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Making Money Matter

Daily Camera

Column #3

Enid Ablowitz

Making Money Matter: Your Giving Style

Have you ever thought about why you make charitable gifts? Were you taught as a child to set aside part of your allowance for charity? Do you give because you feel some sense of obligation? Is giving an expectation or tenet of your religious or spiritual tradition? Is your giving tax-motivated?

Everyone makes donations of one kind or another: giving outgrown clothes, tossing coins to the holiday bell-ringer, buying raffle tickets, cookies, and magazines, or maybe attending benefit dinners. Some of you make weekly or periodic gifts to your place of worship, and even write checks to your favorite charities during their annual fundraising drive.

When your giving becomes pro-active, that is, you consider how much you want to give and why, you begin thinking like a philanthropist. It isn’t about how much you give, but that you consciously take charge of your giving and understand your own motivations. By choosing how, when, why and how much you give, chances are you will feel empowered by your own philanthropy. To paraphrase Aristotle, “to give away money is an easy matter, and in any person’s power. But to decide to whom to give it, and how large and when and for what purpose and how, is neither in every person’s power, nor an easy matter. Hence it is that such excellence is rare, praiseworthy and noble.”

Not to disagree with Aristotle, but frankly, while it may not be “easy,” I think more people can decide. Philanthropy is not just for the rich.

Start by understanding your giving style. Ask yourself the following questions:

1. Was there a tradition of giving in my family?

2. Do I give because I feel fortunate and want to “balance the ledger” in some way?

3. Is my giving tied to specific purposes or outcomes?

4. Do I think about the IRS when I give?

5. Is recognition important to me? (Be honest!)

6. Do I give because of who asked me or because it is expected of me?

7. What benefit do I get from giving?

The reasons people give are varied and complex…and very personal. Few people really examine their own motives. The fact is, philanthropy is a learned behavior. Whether a parent, a pastor, a peer or a professional, someone teaches you how to give. (It’s interesting that there is no category in bookstores called “philanthropy”. Whatever information is available is generally embedded in books on estate planning or smart ways to save taxes!)

There are people who seem to have a natural instinct for giving, but for most, giving, especially giving wisely, is a thoughtful process that combines the head and the heart.

Giving motivations can be reflected in 5 general categories:

Ancestry: those who give because there is a family tradition of giving

Analysis: those who give because its logical; it makes sense for tax reasons or some other quid pro quo

Affiliation: those who give because they want to identify with the mission of the organization or join a group of like-minded people

Appreciation: those who feel lucky and “want to give something back”

Altruism: those who feel a moral imperative to support a wider community

Most gifts do not reflect only one category, but are a complex mixture of human psychology. That’s fine. Whatever your motivations, understand them, embrace them and give!

If you have any questions about making charitable gifts, send them to Enid Ablowitz, c/o Boulder Daily Camera, P.O. Box XXXX, Boulder, Colorado.

Enid Ablowitz, CFRE, is Assistant Dean for Advancement at CU’s College of Engineering and A
Applied Science and has been working with donors for over a decade. She is writing a book called Making Money Matter: 8 Steps to Thoughtful Giving.

Enid Ablowitz is the Vice President for Advancement at the University of Colorado Foundation, Inc., and Director of Advancement for the Coleman Institute for Cognitive Disabilities. She has been working as a donor advocate for more than a dozen years. Her book, Making Money Matter: Eight Steps to Thoughtful Giving was recently published. For information on how to obtain a copy, contact her at enidablowitz@hotmail.com.

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