As the mother of a one-year-old, I know how hard life can be sometimes, between the feedings, the changings, the late nights, the early wakeups and the never-ending vigilance. Thank goodness for coffee and power naps, but mostly, thank goodness for the family and friends who are always there to lend a hand when I need it the most.
In the life of a parent, I know that time moves fast and these early years with my daughter, Rylee, will soon give way to new adventures. But as we move into the holidays and this season of giving, I can’t help but reflect on what I’ve learned in my first year of parenthood.
While I’m grateful for all of those who have provided me with love and support, I’ve found myself thinking about the parents who are facing the same challenges without the support network that I’ve had.
Those kinds of stark contrasts are often overlooked. These are the holidays, and we all give, but do we really know who we are giving to, and do we realize the impact we are making on their lives?
If we can’t say yes to that question, then we might be missing out on one of the fundamental joys that come from giving. In this season of giving, there are opportunities to connect and get involved with local organizations.
We can serve meals at a homeless shelter, volunteer at a Boys and Girls Club, serve at Pivot, Inc. or some other local agency. By looking a little deeper, it’s easy to learn more about the lives of people who are benefiting from the organizations we support, and when we allow ourselves time to do that, we find our contributions are even more meaningful.
I remember, as a child, going with my parents to serve Thanksgiving dinner to the homeless. Those were meaningful, formative memories, and I want my daughter to have that same kind of experience. Whether we’re serving meals at City Rescue Mission, taking donations to Infant Crisis Services, or adopting a Christmas wish list, she will feel what it’s like to help and love others.
And that’s a feeling worth enjoying year after year. And to help facilitate a lifetime of giving, it could be a good idea to establish a Donor Advised Fund (DAF) to create tax advantages that make giving on a regular basis easier.
Cash, securities and a variety of other assets can be deposited into a Donor Advised Fund, and those holdings can be used anytime to make tax deductible contributions to IRS-qualified public charities. DAFs can be a much simpler option compared to private foundations, and they allow assets to appreciate tax-free, which can increase the impact of a family’s giving.
Using the fund to make all charitable contributions allows simplicity of tracking donations, and a DAF can be used to make donations anonymously. In addition to those benefits, assets that appreciate within the fund are not subject to capital gains taxes.
Giving is important, no matter how we go about it, but the act of sharing and loving others can be so much more personal, meaningful, and rewarding with just a few extra steps. And there’s no better time to start enriching our giving experiences than in this season of giving. Merry Christmas.