Benefit - Monday, May 3, 2010 17:18

A Personal Story: Giving back and staying involved.

Benefits
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John Green is a successful business executive who worked his way up the corporate ladder. For John and his wife, Evelyn, finding ways to help others in their community has been a way of life. For the last several years, they have volunteered in their local Big Brothers and Big Sisters program. They also contribute their time and money to a local organization that helps homeless and disadvantaged people build skills to enter the job market.

During the past year, John’s company grew significantly, and he expects to receive a sizable bonus in late December. As John and Evelyn began their year-end tax planning, their accountant suggested that they consider increasing their charitable contributions this year. He knows that “giving back” is an important piece of the Greens’ lives, and it will help reduce taxes in this year of high income.

John and Evelyn agreed with the advice, but expressed concern about not having much time to consider which community organizations to support with their gift. They also had misgivings about donating a large sum of money to one charity. “If we give it this year, they may expect as much or more in years to come,” John said. The Greens’ accountant encouraged them to consider using their community foundation as a flexible vehicle that will allow them to fulfill their varied charitable interests.
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