(Continued)

Making a difference
Among the many New York Life agents who are making a difference is Carrie Hall, CLU, CFP, in Phoenix. Hall grew up in a small town of 2,000 people in a family that has always been involved in charity work. Hall appreciates New York Life’s approach of letting agents choose the organizations they want to support and then providing funding for those organizations. She believes this maximizes the foundation's donations because they are closely aligned with volunteer capabilities of agents in the field.

Hall is highly involved in Arizona's Children Association (ACA), an organization whose mission is to protect children and preserve families. She takes advantage of a number of foundation-funding opportunities for ACA. One is the foundation's competitive grant process. Hall has received sizable grants to support ACA’s First Steps program. The objective of the program is to prepare low-income families for the responsibility of having a newborn child in their homes.

Beyond fundraising
To kick up her involvement a notch, Hall stretches beyond bringing in dollars and cents. Her experience is an excellent example to others who want to provide time and talent, as well as treasure. “As an agent and a businessperson, you can give not only fund-raising capability, but also business knowledge to the organizations. For example, I realized that ACA needed a strategic business plan. They are good at social work, but they needed a way to increase fundraising and a way to let the community know about the organization. I worked with another volunteer, a former business executive, to create the plan.”

Advisors can help organizations build their boards of directors, shore up their volunteer rolls and pump up fund-raising activities by introducing well-connected business clients to the executives in the nonprofit world. In addition, advisors have many business clients whose services and expertise can fill large needs for some organizations. For example, a restaurant-owner client can use his contacts with food wholesalers to keep a soup kitchen’s shelves from going bare.

Hall introduced ACA to a nonprofit attorney to lend legal guidance to ACA's foundation. “I wanted someone to look at the foundation and make sure the right decisions were being made. It doesn't cost me any money, but it was so important to the health of the foundation, and it was rewarding.”

“…when people who are prominent in the business world are involved, they bring credibility to the cause that is otherwise difficult to obtain. ” —Fred Chaffee, president and CEO, Arizona’s Children Association

Hall's story demonstrates the importance of advisors drawing on all of their resources and contacts to help a cause. Fred Chaffee, CEO of ACA, says that without the leadership of businesses, many organizations cannot do an awful lot. "You can get scraps from the table, but when people who are prominent in the business world are involved, they bring credibility to the cause that is otherwise difficult to obtain. Carrie's contacts are invaluable when we travel and tell our story to raise money through the private sector. She has introduced us to countless people who have partnered with us by giving private money," he says.

Hall's philanthropic mindset has seeped into her practice, which includes estate planning. She has crafted the estate plans of some of ACA's board members to include the organization. ACA is a beneficiary of one of Hall's life policies. Hall is also willing to let ACA use her name to their benefit. "Her leadership by example is important," Chaffee says. "There never seems to be enough money to work with the challenges of kids and families, so we are dependent on private dollars. Carrie's been helpful in introducing us to the right people."

The benefits of giving
Giving to the community has many advantages. As a businessperson, you want to be seen as a whole person. When you give back to the community, you are sharing a side of yourself that completes the whole picture of who you are. This comes back to Hall tenfold. “When people see you working with the cause of their organization in mind, they will come to you when they need personal financial planning help. They will say: ‘I want you to handle my financial planning because you will have my best interests at heart.’”

There are other aspects to volunteer involvement, Hall says. “One, you learn so much. My experience has taught me a lot about business planning, how to get committees and boards together and working. Two, I have two small children, and I want them to see that both mom and dad are very active in the community and that it is an important piece of what you need to do as an adult."

How to help
Many times people don't get involved in a community cause because they think they don't have enough time or money. Condrey and Hall have shown that although there is a need for money, there's also a need for the volunteer spirit.

If you're not supporting an organization right now and don't know how to begin, think first about the human conditions that tug at your heart. Is it hunger, poverty, child abuse or illiteracy? Is it the aging population, children, animals or a certain illness that you keep hearing about? If you work in an agency with a few people, why not find out what you can do collectively?

Next, do some research to find local organizations that are addressing the issues that interest you. You may want to review their annual reports to make sure you are comfortable with their stewardship of the dollars they receive. Once you've chosen an organization you believe will meet your needs, call or stop by and ask to speak with the person who coordinates volunteer activities and schedules. Then ask some simple questions: What volunteer opportunities are available? What time commitment do you expect from your volunteers? What is the biggest challenge your organization faces? What materials, expertise, people or services do you need to meet the challenge? Once you're sure you want to become involved, ask the biggest question of all: How can I help?

Part: 1 | 2

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