RISCARIO INSIDER: philanthropy

Showing posts with label philanthropy. Show all posts

June 1, 2014

REFLECTIONS ON THE GLOBAL CHANGE INITIATIVE (@CSLCsummit)

The first-ever Global Change Initiative (@CSLCsummit) took place from Friday evening until Sunday evening at Toronto City Hall (May 30-Jun 1, 2014). The location makes a big difference. We were in the Council Chambers. The acoustics are terrific — even for music. The tireless organizer is Dev Ramsumair I spoke about Right is Might: Social Justice and Corporate Profits. I’ll let you know when the recording gets released.

I’ve never been to an event like this. I’m picky about exchanging business cards and this was the first time I ran out.

Extreme Variety

You can see speakers on different topics at TEDx events and elsewhere. The Global Change Initiative did too, plus extras like

the Livegreen Toronto awards gala
a fashion show featuring real women from the Toronto chapter of networking group 85 Broads
performances by the cast of RENT, rockers The Loft (can’t find their website) and reggae group The Steady Rebels
a panel discussion in which speakers were asked questions by the Avenue Q puppets

A Standout Presentation

One presentation which wasn’t recorded won’t leave my head. Kelly Drennan of Fashion Takes Action talked about sustainability. Did you know that

unsold clothing often ends up in landfill rather than getting donated
you’ll spot the new ‘in’ colours by looking at the dyed waterways near the factories
2/3 of the environmental harm from fashion occurs once we have bought the clothing

Carol Roberts (speaker) and Dev Ramsumair (organizer)

Sometimes you don’t recognize the calibre of the people you already know. I was delighted by the interactive presentation by Carol Roberts of Stellar By Choice (@CarolLeads) who helped close the conference. She’s been a peer mentor for years but I never saw her speak before.

Extended Length

Many events last one day and leave you numb. There’s something magical about meeting new acquaintances for 2-3 days in a row. You get time to build a relationship and follow up on conversations. Podcamp Toronto runs two days but all eight TEDx events I’ve attended end in a day (unless you go to the after-party).

The Global Change Initiative took place over a weekend. That reduced time away from work and made the conference feel more relaxing.

Live streaming

I’m not a big fan of live video streaming. Unless you’re attending in person, you won’t get the same experience but you’re still committing time. I’d rather watch the videos afterwards when I can pause, fast forward and skip selections.

The Global Change Initiative was recorded using the many cameras built into the Council Chambers. The recordings are to be released during the year with promotion by reddit. That’s different, easier to consume and builds interest in next year’s event.

You Are Not Alone

In the 4-Hour Workweek, Timothy Ferriss reminds us that there are many causes and there’s no value in a my-cause-is-better-than-your-cause argument. Luckily, different causes attract different people. I talked to supporters of initiatives like patient advocacy (@Piroska_Bata), educating children in Vietnam (HelpKidsToSchool.org) and seals of approval for health care products (@CleanCareSeal). As you likely know, my cause is financial education through Money 50/50, this blog and Taxevity.

I was surprised at the similarity in the challenges and techniques advocates can use. In hindsight, this is now “obvious”. Whatever you do, you’re bound to find help in unexpected places.

Overall, The Global Change Initiative created a wonderful feeling that continues to linger.

Links

PS A highlight for some was sitting in Rob Ford’s chair.

PPS Here's my slide deck

Right Is Might: Social Justice and Corporate Profits from Promod Sharma

August 31, 2013

AT AGE 7, BOOMER ESIASON LEARNED NO ONE IS GUARANTEED A TOMORROW

“I was handed a tough life lesson at a very early age.” — Boomer Esiason

These quotations from MVP Quarterback and Sportscaster, Boomer Esiason come from various sources and re-arranged here for coherence.

“It’s easy to think that because I could throw a football, my life unfolded easily and without challenges but the road to becoming an MVP quarterback wasn’t all that easy.”

“My mom died of cancer when I was just seven years old and our family’s life changed in an instant. We lost the person who made our house a home and then all the responsibilities for supporting us financially and taking care of me and my sisters fell right there on my dad’s shoulders. I know that things would have been a lot different if my mom had life insurance.”

“If there had been life insurance, we could have hired the help my father needed to keep the household running as my mother had.”

“We lived paycheck to paycheck, but my dad was completely unselfish and did an incredible job taking care of our family. He taught me the true meaning of what it means to be a responsible dad.”

“A father’s first responsibility is to provide for and protect his family. That’s why I made getting life insurance a priority when I got drafted into the pros.”

“Just imagine if something happened to you and you hadn’t done the planning. The people you leave behind will feel the brunt of your mistakes.”

LIAM 2013

September is Life Insurance Awareness Month. This year’s spokesperson is Boomer Esiason. He doesn’t bring the same poignancy as ‘Cake Boss” Buddy Valastro or the drama of basketball forward Lamar Odom who arrested for suspicion of DUI yesterday (USA Today). Boomer wasn’t in the Iron Man movies like Leslie Bibb.

Yet we once again see the lack of money made life much tougher than necessary. Same message. New messenger.

Money Lessons

Athletes earn lots but often spend lots (see 21 ways professional athletes go broke, Business Insider, Mar 2013). By his second year in the NFL, Boomer was in debt.

“You gotta have a Rolex, gotta have a car. You want to have a nice TV, nice clothes. Your girlfriend needs jewelry.”

''When you make $10 million, you don't make $10 million; you make $5 million, and part of that is going to agent fees. Ask most young athletes what their tax bill is, and I bet they don't know.”

Boomer managed to straighten out his financial life early, which is a great accomplishment. You’ll find more details in The New York Times (Apr 1998).

Special Needs

“Life insurance is about protecting the future and the people you love. That’s especially the case when you’re caring for someone with special needs.”

Boomer has a cause: fighting cystic fibrosis. His son Gunnar was diagnosed with that disease at age two in 1993. The Boomer Esiason Foundation has raised over $100 million and has a four star rating from Charity Navigator.

Got Enough?

“Boomer’s story shows that if you have people who depend on you, whether or not you’re the primary breadwinner, you need life insurance. Unfortunately, while most people agree that it is important, we are experiencing the lowest level of life insurance ownership in 50 years, and even those who have coverage have far less than experts recommend.” — Marvin Feldman, President and CEO of the LIFE Foundation

Insurance needs change. Boomer says, “As my career has grown, I’ve made sure my life insurance has grown along with it.”

In David and Goliath, Malcolm Gladwell reminds us that poverty steals futures (see Seth Godin’s review). Since life is unpredictable, doesn’t reviewing your life insurance make sense?

Podcast 235

direct download | Internet Archive page | iTunes

PS Action beats awareness

June 2, 2012

THE PASSION OF GUILLERMO DEL TORO, NEIL HETHERINGTON AND YOUR ADVISOR

There's a joy in meeting people who have a calling. They exude passion which spreads and inspires. In recent weeks, I’ve seen two excellent examples: Guillermo del Toro and Neil Hetherington.

Guillermo

Guillermo Del Toro conducted four Hitchcock Master Classes at TIFF. He spoke before and after each film. Guillermo has directed films like Pan's Labyrinth, The Devil's Backbone and Hellboy. He was to direct the long-awaited prequel to The Lord Of The Rings but left after two years (see How the Wall Street crisis hit The Hobbit, LA Times). He’s been in Toronto filming Pacific Rim (2013).

Guillermo taught a film class for five years and loves teaching. He said he said he'd be happy to teach every day of his life. This is easy to believe. His passion showed as he shared insights about Hitchcock. He's even written a book in Spanish about Hitchcock and may be updating it (English this time?).

Here's part of the Master Class on Shadow Of A Doubt (TIFF link).

This format isn’t the best for showing passion.

Neil

Neil Hetherington has been the CEO of Habitat For Humanity Toronto (website) since age 26 --- and he’s hardly old now. He spoke at the final event in the Alumni Western lecture series.

Habitat For Humanity helps low income families build and buy affordable homes with help from volunteers. Neil described what he does as his calling. That's easy to believe. He probably wields a hammer in his limited "spare" time.

I saw Neil at TEDxToronto in 2010, the only year I could get a ticket. Here's the teaser video.

Here is the full talk.

Questions

Passion shows when speakers answer questions. Not just a few and "I'm outta here" but many and with thoughtful responses.

Guillermo was gracious even when answering ignorant questions. He'd probe to find a real question to help the asker escape with grace. He took responsibility for not understanding rather than chiding the questioner. It's easy to imagine someone with an ego giving a curt, dismissive or flippant answer.

Neil also answered many questions and stayed behind for more. There was no sense of feeling rushed or that we were wasting his time. The number and quality of questions is a measure of how engaging the speaker was. Neil excelled.

There was no pressure to buy anything or a today-only, one-time-only special offer or plea. You can thank Guillermo by buying tickets to his movies (which is hardly punishment). You can thank Neil by donating time or money to Habitat For Humanity wherever you live in the world.

Fake Passion

In the world of sales, you may sense more passion in the selling than serving clients.

Multilevel Marketers

I’ve seen too many multilevel marketers this year (hence this post on the perils | podcast 160). They are enthusiastic ... but how passionate can they really get about the stuff they sell? Can pushing cheaper phone service or better detergent really be a calling?

The passion seems to be about making money for themselves. Isn't that closer to greed? It's interesting to watch them try to hook new recruits using money as the primary lure and measure of success. There really is more to life than what you own.

Billionaires

Some people with billions (or maybe just millions) want to share their secrets with you ... for a price. Take Donald Trump for example (see Too Good To Be True). How much must they have before they're willing to share for free? That's the way to make a real difference.

Financial

The financial world has zealots too. You're more likely to find them in the world of living benefits (income replacement insurance or critical illness insurance). They often have had personal experience with disability or a dread disease like cancer. You know the ending: insurance provided the money which made the difference. Otherwise the afflicted might have needed a home from Habitat For Humanity.

Now the speakers are evangelists spreading the word. That sounds great but there's a common flaw: a close-to-invisible digital tapestry. Where are their YouTube videos? Where are their ongoing blog posts or tweets? If the real goal is to educate, that's easy to do freely or for free.

There may be a conflict of interest if they sell the solutions they promote or get paid by a vendor. There's nothing wrong with earning money but the source of revenue influences what’s said and --- more important --- what’s omitted.

For life insurance, we have the tales of Leslie Bibb and Lamar Odom. We also know how Steve Jobs "buttoned up" in his final years.

Your Passions

The real passion of the twentieth century is servitude.
--- Albert Camus

Let’s hope that’s not true. What are you passionate about? What do you do about your passions?

Podcast 171

direct download | Internet Archive page | iTunes

PS Do you surround yourself with passionate people?

August 13, 2011

DAD'S 75TH BIRTHDAY

There’s a belief that life is divided into quarters, each lasting 25 years. Our role changes in each segment. Here are the quarters
1. for your studies
2. for your family
3. to help society
4. for yourself (e.g. meditation)

It's my Dad's 75th birthday. I still have trouble believing that. Change occurs gradually. Dad doesn’t seem old. Maybe that's because he's committed his life to helping others. He was the head of the math and physics department at Regina Mundi College, a private boy's high school in London Ontario. He also taught at Catholic Central high school, also in London. He touched many lives.

Students liked him. We'd be out somewhere and former students would come up to him and say Hi. They especially remembered his jokes.

Warren Buffett looks at expenditures in an unusual way. When his wife Susie wanted to do $50,000 of home renovations, he agreed. Yet he saw the expenditure as $1,000,000, because he understood compound interest and future values. Dad is similar. He sees spending a dollar on himself as depriving others of 40-50 rupees. You'd spend $10 differently than $500 with this mindset, or the one Warren has.

Philanthropy

Dad took early retirement to help poor people in India. My mother shares this passion. They have various projects there. Unfortunately, they don't take photos to show us. Already this year, they've:

given a hand water pump for clean drinking water in a remote village
built a library
built a clock tower
donated musical instruments
created a music scholarship

I’m sure they’ve done other things. I lose track. Their biggest initiative is a school to teach

living skills to the handicapped
beautician skills to help young women become financially self-sufficient

When we visited India, I saw what they'd done with my own eyes. They were changing lives.

Legacy

My parents are leaving a wonderful legacy by helping others. Warren wanted to defer his gifts until his death. My parents want to help now. Warren has since taken this approach too, donating through the Bill and Melinda Gates Foundation.

Lessons

Ever since I was a child, my parents said we're here to make the world better. I saw them helping many people throughout my life. I wasn't sure what to do. Until recent years, I wasn't comfortable dealing with people. It's been a struggle to overcome my self-limiting beliefs. I still prefer to help from a distance as blogging allows.

In grade 8, I saw a friend’s family devastated because the father died without life insurance. He didn't trust the salespeople or insurers. That stayed in my mind. In first year university, I decided to devote my life to insurance. I became an actuary to design flexible and accountable products. Later I helped advisors sell insurance. That's when I saw you're poorly served because a salesperson is not a fiduciary who's required to put your interests first. There's very little information to help you make informed decisions.

I'm not a fan of rules and regulations. In a buyer beware world, your best weapon is information. Thanks to social media, we can reach the world instantly and without any censorship. In that spirit, I started this insider blog in 2007. I was also working on overcoming my fear of dealing with the public.

In 2009, I bypassed the salespeople to serve you directly. Like my parents, my life work is helping make the world better by giving whatever we have.

The Special Day

Guess how dad's celebrating his 75th birthday?

This weekend, my parents are volunteering to help run a one day retreat. Yesterday from 5 PM to 9 PM they helped set things up. Today, they'll work from 6 AM to 9 PM. The event itself runs from 7 AM to 6 PM. That's arduous regardless of age. This year, we're here to to help them. I hope we can keep up.

Podcast 130 (5:30)

direct download | Internet Archive page | iTunes

PS Happy Birthday Dad!

June 18, 2011

YOUR DIGITAL TAPESTRY IS YOUR LEGACY

Everything you do online adds to your permanent digital tapestry which grows pixel by pixel, letter by letter, frame by frame and note by note. You aren't Leonardo Da Vinci but you too can leave a Mona Lisa.

Isn't being visible online risky? Others can see you. Your mistakes are permanent. Maybe we're not important enough to leave a legacy. Let's not quit that readily.

Mistakes

I am an old man and I have known a great many troubles, but most of them never happened. — Mark Twain

You will mess up. Everyone does. The consequences vary. You may think everyone is looking but they're busy with their own lives. Or the latest celebrity scandal.

Doing more things establishes what's "normal" for you. As your tapestry grows in size and detail (resolution), the small blemishes and mistakes vanish. The big deviations lose their significance. You become predictable --- not in the sense of boring but as reliable and consistent.

Hiding

Like Waldo in the Where's Waldo books, your "unforgivable" mistake is somewhere. Someone could find it but few will take the time to search. Even if found, this "Waldo" may not be of much relevance — especially as time passes.

The searchers will also have a deeper appreciation of you from their exploration. Human frailties bring us closer together. We don't want perfection even in our superheroes. After all, Iron Man didn't save Leslie Bibb and the painting of Mona Lisa isn't perfect.

The Bigger Challenge

Your bigger challenge is escaping from the cage of mediocrity and fading without a trace.

You don't want to be one of the interchangeable drab minions in Apple's '1984' commercial. Instead, smash conformity with your personality. That's your free hammer.

Why Bother?

Your digital tapestry is your legacy, the past you build everyday. Your tapestry is part of the impression you make on others. This might even be the first impression.

Hiding

Staying offline is hardly a solution. Others can discuss you without your knowledge or permission. You might not even know. This is like a sign stuck to your back with the words "KICK ME" written there. You may be oblivious but you're not invisible.

You are leaving a digital tapestry even if you'd rather not. This is empowering if you choose to be the artist.
When you're gone, your digital tapestry could remembered more than your financial legacy.

Podcast 122 (3:44)

direct download | Internet Archive page | iTunes

PS When you're the artist, you'll get a kick --- instead of getting kicked.

January 8, 2011

TWO WAYS TO SHOW GRATITUDE

It's the damage that we do
And never know.
It's the words that we don't say
That scare me so.
— Elvis Costello, Accidents Will Happen

This post is about the good we do and never know. And the words we could say to make it show.

Here are two simple ways to show gratitude.

Say thanks
Help others

Even a lollipop can mean lots. Drew Dudley explains in a short captivating talk at TEDxToronto.

Lollipop Moments

Leading With Lollipops–Drew Dudley | TEDxToronto

Say Thanks

You didn't have to make it like you did
but you did but you did
and I thank you.
— ZZ Top, I Thank You

The people who help you rarely know their impact. How could they? If your inspiration came from a book or recording, you may never have met them. Yet you can easily thank them privately by email or — better still — online where others can see and share their sentiments.

If you're trying to contact a famous celebrity like Warren Buffett, Richard Branson or Peter Gabriel, you may have trouble reaching them. Instead, share their messages and support their causes. Search this blog and you'll see I've mentioned those three numerous times.

Warning

Don't gush. Be sincere. Where possible, make suggestions that may help your mentors.

Don't immediately ask for more help either. Your request may be small but you don't know how many others are in the queue. I get requests from people who feel entitled to my time. That's not how you get help from a stranger.

Remember that attention spans are short and you may be contacting someone who's busier than you are. If your message is lengthy, put a summary at the top.

Help Others

Tony Robbins says that when he's in restaurants these days, someone will offer to pay for his meal. He wonders where those people were when he was hungry and broke. Why not help people when they need you?

Generosity is a more powerful form of gratitude. You can and probably do help others in many ways. Feedback is an excellent gift and here's how to give it.

Don't expect thanks. When it comes to that, intentions dwarf actions. Yet giving makes you a better person. That's the real prize.

Why This Post?

Two reasons from this week. I was awarded the Golden Crab Award by Paul Nazareth. That's an example of Saying Thanks. Seth Godin wrote about the marks we leave behind . This post is an example of Helping Others.

Podcast Episode 99 (3:24)

direct download | Internet Archive page

PS Transform Thanksgiving from a holiday to a routine part of your life.

October 2, 2010

HIGHLIGHTS FROM TEDxTORONTO 2010

TEDx started in Toronto last year. Only 100 could attend and my application got rejected. I left work early and watched some of the live streaming. The speakers were thought-provoking and diverse.

This year, I applied again and got accepted! On September 30, TEDxToronto took place at the intimate Glenn Gould Studio, which seats 341.

Here's the video that started the day.
Thanks to generous sponsors (called "partners"), the entire event was free, including refreshments and lunch. This is a wonderful way for a brand to show it cares. Many sponsors were local, which was fitting.

Highlights

So much happened during the day. Here's are snippets to give you a taste.

Poet Boonaa Mohammed kick-started the day with meaning, emotion and humour.

Bruce Boon Tip said that in 2009, there were 0.9 billion tourists with 1.6 billion expected in 2020. What will happen to the environment? Developing countries receive about 5% of the money spent. How can they benefit more? When you're on vacation, you want to have a good time without thinking about the environment and local residents. Yet there are externalities, as there were from this year's Canadian Open at St. George's Golf Club.

Graham Hill made a compelling argument for a contentious position in four minutes. Regardless of your view, watch this video to see how he makes his points. You may spot ways to make your own arguments more convincing (regardless of topic)

Drew Dudley, my favourite presenter, told how his gift of a free lollipop changed two lives forever. He didn't know this until four years later. The message? Thank people who made a difference in your life. They rarely know. If you don't already do this, please start. I did years ago. Maybe you were helped by people you’ve never met. Why not tell them too? You can reach almost anyone these days. For example, Seth Godin's writing helped refocus my life but how would he know? So I wrote a blog post and he commented. Now we're even!

Broadway Sleep performed four songs. They also uttered the "how's everyone doing?" cliché but they're forgiven. They gave us a copy of their CD.

Dr. Catherine Zahn shared a lesson she learned in childhood. Some people reap a sad harvest. We who are more fortunate owe them and must pay them back. There's such little difference between us and them. It's easy to turn away but that doesn't help the afflicted.

Neil Hetherington advised us to support existing nonprofits rather than creating our own. In my own "angry young man" phase, I wanted to tear things down and rebuild them. That's the easy answer. Working within existing structures is tougher but leads to better, faster results. You acquire valuable skills. Children and pets teach us this too.

I think I can. I think I can.
— The Little Engine That Could

Kiran Bir Sethi explained how the "I can" bug became contagious in her school and spread beyond. Oh the magic when a child (or an adult) switches from asking "can I?" to saying "I CAN". The tale feels like Slumdog Millionaire but is real.

Jennifer Luis informed us of a worldwide Design For Change contest in which a child picks one idea and has one week to change lives. There are 50,000 schools participating in 24 countries in 14 languages (including Braille). There's even a theme song by Raffi (listen or read the lyrics).

Sol Guy said that being apathetic is pathetic. These days abundance comes from giving, not gathering. Corporations can use their global reach to help. Imagine if Coca Cola used their logistics and infrastructure to deliver medicine along with their beverages.

Amanda Sussman explained the importance of understanding how the political system works and making change from within. The radicals outnumber the reformers. She pointed out that new doesn't mean better and the process is slow at getting results.

Tonya Surman ditched her prepared presentation two weeks ago to talk instead about a passion that enrages her: the lack of collaboration. That's the DNA of innovation but self-interest intrudes. Ideas also need capital, which can be raised locally through Community Bonds. This innovative approach gives investors social returns in addition to financial returns. Other nonprofits may want to create their own. Her presentation is now on her blog.

Emmanuel Jal was a war child without a future until he got rescued. He now tells his story with words and music.

trey anthony encouraged us to answer our personal calls to action. We each get a call but do we answer? Do we make the world better than we found it?

Dave Meslin explained how the world discourages our involvement through intentional exclusion. Reviews of movies and restaurants give addresses, prices, hours, phone numbers and websites. In contrast, political issues have much more impact over our lives but articles lack contact details. We're treated as spectators but can participate if we choose.

Robert Bolton, Eric Chan and Andrew Zealley melded words, music and visuals to perform an updated version of Orpheus, covering the years 1986-2019. Experience can't be downloaded and the effect can't be easily described.

George Kourounis explores the extremes of nature. He seeks what others flee. We've only explored 3% of the oceans' depths, which means we know more about the moon. We don't know much about caves either. George said that if he's alive, that's a good day. Don't you feel the same?

Neil Pasricha explained the inspiration behind the 1000 Awesome Things blog and the pleasant consequences. We have so little time to enjoy the special moments. Why not start now?

So ended the talks. What do you think? If you're intrigued, you'll probably find a TEDx event near you or you can launch your own.

Call To Action

Ideas change us but ideas are wasted unless we act on them or share them. Discussions help and we had plenty of time for them at TEDxToronto. Our day started at 9 AM and ran until 4:30 PM. That's 7.5 hours but we got 3 hours of breaks: 45 minutes in the morning, 90 minutes for lunch and 45 minutes in the afternoon.

If you're there, you've got the opportunity to talk to fellow TEDsters. They're open-minded. They have their own perspectives. They're articulate. They're willing to share. And if they're not, just talk to someone else. I only excused myself twice: one person was self-absorbed and the other looked down on those without university degrees.

If you can't attend the live event, the second best choice is a satellite location because you'll be able to talk to other attendees. The last choice is watch from your own computer.

Video for 2010 will be posted on TEDxToronto.com and the TEDxTO channel on YouTube.

I'm looking forward to 2011 and hope I'll get accepted.

Podcast Episode 86 (9:09)

direct download | Internet Archive page

September 4, 2010

reBOOT: WHAT HAPPENS WHEN YOU DONATE YOUR COMPUTER?

We rely heavily on technology and so do those less fortunate. How long do you keep a computer? What do you do when you no longer need it?

Upgrade Schedule

When do you upgrade? My timetable is every two years. I might delay a bit if there's a new operating system on the way. Vista wasn't worth the wait but Windows 7 was.

The new equipment is high quality and generally made for business. I'm writing this on a ThinkPad X200 tablet with multitouch, pen support and a silent hard drive with no moving parts. A month after I bought, the X201 was launched … that's another story. The point is that the equipment will last. We cascade within the family and then donate.

Here's what we just gave

two Pentium 4 desktops, each the size of a large loaf of bread (QBIC, Shuttle XPC 20th anniversary edition)
two 15" LCD monitors (Samsung 570)
a flatbed scanner with a sheet feeder (HP Scanjet 6250)
inkjet printer (never used)
assorted wireless keyboards, wireless routers, etc

Please don't ask what this equipment cost when new.

reBOOT

Search online and you'll find many places that accept equipment. We picked reBOOT, with locations across the country. This national charity sends refurbished equipment to charities and nonprofits across the country and abroad. One shipment of 60 computers is destined for schools in Afghanistan but the Taliban are blocking delivery because girls would also be educated.

Worried about identity theft? Me too. So I wiped the hard disks at home. reBOOT does too using RCMP standards. That's important for peace of mind and a key reason I'm careful about where equipment goes. If you're really worried, you can remove the hard drive and smash it to bits with a hammer. Extreme but effective.

Thanks to Microsoft, all computers come with Windows XP and Office XP (Word, Excel, Outlook, Publisher, PowerPoint, Access and FrontPage).

You can buy equipment there too.

New Homes

Since we upgrade regularly, I wasn't sure that what's obsolete for us would be useful to anyone else. It is. Here are the likely destinations.

Mini-desktops to UNESCO?

Aid organizations want small, light, reliable equipment because space is at a premium. Our computers are ideal. They can be turned into servers after adding 2 TB hard drives. Our computers use low power, which is also a bonus.

LCD monitors to UNESCO?

A 15" LCD with 1024x768 resolution is still usable. The smaller size helps with portability. Our monitors might accompany the mini-desktops.

Scanner to Seniors?

Seniors have old photos and slides and other things to scan. Our scanner has a slide adapter, a sheet feeder, a white light and the character recognition works with text as small as 4pt. So it's still useful.

The Rest

The future of the rest of the equipment isn't known. It works and will likely find nice homes. Now that we know that old equipment can be reused, I'm happier about donating more and sooner.

Your Turn

Some computers — especially Macs — were almost old enough to vote. We saw a Mac donated three weeks ago that's now a door stopper.

You probably have stuff to donate and causes you care about. Why not give while the equipment can still be used? You may get a tax receipt. You'll also clear up space at home … for more gadgets.

Podcast Episode 82 (4:29)

direct download | Internet Archive page

PS Back to School time is a great opportunity to give.

July 3, 2010

HOW TO LEVERAGE YOUR PHILANTHROPIC GIFTS

When it comes to giving, you've got many ways. Some involve tax receipts and others are pure gifts. Last time, we looked at donation guidelines for billionaires from Warren Buffett, Bill Gates and Melinda Gates.

We don't have quite as much money to give, which makes the use of effective strategies more important.

There will be certain people who have been successful and if you can show them how their money might be leveraged, that really appeals to them. The leverage aspect is important. --- Warren Buffett

Leveraging lets you do more with less.

Conventional Ways To Give

The approaches here are simplified and focus on money. They are meant for people with a giving heart who are willing to bear some cost. Otherwise the donation is not a genuine gift. If you're looking solely for tax advantages, you may not be satisfied. Though, when it comes to giving, do the reasons matter?

In Canada (and probably other countries), your dollar goes farther when you

give to registered charities, which usually gives tax credits or tax deductions
give money to poorer countries
use matching gifts: your employer or some other donor may match your gifts
gift public shares: you don't pay tax on the capital gains

An Overlooked Way

Life insurance provides an exceptional form of leverage: a small premium provides a large death benefit. Did you think of insurance in those terms before?

Suppose you want to donate $100,000 to a charity. Giving cash or equivalents may not be possible. An alternative is to buy a $100,000 life insurance policy on yourself and donate the death benefit to the charity. Your small premiums are usually tax deductible but you forfeit the big tax savings from the death benefit.

There are three drawbacks for the charity:

your gift doesn't help with current needs
if you stop paying the premiums, you create a dilemma: does the charity throw the insurance away or pay premiums with funds earmarked for pressing uses like repairing the roof?
the charity doesn't know when they'll receive the lump sum

In some ways, you're worth more to the charity dead than alive. The sooner you die, the more they benefit. How perverse.

Enhancements

There's another way if you have cash or the equivalent: donate the $100,000 now. The charity rejoices because you've eliminated all surprises and and let them work on current projects. You're happy because you're helping now, getting recognition now and getting tax savings now. You may even spur other donors to follow your lead. You no longer need to worry about investing the $100,000 or paying tax on the investment returns --- a nice bonus.

But you no longer have the $100,000.

Here's a way to get that back. Why not use the tax savings to offset the value of your gift with life insurance? The death benefit could be $100,000 or a larger amount if you want to replace the growth you could have earned if you donated at death. The tax savings may not be enough to pay the entire premium, but certainly offset the cost.

Here you control who receives the death benefit. Right now, you may want the proceeds to go to your family. When you're retired and they are settled, you may might want to donate the death benefit to a charity. That creates more tax savings, which leaves more of your estate intact.

Here Tomorrow?

Governments want our money too. If they're not satisfied with what they're collecting, they're bound to find ways to grab more from us. In their parlance, we're "taxpayers". The tax incentives that encourage charitable donations could easily be reduced or eliminated.

By donating now, you lock in today's tax advantages. The incentives could be enhanced, but how likely do you think that is --- especially if billionaires deplete tax coffers with hefty donations.

How horrible to plan and find the vagaries of the tax system work against you. Giving now eliminates those risks.

Other Ways

"… the giver must make a sacrifice, create an uneven exchange, … and do it all with the right spirit. To do anything less … doesn't rise to the magical level of the gift." --- Seth Godin, Gifts, misunderstood

Leverage reduces your sacrifice, which boosts the value of your gift. With conventional financial leveraging, you create tax deductions by borrowing to invest. That magnifies gains … and losses. Leveraging for charitable giving need not.

Links

Donation guidelines from Warren, Bill and Melinda

The three key questions for your charitable giving

Donating: do the reasons matter?

The four steps in wealth management

Give your greatest gift

The pros and cons of financial leveraging

Gifts misunderstood (Seth Godin)

My Philanthropic Pledge by Warren Buffett (June 16, 2010)

Should you leave it all to the children (Fortune, September 1986)

image courtesy of Andrew Javorsky (United States)

Podcast 73 (5:19)

direct download | Internet Archive page

PS Feel free to share other ideas

June 27, 2010

DONATION GUIDELINES FROM WARREN BUFFETT, BILL GATES AND MELINDA GATES

Fortune - $600B challenge (June 16, 2010)

A philanthropic family on balance is going to feel better about themselves and their progeny than a family that has been hanging on to every single penny. --- Warren Buffett

What we give depends on what we have and how much we care.

We often become more philanthropic as we age. What if figured out our plans for giving now? This doesn't mean you must give now (though you could).

If you don't have the amount you want to give, you then have an opportunity to save. You can also look at nonfinancial gifts.

Financial Gifts

Let's start with these. What's a reasonable amount to give? The answers will vary.

Bill, Melinda and Warren want other US billionaires to donate at least 50% of their net worth while alive or upon death. That amounts to $600 billion dollars. A billionaire can easily donate 50% today and still live in comfort since they'd have at least $500 million left. Setting this relatively low bar helps encourage participation. Later, the amounts donated could increase.

My hope for this is that it takes on this momentum not only with the billionaires but that it expands out. I do think there's a crowd mentality. It becomes the right thing to do. And so, more will because others are doing it. --- Melinda Gates

The pledges will show on the Giving Pledge website but there's no binding legal commitment to follow through. Here's a video summary. You'll find links to more details at the bottom of this post.

Watch CBS News Videos Online

Warren is donating 99% of his net worth. Bill and Melinda are donating 95%. We're not billionaires but can also be philanthropic.

A Simple Formula

No one ever said to me, 'We gave more than we should have.'
--- Bill Gates

How do you figure out how much to give? This formula has three steps

Figure out how much you and your spouse need for the rest of your lives.
Figure out how much you want to leave to your heirs. ("A very rich person should leave his kids enough to do anything, but not enough to do nothing." --- Warren Buffett)
Donate the rest.

Anyone can use this formula. The challenge is figuring out the amounts in the first two steps. What if you live another billion seconds? If your donation takes place through your estate after both you and your spouse have died, you won't have much worry over running out of money. That's the biggest fear that Napoleon Hill identified in 1937.

Nonfinancial Gifts

You don't have to give money. You can donate something more personal and precious your time and attention. You have as much as any billionaire.

Podcast 72 (3:38)

direct download | Internet Archive page

PS Leveraging lets you donate more. We'll look at how next time.

June 12, 2010

MEET INDISPENSABLE COMRADES ON LINCHPIN DAY

Linchpins are everywhere. Raise the flag.

Are you indispensable?

That's tough to answer unless you think the world orbits around you. Maybe you've taken steps to become a bottleneck. Do things go wrong when you're on vacation? If so, you're more disposable than you think (unless you're unionized).

Suppose you died. Finding a replacement may take time but your company won't shut down (unless you're a freelancer).

The truth is that life goes on. We often matter most to our families. They'll survive too. How well varies …

Make A Difference

The truth is that we make a difference in the lives around us.

You may want to make a bigger impact. Taking a path you rarely travel helps. So do comrades. There's vicarious joy in seeing them make the world better too.

How To Identify The Indispensable

If you're not sure if you're indispensable or on the path there, this video from Jacqueline Novogratz helps you decide. She the founder and CEO of Acumen Fund.

Jacqueline Novogratz on how to recognize a linchpin from Seth Godin on Vimeo.

Where To Find Like Minds

How do you find people who share your view of the world? That's easy online but less than satisfying. Meeting in person --- at least occasionally --- builds bonds. If you've already connected online, you're not meeting strangers.

That's why I'm more interested in attending the local TEDxTO than an official TED conference thousands of miles/kilometres away.

Linchpins Are Everywhere

Attend a free volunteer-run event on Linchpin Day, June 14, 2010. Currently 5,680 people from 90 countries have registered for 791 events across the planet. Most gatherings have less than 30 registrants. That's a recipe for intimate and interactive discussions.

You're bound to meet people making a difference in the world. If this appeals to you, why not participate?

Podcast 70 (2:49)

direct download | Internet Archive page
PS I'll be at two gatherings: general at 10 AM (organized by Phil Johnson) and philanthropic at 5PM (organized by Paul Nazareth). If you're there too, let's chat.