A couple of weeks ago, I ran across a Wall Street Journal article that indicated that total charitable giving in the United States fell 3.6 percent in 2009. According to this report made by the Giving USA Foundation, this was the steepest decline since it began its annual study in 1956.
The report did note however, that despite the sharp decrease in financial transactions resulting from the poor economic conditions, Americans continued to give to charity - albeit less.
Philanthropy Charitable Giving
The article went on to say that, as a direct result of this condition, 40 of America's wealthiest individuals and families have signed the "Giving Pledge."
Responding to a call by Warren Buffet and Bill and Melinda Gates, these billionaires have publicly committed to give away at least half of their wealth to charity within their lifetimes or after their deaths.
Warren Buffet was quoted in explaining that, while the pledge push might produce a short-term boost in giving, the main goal is to set an example over the long term for others to get involved in philanthropy.
"The behavior of those before does affect what happens with those after, particularly if those people are somewhat admired in society," Mr. Buffet said. "If Carnegie and Rockefeller hadn't done what they'd done, there'd be less philanthropy in the United States today."
What do you think? Will this example inspire and motivate you or your clients to give? There are many giving strategies that can provide tremendous impact without unduly taxing the finances of a person or family.
In many instances, the desire exists. What is missing is the knowledge of how to do it.
Forty Billionaires and the Giving Pledge
Dean Hanewinckel is an attorney in Southwest Florida who has helped his clients manifest their legacies for over 25 years. His contribution to helping provide this knowledge is his new book, Manifest Your Legacy - Your Complete Guide for Making A Positive Impact On Your Family & Community For Generations To Come. Visit http://www.manifestyourlegacy.com to learn more.
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