It is well established that Australians are increasing their giving. As our society becomes more affluent, more people want to "give something back" to their community.
In line with overseas experience, Australian research indicates professional advisers - solicitors, lawyers, accountants,estate planners and financial advisers - are becoming increasingly interested in providing philanthropic advice and strategies to clients.
There are many benefits for you and your clients if you can provide advice on charitable giving. As a professional adviser, you have the opportunity to help your clients achieve their charitable goals, through planned giving that combines philanthropy with overall financial, taxation and estate planning.
Benefits of advising on philanthropy
Benefits for professional advisers
Advising on charitable giving provides professional advisers with:
- a competitive practice advantage;
- a deeper, richer client relationship;
- greater personal satisfaction from helping clients make a difference.
Benefits for your clients
There are many advantages for your clients in making a significant donation during their lifetime. They include:
The major motivation for philanthropy is to make a difference. It is far more satisfying to see, first hand, the tangible benefits of giving. Working with the Sydney Community Foundation allows your client to meet recipient organisations and experience the work that they are doing.
Many donors not only want to donate part of their wealth, they also wish to contribute time to their chosen cause. Many Sydney Community Foundation local projects provide donors with the opportunity to become actively involved.
Having made the decision to support a worthy cause, many parents are keen for their children to learn by example. By donating during their lifetime, parents have the opportunity to not only establish a family culture of philanthropy, but also pass on their social conscience to the next generation.
It may be more tax effective to make a donation during one's lifetime rather than via a bequest nominated in one's estate. This is a complex area requiring specific tax advice from an accountant. The Sydney Community Foundation works with professional advisers to ensure that appropriate and adequate information is available.
It is important to ensure that potential donors are comfortable to give without significantly impacting on their own lifestyle in the future. Financial advisers have the skills and analytical tools to assess whether their clients have surplus capital and how best to manage cash flow in the future.
Professional Advisers Network
If you require more technical knowledge and understanding of the various options available to assist your clients in fulfilling their charitable giving intentions, the professional advisers network offered by the Sydney Community Foundation will be of use. The network meets quarterly over a casual lunch to hear from experts in the field of charitable giving. The presentations are a mix of technical input and practical case studies, with plenty of opportunities for participants to discuss current professional issues.
The network brings together a group of like-minded professional advisers who are passionate about supporting clients in their charitable giving intentions. The workshops serve as a forum to share ideas, support, educate, develop resources and to raise awareness of charitable giving and philanthropic structures available to clients.
To view the calendar for the professional advisers network click here.
If you provide professional services to clients in the field of philanthropic giving and you would like to join this network, please send an email with your contact details to firstname.lastname@example.org.
You can read the Powerpoint presentations given by previous speakers.
27 November 2012
Impact of current NFP sector reforms - an Update
John King, Consultant, Prolegis
Why invest in charities?
Michael Walsh, founder and Executive Director, Givewell
PDF format [1,433KB]
Tax Effective Giving
Michelle Hartman, Director, Taxation Consulting, Deloitte Private
PDF format [453KB]
Women clients - keen to change the world!
Belinda Morrissey, Director Philanthropic Development, Sydney Community Foundation
Kristi Mansfield, Project Director, Sydney Women's Fund - a subfund of the SCF
Options for giving
Denis Tracey, philanthropy academic
PDF format [287KB]
Charitable giving and tax issues (including social investment)
John King, Partner, Mallesons
PDF format [209KB]
New laws for Private Ancillary Funds
John Emerson AM, Partner, Freehills
PDF format [119KB]
Giving by bequest
David Knowles, Head of Philanthropy, Perpetual
PPFs - success to significance
Gina Anderson, CEO, Philanthropy Australia
PDF format [313KB] |
Philanthropic giving in a financial downturn - is it discretionary spending?
Fiona Archer, Director, Philanthropic Services, First Unity Philanthropic Services
PDF format [54KB]
Getting Structure And Strategy Right
Michael Perkins, Special Counsel, Cutlers Hughes + Harris PDF format [384KB]
Stephen Mills, CEO, ShareGift Australia PDF format [67KB]
Pockets of Opportunity
Virakone Sengchanh, Technical Research Analyst, Centric Wealth Presentation [94KB]
The Lutheran Community Foundation - working with professional advisers
Chris Andersen, CEO, The Lutheran Community Foundation (Minneapolis) PDF format [759KB]
Community Foundations As A Vehicle For Giving Locally
Jane Kenny, Executive Officer, Sydney Community Foundation PDF format [150KB]
Charitable Giving And Tax Issues
John King, Partner, Mallesons Stephen Jaques Sydney PDF format [153KB]
Philanthropy Australia - the view from the peak body
Gina Anderson, CEO, Philanthropy Australia PDF format [169KB]
The Art Of Giving - Tax Angles
Richard Friend, Principal, Balena Tassa PDF format [418KB]