The year 2017 has been a whirlwind of change. The pace of societal, geopolitical and technological change has surely left many heads spinning. As the year winds down, the season of giving spurs many to reflect on their good fortune and help relieve the struggles of others. There are so many who need the support.
Since I joined the Cleveland Foundation nearly 15 years ago, not a month has gone by without meeting people whose lives were changed through the generosity of our donors. I’ve met students enrolled in college thanks to a Cleveland Foundation scholarship, and a mother whose son received life-saving treatment for addiction from a program we funded. I’ve heard from parents whose children practice viola every night thanks to a new music class in their neighborhood, and a woman who started her own business with help from a local entrepreneurship program — again, funded by the foundation.
These opportunities were created through philanthropy. Generous Greater Clevelanders have saved lives, eliminated suffering and transformed futures for so many in our community. Here at the Cleveland Foundation, we’re in the business of helping Greater Clevelanders maximize their charitable impact. Here are a few tips:
Get your gift in
Year-end gifts are essential to the bottom line of many nonprofit organizations. The Chronicle of Philanthropy estimates some charities bring in as much as 40 percent of their annual revenue during the giving season. Year-end gifts not only help your favorite charities, but also bring you tax advantages. In a few weeks, potential changes to the U.S. tax code will become clearer. While there are still unknowns, the Cleveland Foundation has encouraged our donors to make gifts by Dec. 31 before new tax implications may take place.
Give thoughtfully
Tax breaks are a helpful incentive. But in nearly 15 years at the Cleveland Foundation, I have yet to meet someone who gives solely for tax purposes. The hundreds of donors I know share a passion for our world and a desire to improve our little slice of it here in Cleveland.
At year end, thoughtful donors do more than respond to direct mail appeals or write checks; they reflect on philanthropy. What causes are important to you and your family, or your business? Are there other ways you’d like to give back, including volunteering? What impact do you hope to make?
Year-round vision
It’s a great time of year to be generous, but of course, philanthropy is a year-round sport. Giving consistently provides a stable revenue stream that allows your favorite charities, or those you are just beginning to discover, to better address urgent needs and forecast priorities. Many of our donors have created Donor Advised Funds, which give them access to expert grantmakers with a pulse on urgent community needs throughout the year, among other opportunities to connect with others and learn.
No matter how you decide to give, the true impact of your generosity is felt more deeply than you can ever know. If you approach your giving with care and vision, you’ll find the return on your giving goes far beyond the dollar amount. We at the Cleveland Foundation wish you a wonderful holiday. As we approach the new year ahead, I look forward to all that our community can accomplish together.
Ronn Richard is president and CEO at The Cleveland Foundation
