‘Tis the Season for Giving

The approach of the holiday season means many people are planning charitable donations and are faced with questions about where to make an effective and worthwhile contribution.
One increasingly smart approach to answering those “giving questions” has been to contact a philanthropic advisor who specializes in connecting small businesses, individuals or giving organizations with charitable groups that share common goals and values. Donors who are new to the world of philanthropy may be overwhelmed by the myriad of deserving groups seeking funds, especially during the holiday season, when many organizations are looking for contributions. An advisor can sift through all of the information to help select organizations that fit what a donor hopes to accomplish, and are worthy of the donor’s support.
According to a recent national Better Business Bureau poll conducted by Princeton Survey Research Associates, 70% of adults say it is difficult to know whether a charity asking for support is legitimate. One of the ways to resolve this problem is by using the services offered by a philanthropic advisor to evaluate the charity’s mission and intent. During the holidays, many new “charities” surface, making it fundamental to confirm a group’s clear objective and purpose.
There are three common ways to find a philanthropic advisor. First, many communities have a donor group, such as the Donors Forum of Wisconsin. An organization like this is knowledgeable and can recommend a reputable advisor to meet specific needs.
Second, local community foundations often staff in-house advisors that can provide the needed services or suggest experienced outside advisors with specialties in areas of particular interest. Those foundations, such as the Greater Milwaukee Foundation, have also been joined in the last few years by community foundations that serve a specific donor group, such as the Jewish Federation or The Christian Stewardship Foundation.
Finally, other donors can offer recommendations, and trusted legal or financial counselors also can recommend philanthropic advisors to bring in on a donor’s behalf.
A good advisor should listen to the donor to align a charity’s mission with corporate and individual values. Based on that knowledge, the advisor brings expertise and a vast network to the table and begins developing a giving plan for the donor.
Expertise is important, but personal chemistry with the donor means a lot, too. The Better Business Bureau poll also reveals the importance of relationship building. The poll demonstrates that because each donor has a different goal or purpose for giving, it is important to form a relationship with an advisor who understands that purpose. Every philanthropic advisor is different, which is why it is important to interview a number of advisors before making a decision. Trust is a central element, and donors should be sure to check the advisor’s references and be thorough during the interview process.
Whether it be holiday giving or recurring donations – with thorough research, the use of experts and the help of other donors, a trusted advisor can make a significant and positive difference in a donor’s charitable giving plan.
John Stanley is the president of The Legacy Group, a Milwaukee-based organization that offers customized services to help companies deliver efficient, cost-effective charitable contributions.
Dec. 7, 2001 Small Business Times, Milwaukee