Charitable Giving by Income/NW

[Anonymous]

We're making some year-end gifting decisions and wondered how much DCUM readers typically give.

Please share your income/net worth/annual giving amount. I'll start:

$300K/$1.5MM/$2K

[Anonymous]

How very Scrooge like.

I make 75K, worth maybe 750K and will give more than twice what you do.

More coal for Ebenezer, please.

[Anonymous]

Last year we were 500k/600k/8k. (Before people jump at us, we’re in our 20s and paying off law school debt..)

[Anonymous]

I make about $180K, single. Net worth about $850K. And I give $0 to charity. Taxes are my forced charity.

[Anonymous]

Anonymous wrote:We're making some year-end gifting decisions and wondered how much DCUM readers typically give.

Please share your income/net worth/annual giving amount. I'll start:

$300K/$1.5MM/$2K

$300K/$2MM/$15K We should do more like 10 percent but have been stuck at 5 percent for a while

To PP: Taxes aren't charity, taxes are the price of living in a civil society. Just don't tell yourself you are being "charitable" by paying a share of the cost of living in the United States. Charity is defined as voluntarily giving to those in need and you are definitely choosing to pay taxes--you can go live in a third world country if you don't want to pay them.

[Anonymous]

$350k/~$2M/$10-12k

But we have just started trying to game the standard deduction, so we put it aside and give $20-25k every other year, instead of monthly giving or keeping it the same every year.

[Anonymous]

Anonymous wrote:How very Scrooge like.

I make 75K, worth maybe 750K and will give more than twice what you do.

More coal for Ebenezer, please.

so you haven't given yet? talk is cheap pp...

[Anonymous]

Hhi about $290k, net worth about a million. We try to give 10% of gross income but may not hit it this year as we are trying to keep money liquid for ongoing home renovations. I think we will still be over $20k donated though. We just experienced a death in the family and will be getting an inheritance next year, so we will give more money then...10% of whatever we get.

[Anonymous]

NW and income: MYOB

Giving: half a percentage of after tax income.

I need the rest to save enough to retire by 70 and pay regular living expenses. When I see nonprofit employees living as lean as I do, then I will consider giving more.

[Anonymous]

What you need is an estate event that creates a family foundation, because then you get a lot of money to give away but it’s sort of free.

[Anonymous]

350k/4.5mil/$0

[Anonymous]

Anonymous wrote:What you need is an estate event that creates a family foundation, because then you get a lot of money to give away but it’s sort of free.

You can also make a foundation or charitable remainder trust or donor advised fund with your own money.

[Anonymous]

Anonymous wrote:$350k/~$2M/$10-12k

But we have just started trying to game the standard deduction, so we put it aside and give $20-25k every other year, instead of monthly giving or keeping it the same every year.

ooh good idea

[Anonymous]

$400k/$4 m (including house and retirement)/$50-$100k

I understand that people honestly wonder if their giving would be wasted. That's why I give to charities evaluated by Givewell, or to very local places I know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What you need is an estate event that creates a family foundation, because then you get a lot of money to give away but it’s sort of free.

You can also make a foundation or charitable remainder trust or donor advised fund with your own money.

The fees on these things are outrageous. It’s like donating to a brokerage firm.