Give More HUGS is Financial Residency’s Charity of Choice
Low-income children face many struggles and are often held back due to their financial situations. This can spark an internal conflict limiting their reach towards their fullest potential.
The conflict is a result of extenuating circumstances—circumstances varying greatly from the middle-class.
If helping youth receive quality resources early on, can they be given the same positive life opportunities as the children from middle-class homes?
Give More HUGS thinks an emphatic YES.
“Children from middle-income homes have on average 13 books per child. There is only one book for every 300 children in low-income neighborhoods.”
Books are the cornerstone to any quality education, but not all children have access to them. This, unfortunately, changes the landscape for many students who may want to learn, but aren’t afforded an opportunity to receive the education they need.
Give More HUGS believes that a child should never be deprived of an optimum education due to their born-into socio-economic situation when education is the very KEY to set them free.
My wife, Taylor, and I love that and support this charity as our charity of choice.
As donors for the last several years, we have known about the Give More HUGS charity for some time. We’ve witnessed how amazing this organization is because of what their Founder, Chris McGilvery, and his Ambassadors have been able to do.
Their reach has been massive, seeking every opportunity to help students develop their leadership skills and #givethanks to teachers all over the world.
Give More HUGS Helps Underprivileged Students
Many children are held back by their financial situations—a circumstance outside of their control.
The only way to break the cycle is through high-quality education and care. For many children, getting the skills they need to thrive can be life-changing.
At Give More HUGS, their Ambassadors and team work hard every day to provide books and supplies to children, to try and provide quality education in as many schools possible.
Let’s help students who are less fortunate than others to have adequate resources to reach towards their academic potential. Join the Give More HUGS movement while we all celebrate the #giveHUGSgiveTHANKS campaign and fundraiser.
Give More HUGS Recognizes Teachers
Give More HUGS recognizes that teachers are an important aspect of a solid educational experience. If it weren’t for them, who else would teach and do it well?!
For all their hard work and effort teachers put in day in and day out to shape a child’s future, they deserve recognition for it.
At Give More HUGS, they’ve launched the #GHGTTeacherEdition where anyone can make a donation to honor a teacher they feel has made a difference in their life or in the lives of others.
They will provide that teacher with a Christmas card, and the donation will help others gain access to a more quality enriched education, and the tools and resources they need to reach their true potential!!
#ThankYourTeacher while helping support other students by following this link here!
What are YOU thankful for about education?! Let Give More HUGS know or find the Financial Residency FB Community where we’ve shared our latest fundraiser.
Come to find us, join us, and donate this #GivingTuesday.
Journal Club: Physician on Fire
Physician on FIRE explains that a donor advised fund (DAF) is an excellent and tax-efficient way to give to charity. There are several big advantages to using a DAF as opposed to giving cold, hard cash, or writing checks.
- You get a tax deduction in the year that you donate to the fund that you control.
- You can give from the fund to charities of your choice years later.
- You can donate equities that have appreciated and nobody owes capital gains tax.
- Your donated money can remain invested in index funds.
When donating appreciated mutual funds, you are limited by IRS rules to giving 30% of your adjusted gross income in any given year. When donating cash, you can give and deduct up to 50% of adjusted gross income.
He then goes on to show you some math of how much it costs to put $100,000 into a DAF. His calculations led him to figure out that his costs about $58,000 to donate $100,000, and that’s without factoring in the potential savings in capital gains.
There are some drawbacks to giving to donor advised funds and I encourage you to check out his article for more detail. There is also a link at the bottom that links to an article written by Michael Kitces, The Nerd’s Eye View, that goes significantly more in depth if you really want to dive into the subject.
Thanks, Physician on FIRE!