Reflections on South Sound’s generosity for good | Opinion
The recently completed Community Foundation’s annual Give Local campaign, where thousands of people support local causes, was a big success. This year, 2,786 people donated $931,372 to 134 local nonprofit organizations. The average donation was under $150, showing that you don’t have to be Bill Gates or McKenzie Scott to be a philanthropist.
This accomplishment was made possible not only by our community’s generosity but also through the support of sponsors whose support covered credit card fees and contributed matching funds to further maximize the value of each donor’s dollar.
I give heartfelt thanks to all who gave and celebrate our community’s generosity. The philanthropy of everyday people makes a meaningful difference in our community.
More than a third of individual giving occurs each year during November and December. With this year’s giving season in full swing, I’d like to share some trends and bright spots in how people are giving these days.
One is growing trust-based philanthropy. This means trusting the expertise of nonprofit leaders and staff to determine the best use of funds. This is a welcome change from insisting that a gift be directed to a specific program or use within an organization. When funders recognize that nonprofit administrative expenses are just as necessary as program expenses, we help create a more sustainable and effective philanthropic ecosystem.
Collective giving is also on the rise, as more book clubs and friend groups create giving circles. A giving circle is a simple way for people with shared goals or values to pool their funds and decide together how to give. While more formal giving circles are becoming common in the U.S., the model of collective giving has roots in many cultures around the world. Giving circles build community among participants and can help donors become more informed, connected, and civically engaged.
More people are using retirement accounts and appreciated assets to give, too. Donors over the age of 70 1/2 make donations through their IRA accounts, using a strategy known as a Qualified Charitable Distribution (QCD). Others are donating appreciated assets, such as stocks. These approaches provide tax benefits to donors and have a significant impact on the causes they support.
Another growing national trend is gift giving in wills. The baby boomer generation and older Americans hold over half the nation’s wealth, a staggering $92.8 billion, according to the Federal Reserve. A substantial portion of this wealth is anticipated to be passed down over the next three decades. While a significant portion will go to their heirs, many Americans will leave some part of their financial legacy to support causes and communities they care about.
To support bequest giving locally, the Community Foundation co-founded an effort called “Leave 10 South Sound,” which aims to inspire everyone to leave 10% or more of their estate to local causes that are important to them. While the effort addresses a somber topic, it is also a reminder of the meaningful opportunity to give back to the place you love and impart your values to future generations.
I encourage everyone, whether you’re 28 or 88, to have a will and to consider allocating a portion of your estate to something you care about in this community. In doing so, you will contribute to a brighter future for this place for generations to come.
Philanthropy’s root meaning comes from the Greek words philos meaning love, and anthropos, meaning human being. Together, it encapsulates the concept of love for humanity and the actions we take to improve the well-being of others.
We can all be philanthropists. Whether by donating dollars, dedicating time, or simply caring for others, anyone can demonstrate our neighborly love for people and the natural world that sustains us. In fact, our South Puget Sound community is brimming with everyday philanthropists, and that makes me proud to call this place home.
Mindie Reule is President and CEO of the Community Foundation of South Sound.