It is difficult to go about our daily business without receiving a multitude of requests for donations to charitable organizations. We see billboards beckoning to us as we travel in our vehicles. We receive phone calls from telemarketers, requests in the mail as well as E-mails. We can even be approached at a local retailer by civic organizations raising funds for their community.

Many of us are well aware of the organizations we chose to donate to and generally the charities that receive the most from us are the ones that we are most familiar with or that are close to our hearts.

Unfortunately, many of us are unknowingly more generous than we might think. In Fact, if you if your paying federal income taxes, capital gains taxes and federal estate taxes you are likely already a philanthropist. However the charities, organizations or causes receiving your tax dollars are selected by the federal government. And while you may care about some of these causes it is also likely that your dollars are going to causes you do not even know exists or causes you might even wish to withhold funds from.

Money Magazine reported in their December 2004 issue that “nearly one out of three respondents expressed little or no confidence in charitable groups, and only 11% said they believed that charities do a very good job of spending their money wisely”

Most people give to a charity for a very simple reason: They are asked. However, do you prefer to donate within your community? Would you rather give to a cause that is close to your heart? Wouldn’t you prefer to gift to an organization you know? For most of us, the closer the match between your charitable gift and your passion, the greater the reward.

Whether the charity works to improve the community you live in, is involved in finding cures for a disease that has impacted your family or has helped you and your family grow spirituality, it is important to review the
options for giving today as well as planning for how your estate passes to your heirs as well. Do you want to be an unwilling, involuntary participant in your gifting or would you rather control your charitable giving.

While the rewards for giving are immeasurable the complexities of giving can be overwhelming as we strive to make sound investments with our social capital. Considering IRS deductibility limitations, tax rulings, the availability of trusts, family foundations, various annuities and life insurance, selecting the most effective gifting strategy requires the advice and services of a trusted guide

The purpose of this report is to introduce you to some sound charitable giving strategies. But, as you review the strategies presented here keep in mind that you should consult your Tax Advisor, your Financial Planner and/or your Estate Planning Attorney before making any gifting decisions.