Tuesday, November 19, 2024
Sowing the Seeds of Generosity: Maximizing the Benefits of Philanthropic Giving

In recent years, Asian Americans and Pacific Islanders (AAPIs) have attained greater visibility in film and media, politics, and philanthropy. At the same time, nonprofits that serve AAPI communities have continued to gain prominence. In this workshop, you will learn how you can maximize tax savings, achieve your and your family's financial legacy planning goals, and ensure your loved ones are provided for while you make an impact in the community.  In addition to the joy of contributing to the greater good, philanthropic giving offers many potential financial and planning benefits.

Speaker Tony Truong, a veteran philanthropic advisor, shared examples and ideas on how to leverage philanthropy to:

- Save taxes

- Increase your income in retirement

- Pass on more to your heirs

- Simplify your assets as you get older

- Replace income from a rental property you no longer want to manage

- Protect certain assets from creditors

- Exit a business

- Carry on the name and legacy of a loved one

Over the past two decades, Tony has advised donors, as well as their families and advisors, on how to maximize the benefits of philanthropic giving. He currently serves as Associate Vice President for Advancement at the University of Redlands and previously served on the philanthropy team at Providence St. Jude Medical Center and the University of California, Riverside.

Event Recap:

The event, Sowing the Seeds of Generosity: Maximizing the Benefits of Philanthropic Giving, hosted at the Japanese American National Museum (JANM), successfully highlighted the growing impact of AAPI communities in philanthropy and how donors can maximize the benefits of giving.

Keynote speaker Tony Truong shared actionable insights on leveraging philanthropy to achieve financial and legacy goals. He presented strategies on saving taxes, creating income in retirement, protecting assets, and simplifying estate planning. Truong also discussed the advantages of life income gifts, which provide financial security while supporting charitable causes. The workshop offered practical examples of funding assets, including cash, securities, real estate, and collectibles, and demonstrated the tax benefits of utilizing these resources effectively.

The event brought together attendees interested in enhancing their philanthropic impact, inspired by the opportunity to create a lasting legacy while contributing to the greater good.

Co-hosted by the Lowell Milken Center for Philanthropy and Nonprofits, Japanese American National Museum, Asian Americans Advancing Justice-SoCal, and East West Players.

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