Together Let’s Help So What Else

So What Else needs your help! 2020 was an unbelievably difficult and challenging year for most of us. Beginning on March, 9 2020, So What Else (SWE) began a tremendous undertaking and started one of the most successful emergency hunger relief and support programs in the Greater Washington Area. Food was donated to us from partner organizations and local businesses without restriction and given to anyone in need, to the tune of 9 million meals from March 2020-March 2021.

Food is continuously being donated from every source imaginable. But, the warm summer months are fast approaching, and the SWE Team is in serious need of purchasing a refrigerated box truck to store perishable food arriving from multiple sources. The need for supplying food has only increased since the pandemic began. SWE is requesting a one time donation in order to purchase a refrigerated truck to store perishables such as produce, eggs, dairy, poultry and other products that need to be refrigerated during transportation in the upcoming summer months. 

Almost every week since the inception of this highly accessible program, the need for free food has increased. The So What Else team feels it is critical to have a refrigerated truck in order to continue to support children and families that are in dire need of food. We are hoping you will agree that this need is critical as is our desire to continue the food donation line to help serve those in need. Will you help SWE by supporting this special request?

Your generous donation means the world to Sherman Wealth and So What Else and will continue to support their mission to help serve our community. We thank you in advance for your donation and support to meet our community’s needs. So What Else has received rave reviews for their service to our community and hope you will see the total benefit to obtaining a refrigerated truck in order to continue to support everyone in need of food donations throughout our community.

Currently SWE serves 68 sites per week with a total of 110,000 meals a week directly to children and families. Again your help means the world, especially to the children who rely on SWE for most of their meals every week. For questions about the donation, email us at info@shermanwealth.com

The refrigerated box truck costs approximately $60,000. SWE currently has $12,500 committed from a generous donor. Will you help us raise the remaining $47,500?

Click here to donate to a great cause to help our community and a wonderful organization. https://www.gofundme.com/f/refrigerated-truck-fund?member=10610365&utm_medium=email&utm_source=customer&utm_campaign=p_email%2Binvitesupporters

Here’s Why To Consider A Donor Advised Fund

In our previous blog, we discussed tax implications of short term investments and some options of what to do with those short term gains. At Sherman Wealth, we are very charitably inclined, so we mentioned how setting up a donor advised fund could be a good option. Interestingly enough, we read an article stating that Fidelity Charitable and Schwab Charitable donors gave record amounts of money to support non-profits in 2020, inspired by a desire to help those suffering during the pandemic.

Fidelity Charitable said its donors made 2 million grants totaling $9.1 billion to 170,000 charities last year, a 24% increase in the amount of money donated and a 31% increase in the number of grants compared to 2019, according to a report released Wednesday. In a report in late January, Schwab Charitable said its donors gave 830,000 grants totaling $3.7 billion to nearly 100,000 charities — a 35% increase in the dollars donated and a 39% increase in the number of grants.

According to the company VPs, the pace and the amount of giving stood out compared to previous years.The pandemic changed giving targets, as donors supported organizations that provided food and other necessities for people who experienced economic setbacks due to the outbreak.

For those interested in charitable giving, you can contribute funds into a donor advised fund, which will allow a donor to make charitable contributions, receive a tax deduction and then distribute the money over time. It was so incredible to see such an outpouring of love and support to those in need during such a difficult time. If you are in a position to do so, we always encourage others to consider giving back to those in need or setting up a donor advised fund. If you have any questions about setting up a donor advised fund or charitable giving, please reach out to us at info@shermanwealth.com or schedule a complimentary 30-minute meeting.

Amid the Crises in 2020, DAFs Continued to Expand

Despite the coronavirus pandemic and its impact on the economy, 2020 was another banner year for donor-advised funds (DAFs). When the markets initially plunged, stay-at-home orders were issued and fundraisers were canceled, DAF donors stepped up to make large and critical grants in the spring and summer to support both their favorite charities and others that addressed critical needs.

When markets bounced back, donors continued to give, and year-end giving was again strong. In fact, many DAF sponsors actually increased grants to charities this year.

Many DAF donors also contributed additional amounts to their accounts so they would have substantial assets from which they could quickly make grants in the future. Others who had not previously created DAF accounts opened them with the help of their advisors.

Though there was another effort to create legislation to pressure DAF donors to grant more, DAF donors proved that they didn’t need to be forced to make grants because they had already responded generously to the need that existed. Nonprofit organizations expressed their appreciation for the numerous DAF contributions that enabled some to continue to operate. 

Charitable Planning

As an advisor, we play a large part in helping our clients plan their charitable giving. The events of the past year have affected clients to varying degrees. Some clients had never previously been charitable and wanted to begin, while others had always been very generous and wanted to go beyond what they had previously done. And of course, a small portion of clients had never given to charity and not even a pandemic would change that.

In the end, the charities and the people they help were the biggest beneficiaries of the generosity of DAF donors. Nearly everyone was impacted by the pandemic or knew someone who was, so these donors who maintained or increased their level of giving could take pride and comfort in knowing that they were able to make a difference. At Sherman Wealth, we always stress the importance of giving back to the community, especially when you are in a financial position to do so. If you are considering giving back or donating to your favorite charity, please reach out to us with any questions you may have on going about your charitable giving. We are happy to help in any way or discuss your options in a free 30-minute consultation on our site.