An excerpt from 3 Ways to Optimize a Charitable Gift, by Jessica Hicks:
Create or give to a field-of-interest fund
If you aren’t sold on a particular recipient, or want your donation to span several organizations, Jane Wilton, the general counsel of the New York Community Trust, recommends donating to a field-of-interest fund. “Field-of-interest funds are dedicated to addressing the donors particular areas of interest such as hunger, education, or health care,” Wilton tells Thrive. A field-of-interest fund not only combines your gift with others to make a bigger impact, but also ensures your gift is going where it is most needed. By donating to a broader cause, such as health care, your money will be given to the most pressing health care problem at the time, and will change accordingly.
Read the full article on Optimizing a Charitable Gift here.
Jane Wilton, The Trust’s general counsel, has advised prospective donors and their professional advisors on charitable matters for 20 years. Jane writes many of The Trust’s Professional Tax and Estate Planning Notes, a series for attorneys and other advisors working in estate and financial planning.