January 2018

Mohammad Anas Wahaj | 28 jan 2018

Philanthropic giving is often influenced by governmental tax policies, social sector needs, economic conditions etc. Bruce DeBoskey, Philanthropic Strategist and Founder of The DeBoskey Group, explains the transformations that will happen in philanthropy - (1) 'Trickle-down philanthropy' not likely: It is a philanthropic notion that lowering taxes for businesses and corporations will result in increase charity and philanthropic giving. The new federal income tax law doubles the standardized deduction and will likely reduce giving by US$ 20 billion in 2018. Wealthiest 5% only give to big institutions like universities and hospitals and less to local, social service and safety-net nonprofits. While middle class donors, without tax incentives now have less to give to their historical segment, local and smaller charities. Moreover, increased estate tax exemption takes away any tax incentive for all except a minority 1800 richest Americans, further reducing giving by more billions. (2) Trump-inspired giving will sustain: Last year politically-motivated 'rage philanthropy' was a big trend. This will continue in 2018 and most will likely continue to use philanthropy as an important and influential form of civic engagement.(3) Giving circles will continue to grow: There will be growth in collective giving. According to the report by The Collective Giving Research Group, giving circles are 'a highly accessible and effective philanthropic strategy to democratize and diversity philanthropy, engage new donors, and increase local giving.' (4) Impact investing will flourish: According to US SIF Foundation, that monitors sustainable, responsible and impact investing, trillions of U.S. dollars of assets are under management using environmental, social and governance factors. In 2018 more foundations will 'put their money where their missions are' and work to achieve their missions from the engine of their philanthropic assets. (5) Benefits of volunteering recognized: Ichiro Kawachi, professor of social epidemiology at Harvard's School of Public Health, says, 'Voluntarism is good for the health of people who receive social support, but also good for the health of people who offer their help.' Such research studies will inspire increase in volunteering opportunities and activities. (6) Philanthropic strategy to go 'mainstream': Philanthropy now is much more than just a monetary transation. It is considered as a strategic and intentional investment that can be transformational - for both society and the donor. Read on...

The Denver Post: On Philanthropy - Six trends to affect philanthropic landscape in 2018
Author: Bruce DeBoskey

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