GIVE – Philanthropy
Philanthropy is just as powerful a lever as investments or insurance in managing your wealth across generations. The reasons for it are as spiritual as they are personal—no matter why it draws you, the outcome is a financial outlook and control panel that’s more attuned and impactful.
Legacy is something you leave in someone, not to someone." – John Maxwell
Give — Legacy through Philanthropy
Entrepreneurs, executives, and high performers are already stewards and mentors of LIFE: leadership, influence, finances, and expertise. But to make life count, what comes next? How can you amplify your present and future, even beyond your time? Is there a path to operating on a higher plane?
If you’ve arrived at questions like these, you’re ready. Eastport’s philanthropic coaching applies strategy plus brilliant execution—the mathematics of which boost your bottom line as well as your impact. Here’s how.
BEGIN WITH A CLEAR PURPOSE
Take your giving as seriously as you took your growth. Remember the first vision and business plan that helped create your empire, and now imagine creating an empire of impact. First, what are you passionate about? When you start with what’s most meaningful to you—something that ignites your heart, perhaps springing from your personal story—you get more by being the giver than the recipient. This is no one-way transaction.
GET BEYOND STUNT OR CHECKLIST-GIVING
Some people or organizations simply give money to fundraisers, often with extremely high administrative costs and little effect. It’s checking a checkbox. But this saps our faith, making many who’d wanted to pay it forward—and maybe even show up for others—cynical and weary. ‘Corporate social responsibility’ is most often high-gloss, low-impact ad campaigns. We’ll help you focus on more than optics to make more genuinely happy endings possible.
SET GOALS WITH BUILT-IN ACCOUNTABILITY
Once your purpose and intention is clear, we design your impact for optimal transparency, financial organization, and access to resources. We watch for burn rate relative to give rate. We chart the most direct logistics to meeting needs with the least possible amount of organizational churn or waste. We ensure the resources you’ve entrusted to boards and committees are put to work. We’ll make you the best kind of donor: more than handshaked, but deeply engaged.
KEEP YOU AND YOUR FAMILY ON-MISSION
The past, present, and future story of your family is central to the story of your success. With purpose-led guidance, it’s not difficult to map out a plan to protecting and extending your wealth. The plan for giving and sharing your wealth begins the same way: by considering not only what you want to do, but who you want to be. Once you have your investments, retirement, succession, and your businesses taken care of, cast the same lens on your family’s lasting impact.
Give For Lower Taxes
Most people simply plan to pay taxes as a part of their plan. They don’t realize they can give to a place that matters to them instead of to the government—with greater impact, and the same outcome for their family and businesses.
Imagine if you planned to leave a million dollars in RRSPs for your kids, and some cash to a charity in your will—all of which is taxable and subject to probate for both your kids and the charity. Instead, you could give the RRSPs to the charity. You’ll get a tax break equal to the RRSPs, and the charity will receive the whole million. For your kids, you can leave an insurance policy equal to a million dollars, not subject to tax or probate. The net result? We’ve just tripled the residual, shifting the default from paying tax to having a charitable impact. You’ve self-directed your own legacy at no cost to you, and with a bigger benefit to your kids and the charity.
Giving us yet another lever for wealth legacy. After all, you’ve got three entities who can take and use your assets after you’re gone: your children, a charity of your choice, or the government, and you must choose two. Don’t let the government presume it’s theirs. Choose your impact for what matters most to you.
Give For A Legacy Of Impact
The way you lived can still influence anyone in your periphery. Even beyond ego—beyond death, long after you’re gone. To want to have a positive impact not only for yourself and your people, but on your community and world. That’s financial growth and emotional growth in parallel.
When you’re successful, it’s not that hard to die with money. But it takes a distinguishing effort to make sure your values multiply in the world. If you haven’t thought of it, you’re in the default position. Within two generations few people will remember our name, and within three we’re gone from the public record. This is the strike of a deeper, more spirited wellspring: from success to significance.
Philanthropy is a cornerstone of Eastport’s heart, and Eastport’s strategy—for us, and for you.
“I’d like to have enough money to share it, but right now most of it is tied up in my business. What’s the case for setting some aside?”
“I have money to share, but the thought of letting go of it stresses me out.”
“A charitable friend tells me giving is part of his financial playbook. Why?”
