5 Steps to Maximize Your Charitable Giving

Charitable giving can be a meaningful way to create positive change in your community and beyond, but approaching it without direction can sometimes leave you feeling overwhelmed or questioning your impact. Thoughtful planning can help donors align their generosity with their core values and financial situation. By implementing a few strategic practices, your charitable contributions can have the potential to make a meaningful difference for the causes you care about most.

1. Give to Charities Early in the Year

Timing matters when it comes to charitable contributions. Many donors wait until the end of the year to make gifts, but giving earlier can allow your dollars to start working sooner. Nonprofits can potentially use your support to plan their budgets, launch programs, or respond to urgent needs. Giving earlier can help reduce last-minute stress, allows for more thoughtful decisions, and gives you time to see how your gifts are making a difference.

2. Develop a Philanthropic Plan That Reflects Your Values

A well-crafted philanthropic plan can help to align your giving with your core values and long-term goals. Start by identifying the causes and issues that matter most to you. I often suggest picking one or two themes that you personally believe are the most important things to change in the world. Narrowing your focus allows you to create a meaningful impact in areas that resonate deeply with you.

Your philanthropic plan should also consider:

• Budgeting: Set an annual giving amount as part of your financial plan. It helps you stay on track and know when to say “no.”


• Tax Benefits: Work with your financial advisor to understand how to maximize deductions and leverage tools like donor-advised funds and other tax-efficient giving strategies.


• Legacy Goals: Consider how your giving today ties into the legacy you want to leave for future generations.

Being clear about what matters to you can help you align your charitable giving with those themes. Your giving becomes intentional and proactive, empowering you to make decisions that feel both purposeful and rewarding.

3. Use Your Plan to Say “No” with Confidence

One of the challenges of being a generous donor is managing the influx of requests from charities. While it’s wonderful to be seen as someone who wants to help, it’s equally important to stay true to your plan. The plan allows you to be more proactive rather than reactive (and give to the same charities you’ve always supported more out of habit than clear intention).

4. Evaluate Charities Before You Give

Not all charities operate with the same level of transparency, efficiency, or impact. Before making a donation, research the organization to ensure your money will be used effectively. Start by checking ratings to review the charity’s financial health, accountability, and impact and read reviews from other donors about their experiences with the organization.

• These steps help ensure your support goes to trustworthy organizations aligned with your values.

5. Engage with Charities After You Give

Once you’ve made a donation, maintaining a relationship with the charity can be rewarding and insightful. Stay informed through newsletters or social media, share feedback to help them improve, and consider volunteering your time or skills to feel even more connected to the mission you’re supporting.

• Building a relationship with the charities you support fosters trust and gives you greater insight into how your contributions are making a difference.

The Meaningful Impact of Strategic Philanthropy

One of my favorite things to work on with clients is their charitable giving plan. When you approach charitable giving with intention, you become part of something greater than yourself. Moving the needle on the dial of the challenges you see in the world can feel empowering, and realizing that you can be a part of that change is magical. Really, anyone can be a philanthropist – you just need a plan! Whether your contributions are large or small, strategic giving can help you to leave your unique imprint on the world—one thoughtful donation at a time.

About the Author

Susan Olson, CFP, MS, MA
Financial Advisor & Partner, Abacus Wealth Partners

Susan spent two decades in nonprofit management before becoming a financial planner. She loves helping people align their investments with their values, as well as making the most of their philanthropic dollars regardless of the size of their giving budget.

Disclosure

Abacus Wealth Partners, LLC is a SEC registered investment adviser. SEC registration does not constitute an endorsement of Abacus Wealth Partners, LLC by the SEC nor does it indicate that Abacus Wealth Partners, LLC has attained a particular level of skill or ability. This material prepared by Abacus Wealth Partners, LLC is for informational purposes only and is accurate as of the date it was prepared. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Advisory services are only offered to clients or prospective clients where Abacus Wealth Partners, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Abacus Wealth Partners, LLC unless a client service agreement is in place. This material is not intended to serve as personalized tax, legal, and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Abacus Wealth Partners, LLC is not an accounting or legal firm. Please consult with your tax and/or legal professional regarding your specific tax and/or legal situation when determining if any of the mentioned strategies are right for you.

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