boy, Howard’s parents dropped him off at the Florida East Coast Depot in Daytona, Florida, so he could attend high school in a less segregated school in Jacksonville. They paid for his ticket, but forgot to pay for his luggage. He sat in the depot in tears when a stranger approached, listened to his story, and paid his luggage bill for him. In his autobiography, Howard Thurman dedicated his book to the stranger who “restored my broken dream.”

Thurman’s contribution to civil rights was never as loud as Martin Luther King, Jr. Instead, he developed a philosophy of social change by changing one’s individual, internal spirit. His story illustrates the goodness of giving. 

“Don’t ask yourself what the world needs. Ask yourself what makes you come alive, and go do that, because what the world needs is people who have come alive.”

Giving to charity makes us feel alive. Even though a gift to a qualified charity may entitle us to a deduction against income taxes, taking the deduction is smart investing. Tax laws provide the opportunity to make the world a better place. When we think of others, we forget about ourselves. When we give to others, we come more fully alive.

How To Give to Charity No Matter How Much You Make

We read an article recently that mentioned a man named Chuck Feeney, an Irishman that made his fortune in cognac, perfume and cigarettes sold from duty-free shops. He then made it his life’s mission to give away his entire $7.5 billion fortune while he was still living—a commitment that earned him the nickname the “James Bond of Philanthropy.”

Forbes published an article about Mr. Feeney in 2012 that is well worth the read entitled Chuck Feeney: The Billionaire Who is Trying to Go Broke.

glass half full, half emptyHe gave away his last $7 million in 2016 to Cornell University, leaving him a paltry $2 million to live on. Musing about Mr. Feeney, we found an article written in 2018 by Philip Taylor; we felt it was well worth sharing with our loyal readers.

Mr. Taylor notes that “the average American that makes $1 to $2 million only contributes about 3.2% to charity” but goes on to muse that he rarely gives much over 10% and admits why. You may relate.

He also has some sage but simple advice on how you can give to charity no matter how much you make. There are only 2 steps. It’s a good article.
Here it is.

On behalf of the Stewardship Foundation, it is our great pleasure to wish our friends, clients and mission-oriented non-profits, and all our “neighbors” a Happy New Year. Always know that we are here to serve your charitable giving and gift planning needs, and please refer us to a friend, non-profit or family member whom you think might benefit from our services.

More about Chuck Feeney »

Time For Stewardship

With recent news almost totally focused on the 2018 hurricane season and catfights between Democrats and Republicans, we’d like to share a bit of good news about the state of charitable giving and remind our friends that we are barreling toward another tax season.

laboratoryRegardless of our political distractions, we’re still a generous, big-hearted country when it comes to individual giving. It seems that we as a country are on track for a slightly higher percentage increase in 2018 than last year—a banner year for charitable giving. As individuals, we give about 70% of all charitable donations in the U.S. with the balance coming from estates, foundations, and corporations.

The passage of tax reform legislation could change the landscape of charitable giving for some households, but the majority of our clients have benefited from a booming stock market and are enthusiastic about exploring meaningful charitable giving opportunities.

Donor-Advised Funds, where donors receive an immediate tax benefit and can make suggestions about where the money goes, is the #1 rising trend. Now is the time to get in touch with us about adding to, or participating in, donor-advised funds for this tax year.

As always, let the real meaning of “stewardship” remain the driving force for your charity and reason for giving.