The First Rule of Philanthropy: Know Your “Why”
Each year as fall arrives, many wealthy families and individuals turn their attentions to charitable giving.
Donors will benefit most by remembering that the most successful and content philanthropists have a clear understanding of what they aim to accomplish and, equally important, the reasons behind their goals.
What motivates you?
People donate time, money and resources for various and deeply personal reasons.
Do you seek recognition – a grand gala, a simple thank-you note, your name on a building? Will you simply send a check, or do you want to get deeply involved in an organization’s efforts? Is your preference to take a backseat in programs you underwrite, but actively encourage family members’ participation?
It is not being selfish to want to feel good about what you are doing – or to be recognized for it.
Are you realistic about what your philanthropy can accomplish?
Many individuals donate with the intention of making a positive impact on a community, a specific group, or the world as a whole. However, before taking action, it’s important to thoughtfully consider how you will evaluate success.
While it is admirable to have big goals, a best practice is to break down big ambitions into smaller, more attainable parts, as these are more feasible and practical to achieve.
For example, no one individual can stop the ill effects of climate change. However, funding programs that lower carbon emissions, develop new technologies or plant trees can lead to meaningful – and measurable – environmental improvement.
Have you defined a clear timeframe?
Many people want to see results of their giving during their lifetimes. Is that important to you, or are you willing to fund initiatives that pay off far into the future?
For example, individuals who donate to medical research generally accept that they may not live to see programs they support bear fruit. However, you don’t have to abandon the field to have a more immediate impact, such as by endowing a position or building a research facility that bears your name.
We can help
There are many reasons to give, all of them equally valid. So what does having a personally rewarding impact look like to you?
A J.P. Morgan team is ready to help you weigh your options, focus on priorities, get comfortable with your decision making and provide resources that can help deepen your knowledge.
Rick Barragan is the Managing Director,
Los Angeles Market Manager, for
J.P. Morgan Private Bank.
[email protected] | (310) 860-3658
privatebank.jpmorgan.com/los-angeles
Source: “The first rule of philanthropy: Know your ‘why,’” Jeff Kreisler, Head of Behavioral Science, Katie Lynam, Philanthropy Adviser, July 20, 2025
