Giving Compass' Take:
- A retired married couple offers philanthropic strategies they pursue during the pandemic and before the upcoming election to ensure they can continue to give effectively.
- How can these strategies inform your approach to giving during this turbulent period of time?
- Read more about how donors can step up during times of multiple crises.
What is Giving Compass?
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Today, Charity Navigator has been graciously provided with an exclusive, first-hand account of charitable planning and giving by a married couple that utilizes Charity Navigator’s tools and resources to inform their giving.
We have taken a number of steps in advance of major events that can ensure that we could continue to donate to nonprofit organizations.
- Balanced portfolio.
- Following events.
- Waiting out the impact of COVID-19 on the market.
- Timing for giving.
Another event was on the horizon that could impact our portfolio, as well as how best to ensure we could donate wisely - the 2020 election.
- Warning from an Investment Advisor. We really like Bob Carlson's weekly newsletter because it alerts us to issues we should be aware of. He raised a caution flag in early September about the potential impact of two aspects of the 2020 election on the market.
- The Election. The newsletter indicated that, if the results of the election were disputed as was the case in 2000, it could significantly impact the value of our portfolio during the time frame that we customarily make our contributions.
- Impact of Policy Changes. The second reason for caution was that if there were a change in the Presidency from Republicans to Democrats, there would inevitably be changes in policy.
- Accelerating our Donations. We checked with some friends and they had similar concerns about the impact on their charitable contributions.
Read the full article about philanthropic strategies from Charity Navigator.