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In this podcast episode, Michelle speaks with Canadian founder and CEO of Charitable Impact, an online giving platform to develop, navigate, and carry out one’s charitable goals in a unique and surprising way. John Bromley’s visionary leadership and innovation have indelibly reshaped the charitable sector in Canada and the options are available in the US as well.
Bromley’s career began in corporate finance, but a pivot into charity law revealed the obstacles standing in the way of charitable giving in Canada. Motivated to make giving more accessible and participatory, he founded Charitable Impact. He’s been challenging the status quo, and advocating for greater access, education, and dialogue ever since. Charitable Impact has proudly facilitated more than $1.5 billion in donations and is helping tens of thousands of Canadians discover their innate generosity, pursue their vision for change, and transform their giving habits. John is a two-time TEDx speaker, a Business in Vancouver Forty Under 40 winner, a soccer coach, and a doting father of two kids.
Michelle and John discussed the importance of engaging in charitable giving, regardless of one’s financial status, emphasizing that individuals can start giving even with small amounts. John shared insights from his background, including his father’s influence as a pioneer in charity law in Canada, and highlighted the concept of donor-advised funds (DAFs) as a practical tool for facilitating charitable contributions.
Focusing on how DAFs allow individuals to create a giving account, receive immediate tax benefits, and plan their charitable donations over time. This approach encourages people to overcome the “intention gap”—the disparity between the desire to give and actual giving behavior.
The discussion promotes a proactive attitude towards philanthropy, suggesting that anyone can contribute to societal change, fostering a culture of generosity and community involvement, while also reaping immediate tax benefits. The episode ultimately aims to inspire listeners to integrate charitable giving into their lives, regardless of their financial situation.
00:01 – Engaging in philanthropy early
09:41 – Understanding donor advised funds
20:52 – Bridging the intention gap
32:50 – Entrepreneurial attitude in giving
42:23 – Emotional decisions in charity
The intention gap refers to the discrepancy between what individuals intend to do regarding charitable giving and what they actually accomplish. The podcast highlights how many people have a desire to be charitable but struggle to take action. Tools like donor advised funds can help bridge this gap by providing a structured way to commit to giving.
Emotional decision-making is significant in charitable giving, as individuals often feel compelled to give without a structured approach. The podcast suggests that by using tools like donor advised funds, donors can make more intentional and thoughtful contributions, rather than giving sporadically based on emotional impulses.
The guest advocates for an entrepreneurial attitude towards giving, emphasizing that it’s not about the amount donated but rather the act of starting to give. They compare the journey of becoming a donor to that of an entrepreneur, highlighting the importance of taking initiative and making charitable contributions a regular part of one’s life, regardless of financial status.
Key Takeaways:
– DAFs as a Tool for Giving:
Donor advised funds provide a structured way to manage charitable contributions while offering immediate tax benefits.
– Charitable Giving is Accessible:
Anyone can start giving, regardless of their financial situation. Small contributions can lead to significant impact over time.
– Action Over Intention:
Taking action towards charitable giving can bridge the intention gap and lead to a more fulfilling life.
– Community Engagement:
Contributing to local organizations and causes fosters a sense of community and personal responsibility.
John recently launched a new product called Charitable Allowance. It’s a great tool to help kids learn about charitable giving and practice generosity. It provides a hands-on experience for children to explore charitable giving with their own giving account.
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