Wealth manager, BDF
“Being in a certain demographic doesn’t mean you’re never going to be in need,” said Breanna Coffey, wealth manager with BDF and the firm’s subject-matter expert on philanthropy.
The impact of charity hit home for her when she unexpectedly gave birth two months early while she was several hours from home. Coffey and her family received a month of free housing from Ronald McDonald House while the baby was in intensive care. “The experience gave me an enhanced awareness of how charities change lives,” she said. “It gave me a different perspective, as a recipient.”
To make philanthropy more accessible to clients, Coffey has them write a mission statement about their charitable interests. The process helps them develop specific goals so they can be more targeted and impactful in their giving. “We delve deep and ask them, ‘What you are trying to accomplish?’” she said.
Coffey then develops a strategic plan that looks at factors such as how much clients can give and how often, tax implications, sources of funds, fund recipients and charitable vehicles such as a foundation or a donor advised fund. “It helps clients to feel ‘What I do matters,’” she said.
— Deborah Nason