Philanthropy 101 with special guest Lisa Sands

01/20/22 • 42 min

Over the past few months, I noticed myself having the same conversation over and over with clients - they wanted to include a charitable donation as part of their estate planning, but had no idea how to choose a charity or where to start. I realized that people are generally a bit curious about what it means to be a "philanthropist". Sure, there are tax benefits to making a charitable donation, but there are many other reasons why a person might decide to donate to a charitable organization.

This episode is the first in a 2-part series on "philanthropy". In this episode, I chat with special guest, Lisa Sands (Chief Development Officer, RUH Foundation) about: (1) Top things to keep in mind when trying to decide on a charitable gift (10:45); (2) the process for charitable giving - what it can look like to donate in life or as part of your estate planning (22:40); and (3) the Women Leading Philanthropy group (31:01).

Stay tuned for the next episode, where I will dive into the tax benefits of philanthropic giving, and also discuss some of the planning opportunities available.

P.S. In this episode, I am debuting some new music created by my husband to kick off Season 3! He calls this beat, "Tropical Tax Chick"... can't you just taste the pina coladas?!?

RESOURCES DISCUSSED ON THE EPISODE

"I Shake my Head with Lisa and Sam" Podcast: https://podcasts.apple.com/us/podcast/i-shake-my-head/id1232121527
"With Less" Newsletter from Marty Finestone: https://legaladjacency.com/with-less/
CRA Charities Directorate: https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/dsplyBscSrch?request_locale=en
RUH Foundation: https://ruhf.org/
Women Leading Philanthropy (RUH Foundation): https://ruhf.org/women-leading-philanthropy/
YouTube Channel for RUH Foundation: https://www.youtube.com/channel/UCUu4nSywH8WtF7lQHZVgFTQ

MORE FROM LISA:

Email: [email protected]
Facebook: https://www.facebook.com/RoyalUniversityHospitalFoundation/
Twitter: https://twitter.com/RUHFoundation
IG: https://www.instagram.com/ruhfoundation/
LinkedIn: https://www.linkedin.com/company/royal-university-hospital-foundation/

MORE FROM AMANDA

Sign up for "Musings of a Tax Chick": http://eepurl.com/hNbXcb
The Tax Chick Blog - https://taxchickca.wordpress.com;
Connect with me by email: [email protected]
LinkedIn: https://www.linkedin.com/in/amandasadoucette
Instagram: @tax.chick

Stay tuned for the next episode, where I will dive into the tax benefits of philanthropic giving, and also discuss some of the planning opportunities available.

P.S. In this episode, I am debuting some new music created by my husband to kick off Season 3! He calls this beat, "Tropical Tax Chick"... can't you just taste the pina coladas?!?

RESOURCES DISCUSSED ON THE EPISODE

"I Shake my Head with Lisa and Sam" Podcast: https://podcasts.apple.com/us/podcast/i-shake-my-head/id1232121527
"With Less" Newsletter from Marty Finestone: https://legaladjacency.com/with-less/
CRA Charities Directorate: https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/dsplyBscSrch?request_locale=en
RUH Foundation: https://ruhf.org/
Women Leading Philanthropy (RUH Foundation): https://ruhf.org/women-leading-philanthropy/
YouTube Channel for RUH Foundation: https://www.youtube.com/channel/UCUu4nSywH8WtF7lQHZVgFTQ

MORE FROM LISA:

Email: [email protected]
Facebook: https://www.facebook.com/RoyalUniversityHospitalFoundation/
Twitter: https://twitter.com/RUHFoundation
IG: https://www.instagram.com/ruhfoundation/
LinkedIn: https://www.linkedin.com/company/royal-university-hospital-foundation/

MORE FROM AMANDA

Sign up for "Musings of a Tax Chick": http://eepurl.com/hNbXcb
The Tax Chick Blog - https://taxchickca.wordpress.com;
Connect with me by email: [email protected]
LinkedIn: https://www.linkedin.com/in/amandasadoucette
Instagram: @tax.chick

Previous Episode

A fireside chat with a valuator - featuring special guest, JT Dhoot

Have you ever had to obtain a formal "valuation" for something? Sometimes financial institutions will want a valuation if you are trying to get a mortgage to purchase a property. Other times, you may need to get a formal valuation before you can sell something - like a collection of artwork, or even your business. Sometimes Canada Revenue Agency will disagree with your value, and put their own valuators on the case.

But when you hear the phrase, "You should get a formal valuation" do you know what that means? I know when I first became a lawyer, I had no idea what that meant! Over the years, I have learned more about the valuation process each time I have had to work with a valuator to help one of my clients. So, in this episode of The Tax Chick Podcast I am sharing a conversation that I had with, JT Dhoot of Omnis Valuations and Advisory Ltd. We discuss: (1) the different types of valuations (7:04); (2) the information you should gather if you are looking to get a valuation (14:50); and (3) reasons why you might need to get a valuation (25:27).

RESOURCES DISCUSSED ON THE EPISODE

Gary Vee Podcast: https://www.garyvaynerchuk.com/podcast/
Appraisal Institute of Canada: https://www.aicanada.ca/need-an-appraiser/find-an-appraiser/
Chartered Business Valuators Institute: https://cbvinstitute.com/membership-lookup/

MORE FROM JT:

LinkedIn (Personal): https://www.linkedin.com/in/jtdhoot/
LinkedIn (Omnis Valuations and Advisory) :https://ca.linkedin.com/company/omnis-valuations-and-advisory-ltd
Website: https://omnisvaluations.com/
Twitter: https://twitter.com/OmnisValuations
Facebook: https://www.facebook.com/omnisvaluations247/

MORE FROM AMANDA

The Tax Chick Blog - https://taxchickca.wordpress.com;
Connect with me by email: [email protected]
LinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/
Instagram: @tax.chick
Sign up for my Newsletter! http://eepurl.com/hNbXcb

Next Episode

Discussing Philanthropy with your Advisor, with special guest, Shane Biehn

This episode is a continuation of the discussion on "philanthropy". Let's say you decide you want to explore the option of a charitable gift (or you are at least curious about your options). In today's episode, I chat with my special guest, Shane Biehn, about the conversations that you need to be having with your advisor around charitable giving. We talk about: (1) what it means to be "philanthropic" and how to start the conversation with your advisor (9:25); (2) Taxation of charitable donations (16:01) and different vehicles that you can use to give a charitable donation (hint: it is not just cash) (22:35); and (3) a new initiative in Canada called, "WillPower" (42:02).

Have you heard of "a gift of appreciated securities" or "donor advised funds"? Well, after listening to this episode you will not only understand what those phrases mean, but be able to have a chat with your family and/or your advisor about each of them!

RESOURCES DISCUSSED ON THE EPISODE:

"The Mindset Mentor" Podcast: https://podcasts.apple.com/ca/podcast/the-mindset-mentor/id1033048640
"Fantasy Footballers" Podcast: https://www.thefantasyfootballers.com/fantasy-football-podcast/
WillPower: https://www.willpower.ca/
Canadian Association of Charitable Gift Planners: https://www.cagp-acpdp.org/
Infographic: https://cagp-acpdp.aweb.page/canadiangiftsinwills

MORE FROM SHANE:

MORE FROM AMANDA