How the Pandemic Is Changing the Conversation Around Planned Giving

By Joseph B. Baldasare, CFRE, Chief Development Officer, The Dayton Foundation

Since the onset of the COVID-19 pandemic, the world as we knew it has changed. The long-term effects for how we work, socialize, learn and communicate are yet to be fully understood. However, while the pandemic has forced us to alter our lives in significant and often difficult ways, one benefit is how families are spending more time together. This life slowdown has led many families to enjoy activities together, such as playing board games, eating meals at home and, perhaps most importantly, having meaningful discussions about topics of personal importance.

During these conversations, many families have developed a renewed interest in charitable giving and in leaving a legacy after their passing. Specifically, they may be contemplating how much of their estate/assets they would like to pass down to their children versus the community or their charitable interest.

As your clients consider their charitable giving plans for the future, you may want to suggest the many planned giving options available through The Dayton Foundation. Advisors, along with their clients, are scheduling virtual visits with our Development staff to begin this process and determining what they would like to leave behind for the community.

As you work with your clients to find the best charitable plan for their needs, remember that The Dayton Foundation also can help you help your clients. We can assist you in creating a plan that ensures their dollars will support the causes or charities as they intend and in the most tax advantageous manner possible.

Below are two examples of how we can help you help your clients with their estate planning goals.

Example 1:

At the advice of their estate planner, Mr. and Mrs. Donor create the John and Sally Donor Charitable Fund for the Performing Arts, a Field-of-Interest Fund in their names. After John and Sally pass away, their identified assets will be transferred to their fund at The Dayton Foundation, with grants awarded annually to performing arts organizations throughout the region in perpetuity. These assets are placed with a money manager of their choice that will follow The Dayton Foundation’s investment policy to ensure the fund’s growth and protect its corpus.

Example 2:

Mr. and Mrs. Giver have decided that they want their remaining assets to benefit the community during times of critical need, however they do not want to name a specific cause or organization. The Givers have watched over the past 18 months how The Dayton Foundation responded to the 2019 tornado outbreak, the Oregon District tragedy and the COVID-19 pandemic. Following the advice of their financial or estate planning advisor, Mr. and Mrs. Giver place their trust in The Dayton Foundation by establishing a deferred, Discretionary Fund in their name that will award grants to address the greatest needs in the community that they so love. Their named fund will be funded at the time of their deaths through a residuary bequest.

These are just a couple of examples illustrating how your clients can plan today for what they wish to leave behind tomorrow. When meeting with your clients, you may want to ask, “What will your legacy be?” In these unprecedented times, we are likely to think about our own mortality and how we want to be remembered after we are gone. This may be an opportunity for you to add another level of service to your clients. Let us help you and your clients find the most effective way to give back to the community, as well to the charities and the causes they care about most. The Dayton Foundation can work with you and your clients to make their philanthropic wishes come true.

 

Contact the Development team:

Michelle Lovely (937) 225-9948 Email

Joe Baldasare (937) 225-9954 Email

Jill Koorndyk (937) 225-9944 Email

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File date: 1.30.20

HERE TO HELP

Joe Baldasare

“Looking for a value-added service to help you when working with clients who have charitable interests? We can help.”
Joe Baldasare, Chief Development Officer, (937) 225-9954

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