HOW CAN I ENSURE MY PHILANTHROPY WILL HAVE MAXIMUM IMPACT?
When it comes to philanthropy and charitable giving, families of significant wealth have important questions and considerations.
‘Wealth has afforded me considerable opportunities. While I’ve given back over the years, I want to ensure my donations, gifts and contributions are strategic and impactful’;
‘Are personal or corporate donations best?’;
‘Should I start a private foundation?’;
‘How do I transmit the value of giving to the next generation?’ and many more.
While contributing to charitable causes makes us feel good, the process of allocating donations can sometimes be complex and sensitive – especially when there are so many worthy causes. The best way to ensure that your philanthropy is impacting those causes closest to your heart is to develop a giving strategy directed by a philanthropic mission and vision.
On the more personal side, while giving back can be altruistic, it is also part of what defines your legacy. We are here to help you and your family navigate the decision-making process and ensure your giving strategy is on a solid foundation for the long term. Charitable giving can also be a great way to transmit values to younger generations. By sharing with others, charitable giving is an opportunity to teach your children or grandchildren financial literacy and engage them in activities that go beyond simply amassing their own personal wealth.
How Richter can help
Richter Family Office helps you evaluate your strategy and ensures that your donations are made in a way that aligns with your objectives and offers maximum tax efficiency. Whether philanthropy is a new avenue for your family or if it’s been a long-time project, it’s a topic that requires many family discussions. At Richter Family Office, we work closely with you and your family to help establish and sustain your philanthropic strategy. Via RFO Capital Inc., we can also assist you in several ways to guide you through the decision-making process: portfolio management, governance, tax advisory and other essential services. And because we know that philanthropy goes way beyond finances, we also have access to a network of organizations in the community that can assist you in finding charities to suit your needs and any causes that you may wish to support.
It’s always a pleasure helping our families with their philanthropic endeavours, as giving back can truly be the best reward of all.
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