Are you a donor or a philanthropist?

To find out, take this short quiz:

Do you
a. get direct mail
b. receive proposals
a. write checks
b. award grants
a. give out of disposable income
b. give out of investments and savings
a. compliment personal values
b. implement a charitable mission

If you answered mostly “a”, you are a donor. Thank you – we need more people like you who take time to give to charitable causes that have requested a donation by mail or phone. If you answered mostly “b”, you are a philanthropist – congratulations!

There is certainly nothing wrong with being a donor. Non-profit organizations would not survive without the generosity of millions of donors that give out of their disposable income each year.

As a philanthropist, you have gone one step further. You have become more deliberate in your giving. You have taken time to develop your own mission statement which will also drive you to decide how much you want to contribute annually and even make plans to leave charitable gifts in your estate plan.

How does one develop her mission statement? First, discover your values by answering these questions: what values guide your choices in life? What values did your parents pass on to you? What are the qualities of the most influential individuals in your life? Two other questions that will help you decide: think about the most satisfying gift you have made thus far and what are the values inherent in such a gift; and if you could change one thing in this world and had unlimited resources at your disposal, how would the world be different?

This is an exercise that will take some time, but it’s the type of exercise that can be worked on over a few days or a few weeks. Think about what you are passionate about when you read the newspaper, what stories anger you, inspire you, and bring joy? This will also help you identify your values.

Once your values have been identified you can write your mission statement. Then you need to decide how much to give away annually? Decide if you want to set a target amount or percentage of income each year. Currently, the national average for those who itemize their charitable contributions is 2%. What you cannot give in money, consider giving your time.

By becoming a philanthropist, you direct your influence now and in the future. You can help bring change to the world through helping the causes and organizations that you believe in. You can make a difference.

Next month – Giving Circles – the power of many to make an impact.