Using a Donor Advised Fund, one couple is exploring their philanthropic strategy
Andy and Trish O’Donnell have always deeply valued giving back to the community; however, as busy professionals raising a daughter, it was challenging to find sufficient time to dedicate to the causes close to their hearts. That is all changing now as they are entering into a new chapter in their lives: retirement. Their first retirement goals are to create a strategic plan for their philanthropy and get their daughter involved in aspects of their philanthropic plan.
While they were working full time, they capitalized on opportunities to increase their impact and grow their philanthropic “nest egg.” They leveraged the matching programs from their workplaces as well as the Foundation’s first Donor Advised Fund Match in 2018 and this most recent match in 2023. They also took advantage of the tax benefits of transferring equity positions that had high taxable capital gains. In doing so, they made a conscious decision to grow their Donor Advised Fund over the years before retirement so that they would have a substantial base set up for their future philanthropy.
Now the fun begins. “I’m looking forward to giving back and having more time to volunteer on projects that I am passionate about, where I can add value, and help make a difference in our community,” said Trish. With the guidance of the Foundation, the O’Donnells are creating a plan for how they would like to give their time and money. The Foundation is able to introduce the couple to organizations based on what inspires them and connect them with other families with similar interests.
“We appreciate the guidance and resources provided by the Foundation staff,” said Andy. “They are working with us on the steps to creating a plan for our philanthropy, and now we get to build something that is more meaningful for us and creates a positive impact for others.”
The Foundation’s Donor Advised Fund Match continues through the end of 2024 (or until matching funds run out!). Find out how you can increase the impact of your charitable dollars through this match.