Checking in on your charitable plan

"Life is what happens to you while you're busy making other plans." — John Lennon

You’ve certainly heard that well-known quote. But have you thought about it in the context of your charitable giving? It’s common to create a charitable giving plan during a particular season of life. Perhaps you established a donor-advised fund after selling a business, included charitable gifts in your estate plan when your children were young, or began supporting favorite causes after retirement.

Over time, however, your life changes—and so does the community around you. Families grow, financial circumstances shift, priorities evolve, and our community faces new challenges. Organizations you care about may expand their missions or collaborate with other nonprofits tackling similar needs. Just as financial and estate plans benefit from periodic review, your charitable plan deserves an occasional checkup as well.

If it has been a few years since you've revisited your charitable goals, consider reaching out to the Community Foundation team. We’d be happy to serve as a sounding board as you ask yourself a few questions.

Examples include:

Are the causes I support today the same causes I cared about ten years ago?

Many donors find that their interests evolve over time. You may have become passionate about education, environmental conservation, healthcare, animal welfare, faith-based initiatives, or other causes that were not top priorities years ago.

Does my charitable plan still reflect my family's values?

Children and grandchildren often develop interests and perspectives of their own. Many families discover that charitable giving provides a meaningful opportunity to discuss values, generosity, and community impact across generations. The result is that families want to adjust their charitable priorities to reflect the interests of the family’s next generation. 

Have I reviewed my retirement account beneficiary designations recently?

Perhaps you’ve already worked with your advisors to update beneficiary designations of your retirement plans. Even so, it’s a good idea to take a look at those documents every few years to be sure nothing is missing. And if you’ve not yet named your fund at the Community Foundation or another charity as a beneficiary of IRAs and other retirement accounts, it’s worth exploring because of the potentially meaningful tax benefits of these arrangements. Be sure to ask your tax advisor about whether this technique could be a fit for you, and reach out to the Community Foundation team to help set your intentions in motion.

Do I know how local needs have changed?

Communities are constantly evolving and ours is no exception. While many longstanding needs remain, new challenges and opportunities often emerge over time. New opportunities to make a difference pop up every year, and learning about them can inspire you to get involved. The Community Foundation is a valuable resource to provide not only the big picture of what’s going on in our region but also specific examples of how nonprofits are meeting the most pressing community needs. 

Am I making this as easy on myself as possible?

You want to experience the joy of giving—not add administrative layers! Many donors appreciate opportunities to simplify their philanthropy. Whether through a donor-advised fund, another type of fund at the Community Foundation, or a combination of funds designed to achieve different goals, the right structure can make giving more organized and enjoyable.

Remember that updating your charitable plan does not necessarily require major changes. Sometimes a simple conversation with the Community Foundation team is enough to confirm that everything remains on track. Other times, donors discover opportunities to strengthen their impact, engage family members, or support causes in new ways.

The Community Foundation is always happy to help you review your charitable goals and explore ways to ensure that your philanthropy continues to reflect your values, your family, and your hopes for the future. We look forward to our next conversation!