CFP Board shares charitable giving opportunities for alumni
Washington, D.C., September 21, 2015 (PDF) – Every college graduate receives the phone calls, mailings, and emails from their alma mater, urging them to give back, to contribute to scholarship funds, student programming, and campus capital projects. And many do, sending in generous checks to their college or university. LetsMakeaPlan.org describes influential ways to give back to one’s alma mater in addition to cash gifts to the annual fund, affording benefits for both the donor and the institution.
Opportunities for giving back to colleges and universities, based on the donor’s desires and circumstances, include:
Small and Simple: While predominantly cash gifts are typically small, requiring little involvement, they can still be strategic donations, with benefits for both the donor and the alma mater. Another relatively simple form of giving might include establishing a donor advised fund through a community foundation, or custodial broker or mutual fund.
Planned Giving: Other giving options involve taking an asset and splitting its value between two beneficiaries, one of which is a college or university, or designating assets to be gifted at a later date via a charitable trust. Because of the complexity and expenses involved in making these arrangements, such approaches are generally reserved for gifts of $100,000 or more, and require careful planning and coordination with the donor’s CFP® professional and attorney.
Visionary Gifts: These donations, often considerably large, reflect the donor’s personal intent and vision for the gift, and are meant to have a positive impact on the educational institution’s future stability and prosperity, while also serving as a personal memorial for the donor. Given the amount of money involved, donors play an active role in how the money will be utilized, including through improvements to capital infrastructure or endowed scholarships or professorships.
Before giving another donation to your alma mater, make a plan so that it’s done in a thoughtful and strategic way. A CFP® professional can guide you toward the appropriate charitable path that aligns with your financial goals, while providing benefits for your college or university.
ABOUT CFP BOARD The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. The Board of Directors, in furthering CFP Board’s mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, Certified Financial Planner™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. CFP Board currently authorizes more than 72,000 individuals to use these marks in the U.S.
CONTACT: Jessica Lewis, Communications Specialist P: 202-379-2256 E: firstname.lastname@example.org Twitter: @cfpboardmedia
ABOUT ROBERT SCHMANSKY, CFP®
Robert Schmansky is the founder of Clear Financial Advisors of Metro-Detroit. Rob has over a decade of experience helping individuals and families meet their financial goals and overcome money concerns. He is frequently quoted in the media on issues regarding personal financial planning, and has been a contributing writer for U.S. News & World Report, Forbes and Yahoo!Finance, and an investment expert for FiLife, a former Dow Jones/IAC joint Internet venture. He has been an adjunct instructor of economics and the required courses for candidates to sit for the CFP® exam. Investment News selected Rob as a 2015 40 Under 40 financial planning professional and he is the 2013 PlanPlus Global Financial Planning Awards North American finalist.
CONTACT: Robert Schmansky, CFP® P: 248-677-1762 E: email@example.com W: www.clear.financial Twitter: @moneyclarity
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