No one gives to charity solely to obtain a tax deduction, and personal reasons for giving usually outweigh the tax benefits. However, experience shows that donors do want to receive the tax benefits associated with their philanthropy and they structure their giving in a tax efficient manner. In this article, you will find a review of information helpful to donors planning their gifts now.

Wealthy families are as committed as ever to the nonprofit sector and community causes, with giving growing significantly in the past several years. Motivations and preferences in giving are changing too.

Bill Harney and Charlotte Parrish were both brought up with the “pay it forward” mentality, and for a while, the couple mostly gave to causes where they had personal ties. Then came the racial reckoning that began last summer, and Bill and Charlotte’s entire perspective shifted.

The Community Impact Fund is an unrestricted fund for fund holders that supports the Community Foundation's annual community grants program. Donor contributions are combined with income from the Foundation’s endowment, providing greater flexibility in addressing the pressing needs or promising opportunities facing the Richmond region each year.

"People have been challenged by the pandemic — they’ve been pushed to their limits in lots of ways and they’re re-evaluating what’s important to them,” said Vanessa Diamond, Senior VP of Civic Innovations. “What we’re seeing is that volunteerism, or being a part of the solution for Richmond, is a way for us to continue to heal."