This November, the Children’s Scholarship Fund gathered our President’s Council and Young Leaders Board for an evening of “Cocktails and Conversation” with Peter Lipsett, Vice President of DonorsTrust.
Peter reminded everyone that you don’t need a top hat, a monocle, or a billion dollars to be a true philanthropist – our President’s Council and Young Leaders Board members are already the next generation changing the lives of the children CSF serves.
With warmth and wittiness, he urged the group to think of ourselves as philanthropists rather than givers and to really start to think strategically about how each of us can actually make the world a little better with not only our financial support, but also our time and talents. Specific advice included:
- Adopt a clear mindset about what gets you excited about giving and find other like-minded groups that can help you leverage your investment to reach your goals.
- Assess your “tools” available to give. These include not just discretionary cash flow, but also assets such as appreciating stock, qualified charitable contributions from your IRA, starting a donor-advised fund, tax breaks, and other tools you can leverage so you have more assets available and can better time how and when you make charitable gifts.
- Turn philanthropy into a habit. That last point especially landed. Peter explained that the best things we do in life become great when they become habits – for example, hitting the gym three times a week because we know it can add years to our lives. Giving deserves the same intentional rhythm.
Peter also walked through exciting changes coming to the tax code. For example, for those who do not itemize but take the standard deduction, in 2026, you can deduct $1,000 ($2,000 if you’re married) for charitable donations to organizations like CSF. And Peter also discussed the new Federal Scholarship Tax Credit arriving in 2027. Both of these changes can make every dollar you give to CSF go even further. Talk to your tax advisor to learn more.
CSF President’s Council and Young Leaders Board members left equipped to nudge the world a little further in the direction of opportunity, keeping alive the vision of CSF founders Ted Forstmann and John Walton. Ted and John believed that when parents have real choice, children truly get a chance – and when thoughtful philanthropists show up strategically, entire communities thrive.
Thank you, Peter, and thank you to all of CSF’s supporters already wearing the philanthropist mantle (top hat optional). You can learn more about DonorsTrust at www.DonorsTrust.org.
