Building Your Charitable Plan, Brick by Brick

Most of us can think of something we fully intend to do—someday. Organize the photos. Update the estate plan. Have that family meeting. Reboot the exercise routine. Charitable planning often falls into that same category.

We hear from many generous people who care deeply about the Gunnison Valley and fully intend to “do more” with their philanthropy. But life is busy. The calendar fills up. Markets fluctuate. Family and business priorities shift. It can feel easier to wait for the perfect moment—when things feel calmer, clearer, or more certain.

If that sounds familiar, you are not alone. And it is not a sign of indifference. More often, it reflects uncertainty. You may wonder:

• Am I giving to the right organizations?

• Am I committing too much too soon?

• What if my priorities change?

• What if I want to involve my children later?

When every decision feels permanent, it is natural to pause. CFGV can help you shift gears from intention to action. Here are three principles that guide our work with donors in this situation.

One of the most helpful mental shifts is to think of charitable planning as a multi-step process rather than a single, all-or-nothing decision. In many cases, a tax planning need takes precedence because of concrete deadlines and tax year considerations. Our team understands! That’s why we are happy to help you establish a donor advised fund (DAF), for example, to meet an immediate tax planning need. With that time-sensitive box checked, we will move on to discussing how you’d like to deploy the fund’s resources, involve family members in the decision-making process, and adjust your giving as your interests evolve. Your CFGV team is here to work with you and learn what means the most to you so your DAF can fulfill your legacy of giving for generations to come. 

Sometimes the hardest part of giving is not generosity—it is decision fatigue. You might be asking yourself, “Where should I give?” Often, that’s not the best question to ask right out of the gate, especially if you are new to philanthropy. Your CFGV team can help you work through key threshold questions including:

• As I look back on my charitable giving, what areas of focus seem to jump out?
• What specific charities have I supported over the years?
• Why have I supported those charities?
• Is there anything about my areas of focus that I’d like to change going forward?

As we explore these questions together, our team can provide research on local nonprofits, share insights about community needs, and facilitate family conversations about values and priorities. 

Community change does not happen overnight. You may find that your charitable intentions include not only providing annual support to favorite charities, but also making a meaningful difference over many years or even many decades that extend well beyond your lifetime. 

Your CFGV team can help you structure not only a DAF to help organize your annual giving, but also other types of funds and a legacy plan. Many families, for example, complement their DAF by also establishing a field-of-interest fund to support a particular cause with built-in flexibility as community needs change. Similarly, a designated fund can provide long-term support to specific organizations, and an unrestricted fund allows you to leverage the community foundation’s deep expertise and perpetual structure to address emerging community priorities for generations to come. You can name one or more of these funds as a beneficiary in your estate plan, whether through a gift in your will or trust or through a beneficiary designation on an IRA.

The bottom line is that CFGV is here to be your local partner for your entire charitable giving journey. We’ll work together to build and implement your philanthropy plan brick by brick over the years to come, involving your tax advisors and family members at key junctures and always ensuring that your charitable intentions—even as they evolve over time—are fulfilled.

The team at CFGV is honored to serve as a resource and sounding board as you build your charitable plans and pursue your philanthropic objectives for making a difference in the community. This blog post is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. Please consult your tax or legal advisor to learn how this information might apply to your own situation.