Think Local for Charities, Too

Tim Barrett - Charities

Tim Barrett, Senior Vice President – Louisville, KY

Local charities deliver essential goods, therapies, counseling, refuge and support to needful members of our community. Many local organizations benefit from charitable gifts and volunteerism because a particular need is featured in the news or online.

Giving USA 2015, The Annual Report of Philanthropy, indicates that contributions to charities fell off in 2008 with the recession but have been rising every year since. The 2015 Bureau of Labor Statistics Report confirms that the only 25% of all Americans volunteer each year. The most common reason for taking action was because a charitable organization approached them. I say, don’t wait to be asked.

As a planner, I encourage my clients to budget for charitable gifting every year. We research the local organizations to find the best recipients. Experts encourage gifting to charities with low fundraising and administrative costs. But many charitable missions require more administration. Many lesser known charities must spend simply to raise awareness. Still, be wary of those who spend heavily on promotion.

2017 is going to be challenging year for charities, even more so for those delivering health services to the uninsured. So if you feel a call to action, think local, volunteer, and gift smart.

About

Argent Financial Group

Celebrating its 30th anniversary in 2020, Argent Financial Group (Argent) is a leading, independent, fiduciary wealth management firm. Responsible for more than $30 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trust and estate administration, investment management, ESOPs, retirement plan consulting, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.

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