A more strategic way to give

A more strategic way for clients to give

Bill-Holland---Chair

By Bill Holland, Partner, Holland Beckett Law
CFNZ Board member
24 August 2017 

As a lawyer I think it’s a privilege of developing what can be very strong and longstanding relationships with my clients.  They come to us as trusted advisers, seeking guidance on a range of issues, and sometimes not of a strictly legal nature.

As professionals, it is definitely not for us to be telling clients what they should be doing in their Wills. It is incumbent on us however to fully advise our clients of options that are available when making a Will.

People without children who have worked hard to establish their financial security are sometimes genuinely frustrated at just not knowing what to do with their estates.  For these people, the idea of making a positive difference to their community on a permanent basis by having income paid to their chosen charity every year forever, is a very attractive one.

Likewise, parents with children naturally want to help their children first, but many love the idea of leaving, say, 10% of their estate to their local community foundation to provide that same long-term benefit to their community.

As a lawyer, I often know my clients very well.  When they seek my advice on their making their Wills, the discussion can often lead to charitable giving and I then explain that could be either a direct gift to a charity or a permanent endowment gift through a community foundation.  My experience has been that most seem to prefer endowment giving.

I have never sensed any resentment from clients for having raised the option of charitable giving.  On the contrary, I have had many clients who have become very enthusiastic.  Not only have they made provision for in their Wills, but in many cases they have chosen to start giving while they are living.  One client said, “It is better to give with a warm hand than a cold one”, but then she confessed that what was even better was getting the 33% tax refund on her gift!

If you are a lawyer or professional financial advisor and you are not familiar with your local community foundation already, I suggest that you get in touch. They are a powerful connector of generosity to local causes and, as a lawyer, your role in the process is key.

 

See Bill Holland’s article in the New Zealand Law Society’s Lawtalk magazine

Hear Bill Holland’s interview on Radio NZ all about community foundations – 12 October 2017

Contact your local community foundation

Wisdom from Canada

Wisdom from Canada

liz palmieriLiz Palmieri
Liz Palmieri and Associates (former Executive Director of Niagara Community Foundation)
8 August 2017

This year in Ottawa I was pleased to have the opportunity to meet representatives from community foundations in New Zealand, where community foundations are fairly new by world standards and growing. It made me think of Canada decades ago and I’m excited for New Zealand as it heads into the next stages of growing the movement.

I was honoured to then be invited to run a workshop for community foundations in New Zealand, I gather on the strength of my experience as the first Executive Director of the Niagara Community Foundation in Canada.  I started there in 2001 and we were housed in an office that was donated by a local newspaper. We had raised enough operating funds to cover the first three years of operation and I was the only staff person. It was very small beginnings and, looking back, quite terrifying at times when you are expected to do everything.

I left Niagara Community Foundation in May 2016 and it was through the support and commitment of so many wonderful volunteers, donors, and supporters that our foundation increased our assets to $30 million and our annual grants being made are at more than $1.3 million.

I’m looking forward to leading and participating in sessions at the New Zealand workshop, I am sure that I will learn lots from New Zealand community foundations and am looking forward to sharing lessons learned and best practices from the Canadian community foundation movement.  I believe that much of what I learned along the way will be particularly relevant as the movement grows in New Zealand.

During the years that we were building our community foundation in Niagara the support that we received from Community Foundations of Canada, as well as our peers across the country, was instrumental to our success.  We shared resources, policies, and practices so we didn’t have to invent the wheel every step of the way.  We could also ask dumb questions to our colleagues and it was their answers that made us appear brilliant to our Trustees!

There is a saying in the community foundation movement that “when you see one community foundation you see one community foundation”.  While we fundamentally are in the same business, we are all unique in how we reflect our own communities within our community foundation.

See you in Wellington in September, I am so looking forward to doing what I can to assist in building momentum in New Zealand.

 

See the CFNZ Workshop Programme at the link here.