“Giving Tuesday” was founded in 2012 by New York City’s 92nd Street YMCA in partnership with the United Nations. The focus was on encouraging charitable giving and was held on the first Tuesday after the Thanksgiving holiday.
The concept quickly caught on around the world and is now an established annual event, spinning out into an independent foundation in 2019. Part of the wide appeal of Giving Tuesday is that it provides an antidote to the rampant consumerism associated with Black Friday and, more recently, Cyber Monday.
In the spirit of Christmas, Hanukkah, Kwanzaa and other holidays in December, philanthropic giving helps remind all of us of the true meaning of the season. And from a practical standpoint, it’s the end of the calendar year – a perfect time to think about tax write-offs.
Join the Movement
This year, more than ever before, charities are having a difficult time drumming up donations. There is unprecedented demand at food banks and other organizations that are working to help those who have been displaced or are suffering economic instability due to the pandemic.
Many nonprofits are struggling as charitable contributions decrease, while at the same time their needs are increasing. Giving Tuesday and other charitable giving can help these local organizations keep their doors open. If you have not participated before, you may be wondering where to start.
Home is always a good place to begin. Find out how charities in your community are faring and where your dollars can make the biggest impact. Or consider where your passions lie, and focus on a cause that is the most near and dear to your heart.
Passing it Along
The advisors at Blankinship and Foster are passionate about giving back to our San Diego community. We have a long history of getting involved with local nonprofit organizations and taking an active role in making positive change happen.
Charitable giving is not limited to yearly contributions on days like Giving Tuesday. It can also be an important part of estate planning. Speak with one of our financial advisors about how you can make a lasting contribution to your cause by including charitable trust planning in your wealth management plan.