We’re big fans of legendary investor Warren Buffett, so when he announces that he wants to teach us something—for free, no less—we take note. He and his sister, Doris Buffett, are a dynamic duo when it comes to charitable giving: Last year alone Buffett gave away $3.084 billion. Now the 83- and 85-year-old siblings are hosting a free online course called Giving With Purpose about how to maximize what we give to charity and follow in their pretty generous footsteps—you know, at your own pace.
Doing good can be hard work, especially since there is so much need. In addition, your time and resources are not unlimited either. Fortunately, the “Oracle of Omaha” has some words of wisdom when it comes to focusing and leveraging your charitable impact.
Actually, Buffett’s counsel is really a framework of thought – the “RISE Framework for Social Change.”
Forbes recently explored the RISE framework in an article titled “4 Charitable Giving Tips From Warren Buffett.” Originally developed by one of the lecturers with Buffett’s free online giving course “Giving With Purpose,” RISE is an acronym to help center your thoughts and guide you toward good decisions when seeing to do good, specifically:
- Relevance – Clarify what motivates you.
- Impact – What is your “portfolio” (the collection of all your donations) and “toolkit” (the various ways you can contribute including with your money)?
- Sustainability – Is the charity likely to stay around with its “business model”?
- Excellence (in management and operations) – Is the organization well-run from top to bottom?
If you would like to learn more about the RISE framework, then read the original article and consider enrolling in Buffett’s online course in the future. After all, the course is free and he seems to have a pretty good track record when it comes to his financial abilities.
You can learn more about this topic as well as other strategies on our website under the tab entitled: charitable planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.
Reference: Forbes (September 6, 2013) “4 Charitable Giving Tips From Warren Buffett”