It’s not just about money: The Five T’s of Philanthropy

by Sara Judson

Originally published in The American Press on Tuesday, December 10, 2024.

In this season of giving, I’ve been reflecting on just what giving means and the many forms it can take. Giving to others and sharing what you have are the foundations of faith traditions, civic clubs and individuals with big hearts. I often share with people that our Community Foundation helps people be strategic in their giving … both during and after their lifetime. This usually involves financial contributions that support causes important to them. However, giving comes in many forms. Recently I was certified in “21/64” which is a program that focuses on generational philanthropy. It includes various strategies to help people and families align their beliefs with their giving whether they are early in their giving at age 21 or more mature in their philanthropy at 64 or more. One of these strategies is the five T’s of time, talent, treasure, ties and testimony.

Matthew 6:21 says for where your treasure is your heart will be also. When you consider where someone gives their treasure, or volunteers their time and talent, or connects others with a cause, their heart is there, too! As we approach the end of the year and share in this season of giving, I encourage you to take a little time, and consider the five T’s to see where your heart is … and maybe where you’d like your giving to be in the coming year.

A helpful exercise is to write down where or to whom you are: (1) spending your time, (2) applying your talents, (3) giving your treasure, (4) offering your connections, and (5) giving your testimonials. As you go through this exercise, consider the following.

Time

Dedicated volunteers who share time and energy for a cause are a valuable resource. Whether you are working in a food pantry, gathering coats for kids, or mowing the yard for an elderly neighbor you are a valuable resource. If you are deeply committed and want to dedicate more of your time to a nonprofit organization, consider serving on the board or volunteering in a more specific capacity.

Talent

In some cases, lending your skills, talents, or expertise can be even more valuable than a cash contribution. If your time is limited, you can offer your assistance where your skills will be most helpful.

Treasure

While money isn’t the only resource of value, it is an undeniably important asset for an organization to advance its mission.

If financial contributions are a focus of your giving, a charitable fund with the Community Foundation may help you be more strategic in your giving both in your lifetime and forever. There are a variety of funds to meet your specific charitable goals.

Another reminder about treasure, is for those who have an IRA and the ability to make Qualified Charitable Distributions from it. Giving donations to the nonprofit/s of your choice directly from your IRA to the nonprofit/s relieves you of being taxed on those dollars and then the nonprofit receives the full amount of your donation.

The Community Foundation values receiving contributions of QCDs which supports the overall work of the Foundation or specific causes you support under the Foundation umbrella.

TIES

Think about your own networks of friends, family, business, clubs, etc. When you have a cause that is important to you, introducing some of your networks to the nonprofit can create new relationships that yield positive results. Even engaging with that nonprofit’s social media posts can lend credibility to the organization.

testimony

Having shared experiences can be a powerful motivator in philanthropy. If you have a story to tell of your experience with a nonprofit, whether as a recipient or a volunteer, sharing that in conversation, social media or in a group setting, also lends credibility to the organization.

As you reflect on the year of 2024 and your experiences with giving, I encourage you to consider the five T’s and see where your heart was in the past year.

You can then make your roadmap for 2025 to enhance your giving in those areas most important to you. You just may make an even bigger impact by realizing where your time, talent, treasure, ties and testimony can be the most valuable for a cause or causes most important to you. If you’d like to know more about tools to make a bigger impact in sharing your T’s both now and forever, I’m here to help. Give us a call if we can guide you on this journey!