A brand new year is upon us, and with a new year comes a fresh new start. Many people begin their year with a hopeful outlook on what’s to come. Millions make new year’s resolutions, hoping to change bits and pieces about their personal or professional lives. One incredibly popular resolution is focused on donations and philanthropic work. So, with so many people eager to focus on giving back to their communities, here are a few of the most popular trends in philanthropy for 2017.
One of the more popular charitable contributions comes in the form of donor-advised funds. In 2015, DAF accounted for a whopping $78 billion in charitable assets. Not only is that an incredibly large amount of the year’s contributions, it was also an 11.9 percent increase from the previous year. Essentially, DAFs look to simplify the donation process. DAFs allow donors to open accounts at brokerage firms or large organizations and donate through a variety of means. Donors then receive an immediate income-tax deduction. Then, the money from your fund is disbursed to your designated charitable organizations. The Chronicle of Philanthropy’s annual ranking of the 400 charities in the U.S. that raise the most in private support reported that 4 out of the top 10 charities run DAFs. If you are looking to become more charitable this year, it may be worthwhile to look into a donor-advised fund.
Growing Community Foundations
Typically, a charitable community foundation will only cater to its surrounding area. However, as of late, many community foundations seem to be expanding their borders in order to become even more powerful and capable. Charities such as the Silicon Valley Community Foundation have begun to embrace the ever increasingly interconnected era that is the 21st century by acknowledging that, in order to truly make an impact in the world, they will need to cross city, state and even country lines.
As previously mentioned, the world is becoming a vastly interconnected place. Technology has allowed us to be in contact with virtually anybody at virtually any point on the globe, at any moment. And with this rapid growth of technology, more and more foundations, organizations and charities will need to adapt in order to maintain. One of the more popular ways that technology is being implemented into philanthropic organizations is through the use of cloud-based configurable platforms. By allowing different sectors of varying organizations to communicate rapidly, and access rapidly changing information in real time, at any moment, charitable organizations can work towards their goals much faster than ever before.
These are only a few of the many exciting things to look forward to in the world of philanthropy this year. It is a very exciting time for donors to get into a generous mindset and get the most from their charitable contributions.