October 10, 2023 | Insights
Our team strives to make giving simple, easy and impactful. It starts with a vision to spark change in our community. Then our Director of Philanthropy, Meghan Doyle, works hand-in-hand with current and prospective donors to reach their charitable goals.
There are common concerns expressed by donors over the years, so we sat down with Meghan to shed some light on myths related to giving.
Myth no. 1 - I should wait to make my yearly gifts to nonprofits at the end of the year.
Busted: While many of us wait to make year-end gifts to nonprofits, consider changing that tradition. Nonprofits welcome gifts all year round. Many organizations have fiscal years ending in June, so gifts in the spring help keep budgets balanced.
Myth no. 2 - I can't give my Qualified Charitable Distribution (QCD) from my IRA to a community foundation.
Busted: While it's true federal law does not allow you to donate your QCD to your donor-advised fund, you can donate it to a community foundation, like the Wichita Foundation. For example, you can donate your IRA distribution to our Fund for Wichita or use it to create a designated fund or a field-of-interest fund in your name. Make a difference while minimizing your taxes.
Myth no. 3 – I need to be a millionaire to have a charitable legacy that makes a difference.
Busted: The magical thing about creating an endowed fund at the Wichita Foundation is the impact you are able to make over time. With our stewardship and investment, your fund can grow and give far more in the future than you ever put into it. This means that organizations will benefit through the years, no matter the size of your fund.
Myth no. 4 - I can only give locally from my donor-advised fund.
Busted: While our mission is to invest in people and ideas to spark change in Wichita, our donors enjoy giving to organizations around the country from their donor-advised funds. Many use their DAF to support hometown charities, nationally focused organizations, or their alma maters.