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May 22, 2009 By eJP
Lauren Katzowitz Shenfield says
May 26, 2009 at 4:27 pm
From today’s On-Line Wall Street Journal/Personal Finance
“I’m living, not giving,” one New York philanthropist commented about her charitable contributions this year. “There won’t be any new organizations on my list.”
This strategy may be a reflection of her economic circumstances or a copy cat response to today’s popular closed checkbook mentality. In either case, it provides little assurance of bang for the buck.
Charitable gifts are like investment portfolios. Donors need to perform due diligence and balance their giving to accommodate priorities of individual family members, generations and branches, community needs and larger philanthropic goals. Smart giving calls for this in tough times. Donors should also, periodically, re-examine their choice of charitable vehicles and asset class to insure efficient as well as effective giving. Professional assistance and the outsourcing of grantmaking, management and/or administrative functions can generate satisfaction while minimizing chores in philanthropic work.
Examples of how professional assistance can enhance effectiveness and provide greater fulfillment, especially in lean times, can be found in the case studies section of my website.
Lauren Katzowitz Shenfield
Philanthropy Advisors, LLC
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