E15: Sustainable Giving: Strategies for Making a Lasting Impact with Chuck Day

Wealth Well Done

Meet Chuck Day, a philanthropist with over 25 years of experience in the industry. With a law degree from Drake University, Chuck has dedicated his career to making a positive impact on the world through giving. In this two-part show, Chuck shares his insights on the mindset of a giver and the strategies he uses to approach giving at the highest level. Whether you're an individual looking to enhance your giving or a foundation seeking to optimize your impact, you won't want to miss this episode. Get ready to be inspired and motivated to take your giving to the next level.

Here are some topics from today’s discussion:

• The impact of dollars on the environment
• Sustainability in giving
• Why a hand-up is always better than a handout
• How to balance your giving: locally vs. abroad
• Differences between a good foundation and an average individual donor
• The characteristics of a good foundation
• The generation transition into giving
• How wealth increases the level of giving
• How to engage your grandchildren in developing generosity

Episode Highlights:

[08:47] Sustainability in Giving: Making a Lasting Impact in the Developing World and Beyond

Sustainability is crucial for generosity, particularly in the developing world. To avoid leaving communities feeling frustrated and disillusioned, it's essential to use sustainable business models that provide long-term investment and support. Success must be measured consistently throughout the process, with resources invested for the long haul. Prioritizing sustainability creates a positive impact that reinforces the idea of giving as a powerful force for change, locally and overseas. By prioritizing sustainability, we can ensure that our efforts make a lasting and meaningful impact on the world.

[10:08] A Hand-Up vs. a Handout

A "hand-up" approach is far superior to a "handout." Providing a hand-up offers a more effective and sustainable solution that affirms human dignity, utilizes individuals' innate talents, and engages local investment and involvement. Ultimately, this approach determines the long-term success of any giving effort. While handouts may be appropriate for short-term disaster relief efforts, anything more engaging requires careful consideration to ensure that it's a hand-up and not a handout. By using a hand-up approach, we can create an immeasurable positive impact that lasts far beyond the immediate present.

[11:54] How to Balance Your Giving: Locally vs. Abroad

Treat your charitable giving like for-profit investing. Create different "buckets" that offer both short and long-term results, just as you would for stocks or bonds. Assess what matters most to you, where you feel called to make a difference, and what tugs at your heartstrings. Create a bucket for each cause and allocate resources accordingly. Applying the same level of due diligence to your philanthropic giving as you would to for-profit investing is vital to ensure a solid plan and successful execution. This approach allows you to make a meaningful impact in areas that matter most while guaranteeing that your giving is strategic and effective.

[16:00] Characteristics of a Good Foundation

Giving should bring joy and fulfillment to individuals and families. Addressing significant problems in the world and making a positive impact should be something eagerly anticipated, rather than a chore. Having a strategic plan in place is vital for success and continued enjoyment of giving. With a plan, you can achieve better results and experience greater happiness while giving. By setting yourself up for success, you ensure that giving remains a source of joy for years to come.

Resources:

https://legacy.ijm.org/

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