Memphis has a heart for giving – and we also have causes worth supporting. With so many asks coming in on a daily basis, and with a number of worthy organizations tugging at our heartstrings, it can be hard to land on which organization you want to support through your Christian giving. But if you know how much you want to give in a year, then there is an easy solution – create a donor-advised fund.
Creating a donor-advised fund through the Christian Community Foundation affords you time and the opportunity to give strategically. Donor-advised funds allow you to budget, plan and execute your giving in one move without designating a nonprofit. So, when a need arises or your heart is touched, you can immediately make a grant to the nonprofit of your choice from the pool of money you’ve set aside for giving.
Donor-advised funds are a flexible, convenient way for you to donate money when you aren’t sure of where to give. With a donor-advised fund, you receive an income tax deduction in the year that a contribution was made to the account – and you no longer have to keep up with donation receipts for every nonprofit or charitable contribution you make. You also can easily make a grant request online, and we’ll write, mail and confirm donation for you. We do all the leg work! Through CCF, you can also donate assets including cash, stocks, bonds or even real estate. This flexibility allows you to contribute what you want when you want with no extra stress or inconvenience!
In our city, the opportunities to donate seem endless. And it’s amazing that we have a nonprofit landscape so committed to tackling our community’s most challenging issues. We want to empower you to use the gifts you’ve been entrusted with to impact the community. You can do this most effectively with a donor-advised fund.
We know that the giving process can be overwhelming at times, which is why we are here to help every step of the way. If you need assistance in setting up a donor-advised fund or with any donating needs, feel free to contact us at (901) 682-6201.
When you take a look at the breakdown of givers, the numbers tell an interesting story. Baby Boomers make up 43% of givers, while Generation X makes up 20% and Millennials 11%. It seems clear that age correlates with generosity, and younger givers appear to be behind. Undoubtedly, younger individuals and families have more expenses – from student loan debt to child care – and are also less established in their careers. Baby Boomers and Gen Xers are likely past most of these expenses, leaving them with more disposable income to give.
While it’s easy to attribute the generational drop-offs to age (and some can surely be attributed to age) there are additional factors, like lack of education on the matter. Younger generations may also be giving in other ways, such as giving their time to causes. No matter the reasoning, the best way to learn about giving is through demonstration. At Christian Community Foundation, our family of givers is comprised of people spanning a wide range of ages. And, we believe that giving isn’t about the amount of money you can contribute, it’s about establishing a practice of generosity. What we can say firmly is this – giving is a learned behavior, and our youngest givers do so because they learned the behavior from people they love.
As a foundation centered on helping others find ways to donate to causes they care about, we aim to provide all routes necessary to help you help others. These efforts are made to aid organizations right in our own backyard. And what better way to help following generations learn about helping our community than through the help of family? We want to bring that spark of helping others back to life – and strategic giving starts with education.
That’s why we’ve created the NexGen Fund. This donor-advised fund was created to start conversations on giving in your family. With the help of more established generations, younger people can learn the values of giving at any age. While most funds require a minimum investment to be established (which is intimidating to some younger donors), NexGen has no such requirement. You or a family member can create a fund in another’s name, and upon access to their own funds, the mentee can continue to give and distribute. Creating a trickle-down effect can help improve your family’s knowledge on giving to those in need. This is a plan of action waiting for family members following in your footsteps.
Creating this type of fund allows future generations to distribute it to organizations in need. Why is this important? Because at the center of Christian faith, giving is the ministry of God at work. We are called to keep hope alive, and we can’t do it without you!