PROFESSIONAL ADVISORS AND COMMUNITY
FOUNDATIONS PARTNERING FOR MAXIMUM
IMPACT
Phil Cubeta, CLU®, ChFC®, MSFS, CAP®
The Sal...
Bryan Clontz Charitable Solutions
Lisa Jolley Columbus Foundation
Phil Cubeta The American College of Financial Services
W...
DONOR ADVISOR
DISCONNECT
US TRUST SURVEY, “THE PHILANTHROPIC CONVERSATION,” 2013
51%
17%
20%
33%
0%
10%
20%
30%
40%
50%
60%
HNW Individual initiates the conversation Advisor initiates the conversation
(P...
38%
41%
27%
63%
0% 20% 40% 60% 80%
Charitable Goals,
Values and Interests
Technical Issues
(Percentage of Responses)
HNW I...
HOW IMPORTANT ARE TAX BENEFITS?
46%
40%
78%
10%
6%
45%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Motivation for giving is red...
INHIBITORS TO GIVING
30%
24%
17%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
My gift will not be
used wisely
Lack of
knowledge/c...
NEXT GEN GIVING
0
5
10
15
20
25
30
35
40
45
50
Advisors saying they
provide it
Clients who say advisors
discuss it
Clients...
 “Among HNW individuals who discuss
philanthropy with an advisor, 47% use one or
more structured giving vehicles when mak...
 “Nearly one-third of HNW individuals (31%)
indicate that they would be more likely to
choose an advisor who is knowledge...
HIGH CAPACITY DONOR
PERSPECTIVE
GIVING IS TOP-HEAVY
 Top 10% give 96%
 Top 1% give 81%
 Top 10% of the 1% give 61%
4 schools, total life time giving.
D...
A REVOLUTION IN GIVING
 “…donors used to support
nonprofits to help them
achieve their mission. Now we
support nonprofits...
COPERNICAN REVOLUTION
“In the realm of nonprofits,
it’s a transformation as
dramatic as the one that
Copernicus created in...
 How can I use some combination of strategies
now, later, at death and beyond death to get
the results I want?
 For me? ...
 How much do we need for ourselves?
 How much is enough for children?
 How much is too much?
 How can we have an impac...
 73% of Boomers…say there is a responsibility
to be philanthropic.
US Trust 2012 Insights on Wealth and Worth
A RESPONSIB...
CONVERSATION STARTERS
MICHAEL SHAUGHNESSY
 What kind of person do you
want to be?
 In what kind of world?
Teaches ethics at St. Ignatius Colle...
 “Do you recognize any element of
luck, blessing, or grace in your
success?”
- Via Steenhuysen, “Philanthropy Planning,” ...
 “What is your rationale for charitable giving?
 Do you feel that any of the following play a
role in your rationale?
 ...
ESSENTIAL QUESTIONS
 “What principles have guided
your legacy planning to date?”
 “What are you up against with
your chi...
 What is your vision of a better
world?
 What conditions are needed to
realize it?
 What are the obstacles?
 What part...
 What would you like to change or
preserve in the world?
 Has past giving reflected your
hopes?
 What are the causes be...
 If your family had a crest what
would be the motto?
 What keeps you awake at night?
CONVERSATION STARTERS
Joe Breitenei...
 When you were younger were there things you
wanted to accomplish in life you have not yet
done?
 How might you get back...
 Beyond self and family is there anything else
in the world on which you would like to have
a positive impact?
CONVERSATI...
Why?
• What kind of person do you want to be?
• In what kind of world?
How?
• Plans
• Tools
• Gifts
Impact?
• On self
• Fa...
WHY WE NEED EACH
OTHER
BALANCE SHEET
Are you in the room, when the
balance sheet is on the table?
“CHARITY OF YOUR CHOICE”
Results
Strategies
Tools Foundation
Heirsinancial
for family
Heirs Tax
Charitable
“Charity of
you...
CHECK YOUR VISION
Advisors
 Vision, ideals, hopes,
aspirations
 Needs of organizations
and community
 Financial goals
...
 Bring together funders and causes.
 Serve, in essence, as a local market maker
 Help your clients connect to a cause a...
WHAT IT MEANS TO BE A
CAP®
 Over 87 Years old, The American College is a
non-profit educational institution with the
highest level of academic accre...
BILL AND SALLIE WALLACE’S GOALS
1. Create national awareness of
the need for philanthropic
advisors
2. Provide comprehensi...
• Elicit aspirations
• Connect through a good estate
plan or financial plan
• Steer dollars to orgs that do the
most good
...
OUR SYMBOL
 “What is that pin on
your lapel?”
 Passion and craft
 Art and science
 Poetry and practice
 Above and bel...
CAP STUDY GROUPS
FOR YOUR COMMUNITY
THE PLANNING TABLE
 Attorney
 CPA
 Trust Officer
 Insurance
Professional
 Investment Advisor
 Family Dynamics
Consul...
 GS 839: Planning for Impact in the Context of
Family Wealth
 GS 849: Charitable Giving Strategies
 GS 859: Planning fo...
 Meet every other week to discuss recorded
lectures.
 Takes about 9 months total.
 Lectures lead to exam in exam center...
 Nonprofit package price $2,700
 For-profit $3,100
PRICES
Bryan Clontz Charitable Solutions
Lisa Jolley Columbus Foundation
THOUGHTS FROM BRYAN AND LISA
 Attend our third session, “How to Organize a
CAP® Study Group”
 Who should attend? The Community
Foundation Convener an...
 CAP@theamericancollege.edu
 We will get back to you with more info on
CAP and Study Groups.
 Then attend the next sess...
Bryan Clontz Charitable Solutions
Lisa Jolley Columbus Foundation
Phil Cubeta The American College of Financial Services
T...
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Chartered Advisor In Philanthropy - Professional Advisors and Community Foundations Partnering for Maximum Impact

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Community Foundation experts share tips for partnering with professional advisors for maximum impact on your organization.

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Chartered Advisor In Philanthropy - Professional Advisors and Community Foundations Partnering for Maximum Impact

  1. 1. PROFESSIONAL ADVISORS AND COMMUNITY FOUNDATIONS PARTNERING FOR MAXIMUM IMPACT Phil Cubeta, CLU®, ChFC®, MSFS, CAP® The Sallie B. and William B. Wallace Chair in Philanthropy at The American College of Financial Services
  2. 2. Bryan Clontz Charitable Solutions Lisa Jolley Columbus Foundation Phil Cubeta The American College of Financial Services WELCOME
  3. 3. DONOR ADVISOR DISCONNECT US TRUST SURVEY, “THE PHILANTHROPIC CONVERSATION,” 2013
  4. 4. 51% 17% 20% 33% 0% 10% 20% 30% 40% 50% 60% HNW Individual initiates the conversation Advisor initiates the conversation (PercentageofResponses) HNW Individuals' Responses Advisors' Responses Clients say, I do WHO INITIATES? Advisors say, I do, more so that clients
  5. 5. 38% 41% 27% 63% 0% 20% 40% 60% 80% Charitable Goals, Values and Interests Technical Issues (Percentage of Responses) HNW Individuals' Responses Advisors' Responses ADVISOR FOCUS TODAY Does advisor focus on technical? Depends who you ask. Does advisor focus on charitable goals, values, interests? Depends who you ask.
  6. 6. HOW IMPORTANT ARE TAX BENEFITS? 46% 40% 78% 10% 6% 45% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Motivation for giving is reducing tax burden HNW individuals would reduce their giving if estate tax were eliminated HNW Individuals would reduce their giving if income tax deductions were eliminated (Percentage of Responses) HNW Individuals' Responses Advisors' Responses
  7. 7. INHIBITORS TO GIVING 30% 24% 17% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% My gift will not be used wisely Lack of knowledge/connection to charity Fear of increased donation requests fromothers Reasons for Why HNW Individuals Don't Give HNW Individuals' Responses
  8. 8. NEXT GEN GIVING 0 5 10 15 20 25 30 35 40 45 50 Advisors saying they provide it Clients who say advisors discuss it Clients who want it A Conversation Clients want and don't often get
  9. 9.  “Among HNW individuals who discuss philanthropy with an advisor, 47% use one or more structured giving vehicles when making donations to charitable organizations — while such vehicles are used by just 12% of individuals who don’t discuss philanthropy with an advisor.” STRUCTURED GIVING VEHICLES RESULT
  10. 10.  “Nearly one-third of HNW individuals (31%) indicate that they would be more likely to choose an advisor who is knowledgeable about charitable giving.”  “More than half of advisors (57%) plan to increase their knowledge about philanthropy and to better their ability to advise clients about charitable giving.” VALUABLE KNOWLEDGE
  11. 11. HIGH CAPACITY DONOR PERSPECTIVE
  12. 12. GIVING IS TOP-HEAVY  Top 10% give 96%  Top 1% give 81%  Top 10% of the 1% give 61% 4 schools, total life time giving. Data from Peter Wylie 2013 at Cooldata.wordpress.copm
  13. 13. A REVOLUTION IN GIVING  “…donors used to support nonprofits to help them achieve their mission. Now we support nonprofits to help us achieve our personal mission.Charles Bronfman and Joel Solomon in The Art of Giving 2010
  14. 14. COPERNICAN REVOLUTION “In the realm of nonprofits, it’s a transformation as dramatic as the one that Copernicus created in society when he discovered that the sun did not revolve around the earth, but the reverse.” The Art of Giving
  15. 15.  How can I use some combination of strategies now, later, at death and beyond death to get the results I want?  For me? My family? For the nonprofits I care about? And through the nonprofit, for the community?  What makes your organization the best investment of my scarce resources? HIGH CAPACITY DONOR PERSPECTIVE
  16. 16.  How much do we need for ourselves?  How much is enough for children?  How much is too much?  How can we have an impact on society?  How can we reduce taxes in favor of children or philanthropy?  “Is that all there is….?” Peggy Lee WHAT IS ON THEIR MINDS? Copyright The American College 2014 16
  17. 17.  73% of Boomers…say there is a responsibility to be philanthropic. US Trust 2012 Insights on Wealth and Worth A RESPONSIBILITY OF WEALTH Copyright The American College 2014 17
  18. 18. CONVERSATION STARTERS
  19. 19. MICHAEL SHAUGHNESSY  What kind of person do you want to be?  In what kind of world? Teaches ethics at St. Ignatius College Prep School in San Francisco
  20. 20.  “Do you recognize any element of luck, blessing, or grace in your success?” - Via Steenhuysen, “Philanthropy Planning,” 2012 National Conference of PPP CHARITABLE PHILOSOPHY
  21. 21.  “What is your rationale for charitable giving?  Do you feel that any of the following play a role in your rationale?  giving back to those who gave to you  making a difference in the world  addressing a specific need that touched your life or the life of a loved one” - Via Steenhuysen, “Philanthropy Planning,” 2012 National Conference of PPP CHARITABLE PHILOSOPHY
  22. 22. ESSENTIAL QUESTIONS  “What principles have guided your legacy planning to date?”  “What are you up against with your children?”  “How wealthy do you want your children to be?”Charles Collier, M. Div. Senior Philanthropic Consultant, Harvard
  23. 23.  What is your vision of a better world?  What conditions are needed to realize it?  What are the obstacles?  What parts of the vision are realistic and what ideas, strategies and plans can make it so? PETER’S QUESTIONS Founded The Philanthroic Initiative
  24. 24.  What would you like to change or preserve in the world?  Has past giving reflected your hopes?  What are the causes behind the issues?  What might change the situation?  Who joins you in this work?  How will you experiment and revise? TRACY GARY’S QUESTIONS
  25. 25.  If your family had a crest what would be the motto?  What keeps you awake at night? CONVERSATION STARTERS Joe Breiteneicher, The late President of TPI
  26. 26.  When you were younger were there things you wanted to accomplish in life you have not yet done?  How might you get back to that while you still have time? CONVERSATION STARTERS
  27. 27.  Beyond self and family is there anything else in the world on which you would like to have a positive impact? CONVERSATION STARTERS
  28. 28. Why? • What kind of person do you want to be? • In what kind of world? How? • Plans • Tools • Gifts Impact? • On self • Family • Community WHERE WILL YOUR LIFE HAVE IMPACT?
  29. 29. WHY WE NEED EACH OTHER
  30. 30. BALANCE SHEET Are you in the room, when the balance sheet is on the table?
  31. 31. “CHARITY OF YOUR CHOICE” Results Strategies Tools Foundation Heirsinancial for family Heirs Tax Charitable “Charity of your Choice”
  32. 32. CHECK YOUR VISION Advisors  Vision, ideals, hopes, aspirations  Needs of organizations and community  Financial goals  Financial facts  Financial strategies  Gifts  To charity of choice  Financial results  Social impact Gift Planner  Vision, ideals, hopes, aspirations  Needs of organization and community  Financial goals  Financial facts  Financial strategies  Gifts  To specific charity  Financial results  Social impact
  33. 33.  Bring together funders and causes.  Serve, in essence, as a local market maker  Help your clients connect to a cause and to a gift plan that will achieve specific social impact  Saves you time, and provides a service for which the best clients are hungry. COMMUNITY FOUNDATIONS
  34. 34. WHAT IT MEANS TO BE A CAP®
  35. 35.  Over 87 Years old, The American College is a non-profit educational institution with the highest level of academic accreditation dedicated to leadership in innovative training and development for financial services professionals.  Teaches such credentials as CLU, ChFC, CFP, MSFS, and CAP.  Over 180,000 living alums. THE AMERICAN COLLEGE
  36. 36. BILL AND SALLIE WALLACE’S GOALS 1. Create national awareness of the need for philanthropic advisors 2. Provide comprehensive common curriculum for fundraisers and advisors 3. Help fundraisers and advisors understand each other’s perspective
  37. 37. • Elicit aspirations • Connect through a good estate plan or financial plan • Steer dollars to orgs that do the most good Advisor, CAP® • Represent org worthy of support • Connect to donor ideals, identity, and life story • Show how programs meet donor criteria • Show “reasonable evidence of results” Nonprofit CAP® GETTING RESULTS TOGETHER
  38. 38. OUR SYMBOL  “What is that pin on your lapel?”  Passion and craft  Art and science  Poetry and practice  Above and below the line  Moral compass and financial capacity  High intentions and proven results
  39. 39. CAP STUDY GROUPS
  40. 40. FOR YOUR COMMUNITY
  41. 41. THE PLANNING TABLE  Attorney  CPA  Trust Officer  Insurance Professional  Investment Advisor  Family Dynamics Consultant  Community Foundation  Single Issue Charity
  42. 42.  GS 839: Planning for Impact in the Context of Family Wealth  GS 849: Charitable Giving Strategies  GS 859: Planning for Impact in the Context of Family Wealth THREE MASTERS COURSES
  43. 43.  Meet every other week to discuss recorded lectures.  Takes about 9 months total.  Lectures lead to exam in exam center  Study Group sessions lead to camaraderie, trust, rapport and ultimately to well informed gift plans. LOGISITICS
  44. 44.  Nonprofit package price $2,700  For-profit $3,100 PRICES
  45. 45. Bryan Clontz Charitable Solutions Lisa Jolley Columbus Foundation THOUGHTS FROM BRYAN AND LISA
  46. 46.  Attend our third session, “How to Organize a CAP® Study Group”  Who should attend? The Community Foundation Convener and a For-Profit Co- Convener NEXT STEPS
  47. 47.  CAP@theamericancollege.edu  We will get back to you with more info on CAP and Study Groups.  Then attend the next session and see if this makes sense for you in your community TO OPT IN OR LEARN MORE
  48. 48. Bryan Clontz Charitable Solutions Lisa Jolley Columbus Foundation Phil Cubeta The American College of Financial Services THANK YOU!

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