How to Donate Effectively and Avoid Telemarketers – Interview with John Bromley, Founder & CEO of Charitable Impact

Last year, I did a video on How to Donate Effectively, where we explored the idea that one of the ultimate status symbols is creating your own charitable foundation—and how to make a real impact with your giving.

In my latest video I interview John Bromley, the Founder and CEO of Charitable Impact, the platform we personally use to make giving easier and more effective. 

John has dedicated his career to helping Canadians maximize their impact through strategic giving. 

His company has proudly facilitated over $1.5 billion in donations, empowering tens of thousands of people to tap into their generosity, pursue their vision for change, and develop meaningful giving habits.

Beyond his work in philanthropy, John is a two-time TEDx speaker, a recipient of Business in Vancouver’s 40 Under 40 award, a soccer coach, and a doting father of two.

In my YouTube video, podcast episode and blog post you’ll discover:

• Why Charitable Impact was created.
• How Charitable Impact works for donors.
• Why open a personal charitable foundation?
• Donor-advised funds vs. private foundations.
• Should you involve your family in charitable giving?
• What happens to your foundation after you pass away?
• Does Charitable Impact help you find the right charity?
• Why donate?
• What is a proactive donor?
• Should you have a donation plan?
• Can others contribute to your foundation?
• The future of charitable giving.
• Biggest challenges & focus areas for charitable giving.
• What larger donors need to know.
• How to choose the right cause for your values.

SUMMARY OF INTERVIEW

How is a donor-advised fund different from a private foundation?

Charitable Impact is a donor-advised fund, which is much easier.

Is it best to involve your family in your foundation?

• Succession, involvement.
• Kids can have one. Teaching kids financial literacy & importance of giving.

Does Charitable Impact help donors find the best charity for their values?

• Yes. Charitable Impact has details like lists by cause & overhead costs. One of the advantages of Charitable Impact.

Why donate?

• Donating effectively is how you can make a difference in the world.
• Leave a legacy with extra money.

What is a “proactive donor”?

• Someone who builds giving into their life. Donates w/o being asked. Not someone with 5-10 small donations slips on their tax return.

Can other people contribute to your foundation?

• Yes. Charitable Impact has a “giving group” tool for this. It has its own URL to link to.
• People can give their time to promote this, instead of money.

What do you think is the future of Charitable Giving?

• Giving can become a bigger part of daily life. Everyone could have a donor-advised fund. Integration of giving into our life. Charitable Impact makes it easy.
• Donor-advised funds are free but get no interest – but can be invested with a portfolio manager. Charitable investment account gets a return, but has a fee.

What are you focused on now, John? What is your biggest challenge now?

• Making people charitable. Importance is which charities make the most difference in the world, not which has the lowest overhead.

What do larger donators not know that they should know?

• How to make it tax efficient.
• You can donate securities, or real estate, or crypto, or any investment and avoid the capital gains tax.
• You can use flow-through shares to donate 10 times more. See my video.

How can you choose the cause that fits your values:

• Many people have causes based on personal experience, such as a disease that affected someone close to them or a charity that helped someone they know.
• I read a book called “Best Things First” by Bjorn Lomborg – the only study I have seen on which causes make the biggest benefit for human flourishing – some as high as 50:1. The most effective are in poor countries. I plan to have this available as a giving group for anyone to donate to on my blog soon.

Ed