How Charitable Giving

Builds Stronger Families

What Does “Giving Back” Really Mean?

For many people in Minnesota and beyond, “giving back” isn’t just about writing a check or dropping off a donation; it’s about working together as a family to make a positive impact in the lives of others. It’s about utilizing what you’ve been given, including your time, skills, or financial resources, to strengthen your community.

Charitable giving can also serve as a bridge between generations, showing younger family members that wealth isn’t only about comfort or freedom; it’s also about generosity and impact. When parents involve their children or grandchildren in decisions about charitable giving, they help them develop both financial awareness and compassion.

At iWealth, our team of Minnesota-based financial advisors has witnessed numerous examples of families across Minnesota discovering purpose through giving. It’s one of the most rewarding ways to connect your financial goals to your personal values and to help shape the kind of community you want to live in.

Building a Family Culture of Generosity

Many people view giving as part of who they are, not just what they do. Passing that mindset along can have a lasting influence on generations. When families discuss which causes they want to support and why, they’re doing more than just donating; they’re teaching values like empathy, gratitude, and stewardship.

Imagine involving your kids in supporting a local food shelf, youth program, or church initiative. These shared experiences teach that wealth has purpose beyond personal use; it’s a tool to lift others up.

Brad Connors, founder of iWealth, has seen this firsthand through his leadership of the iWealth Holiday Food Baskets and Backpacks Drive, an initiative that brings together volunteers of all ages.

“Seeing high school students packing food, Scouts helping with distribution, and churches uniting for a common cause is incredible,” Brad shared. “It’s amazing how this event not only serves families in need but also strengthens those who participate.”

Last year, iWealth raised $11,125, which provided holiday meals for more than 600 people and supported over 8,000 food backpacks for area students throughout the year. The ripple effect of that generosity touched hundreds of lives and inspired even more people to get involved the following year.

Why Intentional Giving Matters

As iWealth advisor JP Eykyn puts it, “Intentional is the first word that comes to mind. Be intentional about your giving. Take the time to find causes that resonate with your family’s values, then prioritize them.”

Intentional giving creates meaning. When families choose causes where they can see and feel the impact, it transforms giving into a shared tradition. Children and grandchildren begin to understand that selflessness isn’t just about sacrifice; it’s about being part of something larger than yourself.

Another iWealth advisor, Gary Guentzel, adds that legacy planning for charities is often overlooked. “Charitable plans can reflect a lifetime of values, and with the right structure, those values can continue for generations,” he says.

Thoughtful charitable strategies can also complement your overall financial and estate plan, helping to manage taxes while reinforcing what matters most to your family.

Working Toward Tax-Efficient Giving Strategies

Charitable giving doesn’t have to be spontaneous to be meaningful. With a well-thought-out tax-efficient giving strategy, your generosity can align with your long-term financial goals.

Popular charitable giving financial tactics include:

• Donor-Advised Funds (DAFs): Contribute cash, stocks, or other assets; take a tax deduction now; and recommend grants to your favorite charities later. It’s flexible and family-friendly.
• Charitable Remainder Trusts (CRTs): Provide income for you or your heirs during your lifetime, with the remaining assets going to charity.
• Charitable Lead Trusts (CLTs): Direct income to a charity for a set time, then transfer remaining assets to heirs.
• Bequests: Add charitable organizations to your will as part of your lasting legacy.
• Appreciated Assets: Donating investments, such as stocks, can help avoid capital gains taxes while supporting your cause.

Integrating charitable giving into your retirement plan or tax strategy allows you to connect financial decisions with personal meaning. It’s about aligning your values with your wealth, not just during your lifetime but for years to come.

The Power of Volunteering and Service

Charitable giving isn’t only financial; it’s also about giving time and talent.

As iWealth’s Vice President, Shawn Pomeroy, shared from his experience as a Scout leader and Red Cross CPR instructor, volunteering can be transformative: “When families and community members model active citizenship and service, they inspire others to get involved. The ripple effect of volunteering extends far beyond immediate participants; it builds empathy, cooperation, and a stronger community.”

Shawn’s involvement with programs like CERT (Community Emergency Response Team) and SkyWarn weather spotting demonstrates how families can connect across generations through volunteerism. Parents, grandparents, and children working side by side develop mutual respect, shared skills, and lasting memories.

Building and Preserving Your Legacy Through Estate Planning Strategies

Estate planning isn’t only about distributing assets; it’s about defining how your values and generosity will live on. A comprehensive plan can include charitable bequests, family trusts, and guidance for how future generations continue giving.

A strong estate plan strategy also considers risk management, such as maintaining insurance coverage, updating beneficiary designations, and reviewing investment allocations to help your legacy remain intact through life’s changes.

Collaborating with professionals such as a fiduciary financial planner, estate attorney, and CPA creates a coordinated framework for the future.

Watch our founder, Brad Connors, discuss the importance of estate planning and common mistakes you can avoid today.

Strengthening Communities, One Gift at a Time

Across Minnesota, charitable giving has transformed countless lives, helping fund youth programs, fill food shelves, support healthcare initiatives, and foster education. When you give locally, you’re not just donating, you’re also investing in people. You’re helping a neighbor through a hard time, supporting a child’s future, or contributing to a stronger community foundation.

At iWealth, we view charitable giving as an ongoing part of life, not a seasonal endeavor. Whether through financial gifts or volunteer service, every action has a ripple effect. When families come together, they’re not only strengthening their community, but they’re also reinforcing what matters most: compassion, purpose, and connection.

Read our article on: “Financial Life Lessons from Our Player of the Game Athletes.”

How Giving Strengthens Family Bonds

When families volunteer, donate, or plan charitable initiatives together, they build shared purpose and open up meaningful conversations about values and priorities. Instead of money being a private topic, it becomes a shared mission. Over time, these discussions help younger generations understand stewardship, including how to manage resources responsibly and utilize them to benefit others.

If you want to get started:

• Identify causes that resonate with your family’s values.
• Decide how to give your time, money, or both.
• Create a family giving plan with clear goals.
• Work with a professional to integrate charitable planning into your overall financial strategy.

How iWealth Helps You Give With Purpose

At iWealth, we believe generosity connects people, strengthens communities, and builds legacies. Our team helps families design charitable giving strategies that seamlessly integrate into their financial plans, whether through Donor-Advised Funds, Qualified Charitable Distributions, or coordinated estate and tax planning strategies.

Charitable giving isn’t only about what you give; it’s about how you give and who you bring along in the process. We’re honored to help Minnesota families turn generosity into lasting impact.

When you’re ready to explore how giving can become a lasting part of your financial life, start by connecting with us for an introductory conversation.