Ren Philanthropic Insights: The Power of DAFs and Sustainable Investing

Welcome to the Ren Philanthropic Insights, a quarterly newsletter with the latest about wealth management, philanthropy, and a little about Ren.

In this edition:

• The power of DAFs and sustainable investing.
• How to support the Maui Wildfire relief efforts.
• Latest 2023 tax updates: Might the IRS become delightful?
• Ren receives strategic growth investment.
• Upcoming generations may not be obsessed with crypto.
• The brilliant 2023 DAF Giving Summit keynote speaker!

Have ideas to share or topics you want us to cover? Let us know.

Featured Article

Investing for good: The power of DAFs and sustainable investing

We partnered with the experts at Impax Asset Management Group to dive into how DAFs and sustainable investments work together to compound the impact of donors’ philanthropic dollars. Uncover the power behind using these two concepts together.

The DAF dilemma: Don’t let your clients skip dessert: Kevin McGrath, Sr. Director at Ren, shares how the growth of DAFs is impossible to ignore, and financial institutions that don’t at least facilitate DAF services for clients likely are losing some share of client relationships, even if they’re retaining their clients for general wealth management. Uncover how you can enhance your DAF program.

Maui Wildfire disaster relief

We would like to take a moment to acknowledge the devastation Maui’s residents are enduring right now due to the catastrophic wildfires last week.

If you’re looking for ways to support this community and relief efforts, we put together a list of vetted charities. DAFs are a powerful way to quickly get funds into the hands of these organizations so they can continue their relief efforts without ceasing. Learn how to support the Maui relief efforts.

Industry Updates

Tax updates: The IRS isn’t known for its delightful experiences, but with some recent updates, our resident tax expert, Joseph Gianforte, CPA, suspects there’s hope that taxpayers’ future interactions with the IRS may be less frustrating. See the latest changes implemented by the IRS

Legislative updates: Stay up to date with the latest on the Charitable Act. (Congress)

“This bill [The Charitable Act] allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-third of the standard deduction allowed to such taxpayers.” (Congress)

Related: Representatives Moore, Davis, Steel, and Pappas Introduce Legislation to Encourage Charitable Giving and Support Local Communities (Rep. Blake Moore, UT)

Ren announced a partnership with Bain Capital Tech Opportunities and Valeas Capital Partners. Together, we'll shape the future of philanthropy, making giving easier and creating a brighter world. Read more:

• Ren Secures Strategic Growth Investment Led by Bain Capital Tech Opportunities (Bain Capital)
• Fueling the giving revolution: Celebrating our partners in scaling philanthropy?(Joe Fisher, Ren President and CEO)
• Bain Capital Backs Donor-Advised Fund Manager Ren (The Wall Street Journal)

Industry News

• HNW individuals face unique opportunities and challenges when it comes to financial planning. By implementing a holistic approach to their wealth portfolio, they are empowered to make the most of their gift and leave a philanthropic legacy for generations to come. (Vents Magazine)
• While offering a more comprehensive approach to financial planning, wealth management firms can also offer giving tools, like donor-advised funds (DAFs), to improve relationships with their clients. (Global Banking & Finance Review | Written by Ren President & CEO, Joe Fisher)
• If you think upcoming generations are mainly interested in alternative assets like crypto, you might be surprised to find out they’re more interested in these other forms of complex assets. (The Bakersfield Californian)
• We love a feel-good story, so we had to share this one about the Hootie & the Blowfish Foundation using a DAF to award over $210,000 to address child welfare, food insecurity, and arts education. (The News – Kingstree)
• Here's exactly how DAFs have become a powerful tool for individuals, families, and organizations looking to engage in strategic and impactful charitable giving. (NonProfit PRO | Written by Ren President & CEO, Joe Fisher)

DAF Giving Summit

Witness the perfect fusion of brilliance and impact at the DAF Giving Summit. We are thrilled to share that Ken Jennings, record-breaking 75-game streak Jeopardy! winner, will be the DAF Giving Summit keynote speaker this year.

Don’t miss the event that’s bringing charitable giving into the modern era through the sharing of best practices, showcasing new technologies, and more. Register today!

Advisor Insights

Make sure your advisors sign up for our monthly Advisor Philanthropic Insights newsletter, so they don’t miss out on the latest and greatest information about the industry. Each month, we share expert tips, information, and resources that give advisors the confidence to provide their clients the best charitable giving guidance.

Have your advisors opt-in here

Latest advisor resources:

Smart strategies for estate charitable giving: Simply using a will to direct a portion of an estate to charity might be a straightforward way to make a gift, but it may not deliver most effectively on your clients’ gift-giving goals. Plus, your clients might be missing out on other opportunities. Don’t miss these expert tips to optimize clients’ giving through CRTs and DAFs. ?

How to use retirement assets with a DAF: Maggie Sangalang, one of our charitable giving experts, reveals how you can help your clients utilize valuable retirement assets to help achieve their charitable giving goals.?Watch our latest webinar on-demand now

Your charitable giving needs are our specialty

Your program’s success is our priority, and now that we’ve expanded our offerings and expertise, we have even more opportunities to help your firm expand and offer exceptional client experiences through philanthropy. Charitable giving is what we do - all day, every day. Set up a time with one of our specialists to discover all the additional tools and platforms now available to you.

Meet the charitable needs of all clients: Meet the unique needs and goals of clients of all giving capacities with Ren’s full suite of charitable giving vehicles and services.

You can reach out to us with any of your charitable giving questions – as a matter of fact, we hope you do! We love to talk about all things philanthropy with you and your advisors.