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October is National Financial Planning Month; Charitable Planning Key to Strengthening Communities

October 20, 2020

We all are living in different times which presents an opportunity to slow down and think about what truly matters most to us. October is National Financial Planning Month, an ideal time to reflect on one’s financial health and to review or establish a personal financial plan.

Reviewing household expenses and creating a budget, building up your savings, consolidating or paying off debt and planning for retirement are just a few components of developing a financial plan. Charitable planning is often overlooked as part of the financial planning process and the Community Foundation of Northeast Iowa is encouraging individuals to consider this as part of their overall plan.

The Community Foundation of Northeast Iowa works with individuals, families and businesses to create charitable solutions that match their passions, maximize tax benefits and create a philanthropic legacy for generations to come.

Charitable planning is the way in which you give back to the causes or organizations that mean the most to you in your community while enjoying financial benefits for yourself. There are many ways to give through your local Community Foundation that may also align with your charitable goals. Learn more about ways to give at

Planned giving (gift in your will) is another avenue to consider when looking for ways to provide long-lasting support for your community. Individuals can direct their planned gift to the nonprofit organizations that best align with their charitable interests. Additionally, a bequest can be used to create an endowment fund, which will last in perpetuity, or contribute to an existing fund. Some of the benefits of establishing a bequest can include flexibility, tax savings, recognition, personalized giving and efficiency.

A downloadable estate planning guide and other free will planning resources are available at For questions about planned giving, contact Terry Gaumer with the Community Foundation of Northeast Iowa at 319-243-1354 or

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