Being able to make a positive difference in the world is a great privilege. However, having a strategy to maximise the impact of your giving takes technical expertise, experience and time – 3 assets that a philanthropy specialist can provide.

To ensure your giving has the impact you intend, it’s best to get specialist advice

Most donors want their philanthropic proceeds to be used effectively and to feel the satisfaction of doing good, but navigating the world of philanthropy can be a challenge. Knowing how and where to give to maximise impact requires experience and expertise.

Even if you do have considerable knowledge about philanthropy, you may not have the time to develop and implement a strategy, and a philanthropic specialist could help. Philanthropic specialists are individuals or teams hired by a donor or family to navigate the how, what, and why of giving. They help donors improve charitable outcomes.

When can you benefit from the expert advice of a philanthropic specialist?

When your philanthropic efforts require more time and focus than you can afford to give to it

Anyone who has attempted any form of financial planning knows how time-consuming it can be. In fact, it’s one of the reasons why many people appoint a financial planner or wealth manager. Philanthropic planning can be equally demanding and complex. If you don’t have sufficient time to dedicate to your philanthropic efforts, a philanthropic specialist can:

• help you focus on the causes and issues that matter most to you to develop a tailored, proactive plan for your giving,
• conduct research on and evaluate non-profits,
• help you decide where to give, how much to give and over what period, and
• manage relationships with non-profits, especially if you prefer to remain anonymous.

When a change in your financial situation enables you to give more

If you have received a financial windfall and have more to give than in the past, a philanthropic specialist can help you clarify your charitable priorities and motivations and put a well-defined plan in place, so that you can be confident in your decisions.

When you would like in-depth information about a specific cause

If you are interested in supporting a specific topic or issue, a philanthropic specialist can use their expertise to conduct research, look for key funding opportunities, and identify high-impact organisations that are working in that sector or area.

When you want to understand your charitable impact

A philanthropic specialist can help you:

• track the impact of your giving by monitoring and evaluating grants you have made to non-profits, and
• follow up with non-profit employees and analyse reports provided by the organisations to determine if your charitable goals are being met.

This tracking can also inform discussions about potential adjustments to your giving strategy.

Philanthropic advisers provide a range of services that can help you optimise your giving

Design a strategy or plan for giving

Help you clarify your values, mission and goals.

Identify other aligned funders or learning partners

Help donors who wish to make a bigger impact in a specific area to identify like-minded individuals with whom to meet and collaborate.

Support and facilitate discussions among families

Giving together as a family can be a rewarding experience, but it’s not always easy. Philanthropic specialists can:

• give your family the tools to examine each family member’s interest and desire to participate in family philanthropy,
• use that information to define each family member’s role in your family’s philanthropic intent, and
• provide support in deciding where and how your family should focus resources as a group and/or as individuals.

Evaluate the impact of donor grants

Help you understand how and if your giving is leading to the outcomes you hope to achieve.

Identify giving opportunities and carry out plans

You may know what causes are important to you, but still need assistance finding the right non-profits and giving opportunities. Philanthropic specialists use their expertise and professional relationships to match your charitable vision with suitable organisations or projects, and they can help structure the funding agreements as well.

Coordinate with your financial planner or wealth manager and other advisers

Philanthropic specialists focus on matters related to the distribution of charitable assets. However, it is critical that they work with your financial planner or wealth manager, tax attorney, estate planner and other experts involved in your financial matters to determine:

• which assets to give to charity and when,
• which giving vehicles are most appropriate, and
• how best to integrate charitable giving goals into your broader financial plan.

How you work with a philanthropic specialist depends on your specific goals and timeframe

There are several approaches to working with a philanthropic specialist. The nature of your philanthropy goals and timeframe will determine which approach may be most suitable for you, which will in turn also inform your level of engagement with your philanthropic adviser. Below are the 3 high-level approaches:
 

• Short term
  
  This involves engaging a philanthropic specialist for a single, limited project, such as to define a giving plan or to prepare for a family transition that will change giving roles. In these scenarios the specialist serves as a short-term consultant to assist with a temporary need. 
  
  
• Long term
  
  Some donors require the expertise of a philanthropic specialist for an extended time, such as to support the management and execution of a long-term giving plan that requires consistent assessment and attention.
  
  
• Occasional
  
  Dedicated givers who have ongoing but undefined goals may engage a specialist to provide occasional advice. In these cases, the specialist can serve as a sounding board to work through questions relating to specific gifts, family dynamics or other challenges.

We offer award-winning philanthropic advice and services

At Nedbank, we are committed to growing and strengthening the philanthropic and social sector in South Africa. Through our Philanthropy Office we seek to share our expertise, impartial advice and a range of proven services to help ensure your giving is well-structured, sustainable and having the impact you envision as an individual, family or business.

We have won the philanthropic advice category of the prestigious Euromoney Private Banking and Wealth Management Survey for 5 consecutive years. You can have peace of mind that you are partnering with the best. We also provide advice and support to non-profit organisations to help ensure financial resilience and sustainability.

Want to know more?

Here’s what to do:

• Contact your wealth manager.
• Find out more about our Philanthropy offering.
• If you’re not a client yet and want to find out more about how we can help you achieve your philanthropic goals, we would love to hear from you. You can contact us on 0800 111 263 or complete an online contact form.