There’s no better time than the holidays to begin teaching philanthropy to children. During the season of giving, kids can become aware of the needs of others, the charities that serve those needs, and how they can help those charities financially.
That’s the idea behind the Philanthropic Kids Club administered by the Western Colorado Community Foundation (WCCF).
The Philanthropic Kids Club is a way for families to establish donor-advised funds that let children or grandchildren determine how the annual proceeds are distributed. “The donor-advised fund is by far the favorite for donors because it’s so flexible,” says Anne Wenzel, executive director of the WCCF.
Depending on the amount invested, Kids Club funds generally produce up to a few hundred dollars a year that children can recommend for distribution, Wenzel says. Annually, often during the holidays or around children’s birthdays, families that have Kids Club funds gather to research charities, discuss what’s important to children in their giving, and determine the fund distribution. The funds can make philanthropy a family activity that emphasizes the holiday spirit of generosity and giving.
“We see a lot of kids’ grants going to Roice Hurst Humane Society or save-the-animals type of causes,” Wenzel says.
Wenzel says she set up a fund for her children that has made them more aware of the needs in the community.
“I started my kids when they were 6,” she says. “We talk to the kids about why you give and how do you determine who to give to when there are so many needs.”
Teaching a spirit of giving at an early age can instill values of generosity and philanthropy that last a lifetime.
“What we see in America is that volunteering and giving are closely linked,” she says.
Each family that participates in the WCCF’s Kids Fund program gets a copy of a book, The Giving Family: Raising Our Children to Help Others by Susan Crites Price. Wenzel says the book is an excellent resource about raising a new generation of philanthropists.
The WCCF is an organization that builds and manages charitable endowment funds to benefit a variety of community organizations in the region. Funds under its management provide a significant number of scholarships, grants, and other financial support to various individuals and organizations each year.
Help the WCCF grow
If the idea of a Kids Club endowment doesn’t fit your financial needs, you can still help the WCCF by subscribing (or asking a friend or spouse) to subscribe to the free, monthly May-Investments electronic magazine (we call it an “eMag”) that you’re reading right now.
To subscribe, visit http://www.fund-scout.com/ and fill out the “Join Our Email List” box in the upper left corner of the page. You will receive a confirmation email in your inbox that you’ll need to respond to for the subscription to begin.
For every new eMag subscription we receive by next Monday, Nov. 15, May-Investments will contribute $25 to the WCCF. By subscribing now, you will not only help the WCCF raise money, but you will treat yourself to a useful helping of financial insight and news about community events and organizations each month.
Posts
