RenPSG | Blog
As the year 2019 really gets rolling, you already may be looking at your resolutions in the rear-view mirror. If so, you aren’t alone. According to Forbes magazine, of the 40% of Americans who make resolutions every year, only 8% end the year achieving those goals. But for all the individuals out there who resolved to be more charitable, but have yet to take steps to that end, we’re here to help you keep your goals.
If you have ever worked for or with a philanthropic organization, you are well aware that the calendar from Thanksgiving to New Year’s Eve should just say, “BUSY.” And for good reason. According to the M+R 2018 Benchmark Study, 31% of annual giving is made in December with 12% of all annual giving happening in the last three days of the year. With all that charitable giving, there are a lot of financial advisors, fundraisers and gift processors burning the midnight oil to get every penny counted before January 1.
Giving Tuesday began in 2012 as a chance to step back from the commercial consumerism that claims so much of the focus this time of year and turn our attention to philanthropic opportunities. According to the NonProfit Times, gifts to charities hit a record $274 Million on Giving Tuesday a year ago and every indication shows that 2018 should be another record-breaking year.
For financial advisors, the subject of charitable giving has often been an exciting one. While it can benefit the donor in a variety of ways, the impact on the charity can resonate for generations to come. Generational giving, specifically, can help nurture cross-generational bonds with family members, teach fiscal responsibility to the younger generations and instill philanthropic habits within the family ranks.
Hurricane season is upon us and it’s a terrible reminder that Mother Nature can destroy property, communities and lives in an instant. The country recently watched in horror as Hurricane Florence tore through the Eastern Seaboard. Ranked just behind Hurricane Harvey in the level of rainfall, Florence has left many families in the Carolinas, Maryland and along the Northeastern Seaboard reeling.