On this episode of A Wiser Retirement Podcast, Casey Smith and Brad Lyons CFP® are joined by Barbara Garner, Donor Services Manager at Cobb Community Foundation. Barbara was a guest on episode 73 of our podcast last year when we talked about what donor advised funds are. She is joining us to talk about leaving a legacy of generosity. 

Listen on Apple Podcasts or watch on YouTube:

SUMMARY:

What is Cobb Community Foundation?

Cobb Community Foundation is a grant-making non-profit that collaborates with stakeholders in the community to identify the greatest needs in the Cobb county area and beyond. Then, they work with donors and funds to impact those needs. They are also a charitable fund manager, which means they work with charitable families and businesses to set up donor-advised funds.

How to Leave a Legacy of Generosity

A good way to live a life of generosity is to have a family donor-advised fund. Start by teaching your children about community involvement. Then, as a family, list out organizations that you would like to give to. The last step is to give! Budget accordingly, and give back when you feel comfortable!

Choosing a Non-Profit Organization

When you give back, it is important to understand the effectiveness of each organization. Make sure the organization you choose is trustworthy. Cobb Community Foundation is directly integrated with the community, and they see the effectiveness of each organization, which makes them great to work with in finding the best organizations for you to give towards. Cobb Community Foundation does its due diligence. They do this by gathering research on GuideStar, looking at long-term sustainability metrics, and making sure they are a 501c3 non-profit organization.

How to Get Involved & Give Back

If you would like your grant to stay anonymous, come up with a name that is unrelated to your family. Remember, grants can be large or small. You don’t have to be extremely wealthy to give back to the community. If you’d rather take a different route, there are many other ways to give! If this interests you,  Cobb Community Connection allows you to see current volunteer opportunities and initiatives. Make a difference in your community today!

Cobb Community Foundation’s Non-Profit Bus Tour

Cobb Community Foundation hosts a non-profit bus tour quarterly. This allows fund holders to visit non-profits and get a deeper look into each organization. It helps to see the impact you could have on the community. It is also a great opportunity to learn more about your community.

Financial Benefit of Giving

Keep in mind, that if you choose to give back to the community, there are tax deductions you can utilize. A CPA can help you look for those opportunities.

Download our white paper on “7 Steps to Leave a Financial Legacy”

TIMESTAMPS:

0:00 Intro

1:22 What is Cobb Community Foundation?

4:09 How to Leave a Legacy of Generosity

7:53 Choosing a Non-Profit Organization

9:11 How can business owners participate?

13:06 How to Get Involved & Give Back

21:28 Cobb Community Foundation’s Non-Profit Bus Tour

33:20 Financial Benefit of Giving

LINKS:

Learn more about Casey Smith and connect with him on Twitter.

Learn more about Brad Lyons, CFP®.

CONNECT:

Twitter, Instagram, Facebook, LinkedIn, and YouTube.

Learn more about A Wiser Retirement podcast and access previous episodes.