Bob DePasquale

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EP #97: Charitable Giving with Rick Peck

Robert DePasquale

Philanthropy doesn’t have to be complicated.  There are many ways that you can be generous.  Unfortunately, the charitable sector has many rules and items that can confuse people who want to give.  It’s common to default one’s giving to what is easiest or what is suggested by friends and family.  Most importantly, you should ask yourself what is most meaningful.  

Rick Peck has 17 years of experience working in the charitable sector.  His previous career was in personal financial advice and through that work, he obtained a well rounded set of technical finance skills.  They have enabled him to create a strong bridge between people’s investment situation and their giving plans.  He now works as the Vice President for Development and Philanthropy Services at the New Hampshire Charitable Foundation.  His passion for giving is apparent and his knowledge is deep.  Get ready to be an inspired donor.

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What You'll Learn In Today's Episode:

  • Why charity is important

  • Why there is a need for people with a technical background in charitable giving

  • How a charitable foundation makes a difference

  • How impactful the New Hampshire Charitable Foundation is

  • Why relationships are so important

  • The importance of meaning

  • What questions you should be asking yourself about charitable giving

  • What the Amelia group is

  • The importance of an impact network

  • What is a private foundation and when to consider one

  • What is a Donor Advised Fund and how they work

  • If it’s important to know what you want to give to before asking for help

  • How people give without a reason

  • How taxes affect charitable giving decisions

  • How giving is an iterative process

  • How to stay engaged in your giving

  • How things change in your giving mindset

  • How some people have a wide array of giving and others are more focused

  • What is a Charitable Lead Trust (CLT)

  • How a CLT can help in multiple ways

  • What relates to the Secure Act and charitable giving

  • What is a “Stretch IRA” and how to generate a similar effect

  • How Roth IRA conversions can be a charitable strategy

Ideas Worth Sharing:

“I’m really interested in finance in a sense of what can I help people do better for themselves..” - Rick Peck

“How do you want to create some fulfillment in your life.” - Rick Peck

“Community foundations are a way for people to understand a little more about their community locally.” - Rick Peck

“We can listen to what they are trying to accomplish from an impact standpoint..” - Rick Peck

“It that way we help 1000’s of non-profits and help 1000’s of individuals do what is important to them.” - Rick Peck 

“We put out $60 million in grants last year.” - Rick Peck 

“About $7 million was put out in scholarships.” - Rick Peck 

“We took in about $77 million dollars in contributions.” - Rick Peck

“That goes into a pool and that’s about a billion dollars.” - Rick Peck

“If they’re looking for a relationship and for people to really customize their giving strategies, then that’s what we do.” - Rick Peck 

“That comes from self-awareness.” - Rick Pick

“In the end, I see myself as a connector.” - Rick Peck

“Payout from Donor Advised Funds is usually over 20 percent.” - Rick Peck

“We have over 2200 different funds here.” - Rick Peck

“We want to make sure that the journey that you’re on is meaningful to you.” - Rick Peck

“It’s not for money buts it’s about the money.’” - Bob DePasquale

“There’s something more emotional about the relationship you develop with people in their charitable giving .” - Bob DePasquale

Resources In Today's Episode: