Nancy: My name is Nancy I'm a client of Schwab Charitable and we have a donor-advised fund there that has helped our family significantly support Catchlight which is an organization that I founded.
Tom: I'm Tom Myers, I'm the CEO and senior wealth advisor at Bordeaux Wealth Advisors.
Nancy: I met Tom originally actually was referred to their firm by my sister Robin who had worked with the firm for a few years before we came on board.
Tom: In the normal course of our conversations, we're talking about their charitable giving desires and how to do that in a tax smart and value maximizing way. A Schwab Charitable donor-advised fund was the obvious and natural thing and when I explained the benefits of having a donor-advised fund it was a very easy decision and very simple to implement. The beauty of a Schwab Charitable donor-advised fund is the money can be contributed, you can achieve a good tax result, but the funds can be invested so they could potentially grow and granted and gifted to charities overtime as desired by the donor.
Nancy: I have five children and they all have donor-advised funds.
Tom: We've worked together for about 20 years now and so I've literally seen her children grow up. What's really interesting is using donor-advised funds and philanthropy as a way of imparting and transferring values to the next generation.
Nancy: One of the benefits is that there really is no minimum so it's easy to bring the children in at a level that makes sense for them. I mean our children actually we started with something we called Alice's fund named after my mom and had our children set up to give away a relatively small amount of money every year and sort of begin to organize around the idea of what is it you care a lot about. Schwab Charitable’s donor-advised fund has been an area for our children to practice and train and how to think about philanthropy how to send money out into the world in areas that they care about, and we have one grandbaby she's three years old she's too little to be doing this yet but I assume that they will be doing the same thing with their children.
Tom: Her kids have really taken to this and it's really neat to see the values transferred from one generation to the next.