Giving to Charities: How & Why to Get Started

EP 118 | Profit Boss® Radio

Most of our conversations on Profit Boss® Radio are about how to keep wealth for yourself. How to earn it, save it and how to grow it. In this episode, we’re going to talk about giving it away and how to get started with charitable giving.

What You’ll Learn from This Episode

  • How to get started with giving
  • How to design a life that aligns with your principles and values
  • The impact the new tax rules have on charitable giving
  • How to find more joy and satisfaction in all your hard work with special guest CJ McClanahan
  • Hear Naomi Morshead’s powerful story about how she overcame a congenital heart defect and climbed 61 mountains in three years. She shares a powerful message that everyone can reach their dreams and also pay it forward to help others.
  • Invitation to upcoming Tax Webinar taking place on September 19th @ 11 am (you can learn more and sign up here: https://www.hilaryhendershott.com/taxwebinar)

You may find that as your financial and life situation improves, you begin to think more and more others who have less than you. A fundamental human want is to make a difference. After all, who wouldn’t like to leave this world a better place than how we found it?  For many, that means giving generously of your resources, whether that be time or money or both.

This episode of Profit Boss® Radio is about how to get started giving, and how to make your giving a fulfilling aspect of your life and quite possibly an area where you are stretching into your own self-actualization. This episode goes beyond just the practice of giving and encourages you to allow giving to transform you into the best version of you.

Tune in to today’s show and find out how to design a life that aligns with your principles and values. We’re at the top of Mazlov’s pyramid in this latest installment of Profit Boss® Radio!

Getting Started with Charitable Giving

This episode was inspired by a few sources. Dan Pallotta gave an inspiring TED Talk that I think everyone should watch if you’re wanting to get starting with charitable giving. It’s worth the 18-minutes of your time to consume! Charity Navigator also prepared an article with 5 steps to charitable gifting that I discuss in this episode and summarize below in these show notes.

Step 1:

The first step to get started with charitable giving is to identify the charities and causes you feel strongly about. It’s important to feel passionate about the causes you channel your resources toward.

If you’ve been a listener for any length of time, you may have heard me share that my thing is about empowering girls and women to live their fullest lives. I also have a soft spot for animals, so I give to the local ASPCA and other no-kill shelters. I know people whose lives have been touched by war or cancer or cystic fibrosis and they give to organizations that support those issues.

What moves you? How are you especially interested in making a difference in this world? Pull together a list of charities that match your interests.

Step 2:

The second step, according to Charity Navigator, is to research. Make sure you’re giving to a 501(c)(3) organization that is well-run and has financial resources and flexibility. Check to see that their donor communications are accountable and transparent so you’ll know what they do with the funds they receive from donors.

Step 3:

The third step is to assess and measure the impact of a potential charity or organization. After all, you’re giving to this charity because you want to make an impact, and impact can be measured in real results.

How many people are they helping? What size impact did they make? Are their impact statistics growing or shrinking? Talk with the charity about its accomplishments, goals and challenges.

Step 4:

Fourth, consider giving with no strings attached. The article suggests that once you have made your donation, trust the organization to do what it says it is going to do. If you have done your due diligence on the front end, you should be able to have trust and confidence that your resources are being utilized effectively.

Step 5:

And finally, follow up. Six months or a year after you give, find out how they used your money. You’re not looking for an itemized list of expenses. You’re looking for a progress report to give you a sense of whether they can clearly communicate their results and the impact your funds made.

If your charity can’t tell you what kind of results they created from your investment, go back to Step 1 and find one that will!

Special Guest Segments

SEGMENT: Interview with CJ McClanahan

CJ McClanahan is an author, speaker and executive coach which he’s been doing successfully for more than 14 years.

He began his consulting career as a licensed business coach with Action Coach and was soon recognized as one of the top coaches in the United States. He was named the “Rookie of the Year” and “Coach of the Year” in his territory and was recognized nationally with the “Action Man of the Year” award.

A few years after starting his coaching firm, CJ noticed that no matter how much success his clients achieved, very few ever seemed to truly enjoy the journey. It didn’t matter if they doubled their income or become CEO – it never seemed to be enough.

His second book, The Overachiever’s Dilemma, helps Type A professionals learn how to find more joy and satisfaction in all their hard work.

http://www.cjmcclanahan.com/ 

http://www.tworule.org/

SEGMENT: Interview with Naomi Morshead

Naomi Carmona Morshead was born with a congenital heart defect, and her life-saving open-heart surgery that was paid for by strangers gave her a unique view of life. She shares her view in this episode.

In her childhood, Naomi never managed to feel normal. Despite raising three beautiful daughters and achieving business success, she felt stuck. Then at age 61, Naomi chose to make what she calls a “Brave Heart Shift.” She broke through physical, mental and emotional barriers to become a high-altitude Adventure Mountain Climber. In three years, she climbed 61 mountains!

Naomi’s message to the world is that if an adult congenital heart patient can climb to the rooftop of Africa, everyone can reach their dreams and also pay it forward to help others.

Check out her book, Women who Rock, on Amazon.

Resources and References Mentioned in this Episode

#AskHilary

And let’s not forget that this show is powered by you and your stories and questions. Every month I’ll be doing an #AskHilary episode where I answer listener financial questions.

  • So, what’s that top of mind money question that’s been pinging around in your brain?
  • Where have you been stopped?
  • What have you been arguing with your spouse or significant other about?
  • What tip or tool aren’t you sure about?
  • Do you have questions about saving? Spending? Budgeting? Investing?

Pick up your mobile phone right now. Yes, right now. And open your voice recorder app. Yep, go ahead and open that app and record yourself asking me that question. Just say your name, first name only is okay, and then what city you’re from, and then ask away. Anything you want to ask. And once you’re done recording, export that beautiful little recording and email it to [email protected].

I can’t wait to hear your questions. The next #AskHilary episode will take place in Episode #121 on October 9.

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