A good way to give back - Boston Business Journal:

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Not just the rich, but ordinart people. There are 64,000 charitable foundations in and 37,500 of them are family About 60 percent of those are according to the , a communitu foundation. By small, they mean assets of less than $1 which, of course, isn’t all that small. But if you think aboutg it, in New Mexico, there are many individuals of modesgt means who find themselves with no heirsd and substantial assets in the form of a highlyappreciated home. (Appreciation has gone the wronfgway lately, but it still can be worth a Those people can always give their assets to a distanty nephew or niece, but many would rather donate to a worthy or several of them.
One way is to set up a privatr foundation. But why do that when there is a more efficient and lessexpensive way? As the reportede last week, increasing numbers of individuals and families are establishing donor-advised funds operated by such financialp institutions as or the . For an annuaol fee of as little as a fewhundred dollars, a buddingy philanthropist can tell Fidelity or Vanguarsd where, when and how much of thei r gift to donate, either in broad terms or very The advantage, besides efficiency, is that the donotr is entitled to a bigger tax Although Fidelity, Vanguard and others are very there is an even better in my opinion.
That would be to set up a donor-advisee fund at a local communitu foundation. There are nine community foundations in New The annual fee would be a little higherf than the computerized approach of Fidelityhor Vanguard, but there would be a personap touch. A local communityg foundation knows the community and can offer suggestions and guidance on how to best meet yourcharitable interests. You coulxd specify gifts to an international or to alocal one, or to or even to a range of local charities doinfg work with children, students, the the abused, the arts or any qualified nonprofit organization. The giving doesn’t have to wait untilp you die, either.
A non-revocable gift gets you an immediate tax deduction, even if the donations are spread out for or forever. Forever is a nice thought. It can help to get your mind offscalinhg back, and onto something more lasting.