Investing

Charitable guidance to close out 2020

Use a giving tool

Once you figure out how much you’re giving and which assets you’re donating, you might want to think about how you should give—specifically whether you should use a giving tool. There are a few different types of giving tools—private foundations, donor-advised funds, charitable trusts—and they differ in terms of features and cost. While comparing and contrasting your options, keep in mind you can often use many giving tools together.

There are ways to make the giving budget you have stretch further. A giving tool is one great way to do this. The purpose of a giving tool is simple: to transfer assets to charitable causes in a planful way that makes financial sense for you, and grows the amount you’re able to give over time.

Learn more about what to consider when choosing a giving tool

Important: If you’re planning to use a giving tool, make sure you pay close attention to the fees. It’s important to remember that the lower the fees, the more money will be available to donate to the charities you admire. At Vanguard Charitable, our donor-advised fund comes with the lowest all-in fee in the industry—86% lower than the industry average.* That translates into extra dollars available for the causes you care most about.

As 2020 ends, I’m reminded of how interconnected we all are. No matter where in this country or on this planet we live, the pandemic has affected us all in one way or another. For me, this underscores the responsibility we have to one another. And when we seek to give back, taking a strategic approach can make our giving go even further.  

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