This blog was written by Tom Murray (tom.murray@charityflow.co.uk) of CharityFlow.

Charitable giving is a very personal activity and people have many different motives for engaging. This is why thinking about philanthropy planning should start with you and not with the cause that you want to support.

Good philanthropy is defined not by the size of the gift that has been made but by what that gift has accomplished. Even when you know what you want to accomplish the breadth of opportunity to allow you to engage can mean that, without focus, your giving is spread so thinly that none of it ever amounts to much.

You need to be clear about your own values. Philanthropy will be far more rewarding, both for you and your causes, when it is shaped by your passions. Values may be qualities of being such as equality, integrity and justice or particular worldview such as believing in free trade and market driven solutions. Your values will shape your behaviour and the way you will evaluate projects. Choosing your priorities is a value driven decision.

You should think broadly about what really matters to you. Some commentators have broken causes down into the following broad categories: people; problems; places; pathways and philosophies. The reason for asking this question is not to start defining a strategy but rather just to help you be clear about what you care most about.

Generally, structural change requires input not only from the charity sector but also from business and government. For example, you might believe in improving opportunities for disadvantaged young people in your community. For this outcome to be achieved businesses will need to create employment opportunities and the local Education Authority will need to be involved. You need to decide where in the mix your own inputs can be most effective and recognise that you will need to work in partnership with others to achieve results.

You also need to be clear about what you want to contribute. It may be that you want to gift money and let others who share your values and concerns make the changes, or it may be that you want to get directly involved in the cause. You need to be clear about this. Too many substantial donors think that because they have made a gift to a charity, they have a right to direct how it operates leading to dissatisfaction on everyone’s part. If you want to use your talents to help run an organisation, say so at the start.

Clarity right at the start, before you have even started to begin giving, is the key to a successful personal philanthropy plan. Ambiguity will only lead to problems later.

Helen Learmonth
Director and Financial Planner – WealthFlow
helen.learmonth@wealthflow.com

This article is distributed for educational purposes and should not be considered investment advice or an offer of any product for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed. Past performance is not indicative of future results and no representation is made that the stated results will be replicated. Errors and omissions excepted.

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WealthFlow Group Ltd. Registered in Scotland No SC635011. Registered Office: 10 Charlotte Square, Edinburgh EH2 4DR.

Head Office & Consulting Rooms: 10 Charlotte Square, Edinburgh EH2 4DR.

Mail correspondence to our Central Scotland Admin Hub: WealthFlow Group Limited, PO Box 14947, Grangemouth FK3 3AU.

WealthFlow Group Ltd is authorised and regulated by the Financial Conduct Authority.

The guidance/advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK.

For your protection, unresolved complaints can be referred to the Financial Ombudsman Service.

To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

WealthFlow Group Ltd. Registered in Scotland No SC635011. Registered Office: 10 Charlotte Square, Edinburgh EH2 4DR.