My Giving Plan
I plan to contribute $5,000 or 10% of my business profits, whichever is greater each year.
I plan to give away 10% of fund assets a year.
About the Plan
Derek established the charitable fund in August 2020 selecting the name “Derek Baker Foundation”. The purpose of the fund is to make targeted donations to charities and fundraising campaigns related to affordability. Affordability represents any opportunity to help low income or struggling Americans. The main focus on the fund is on causes related to affordable housing. A secondary focus is financial literacy and education.
- Give $100-250 to organizations and campaigns that fit within goal scope.
- Add $5,000 to fund in January 2021 by donating stock holdings.
- Grow fund to $25,000 by 2024 with $5,000-7,500 yearly contribution amounts.
- Encourage my readers and followers to participate in giving to causes related to affordability.
The Giving Report
The Giving Report is a report I release publicly every quarter. It provides a snapshot of my contribution activity and a review of my giving for the period.
Next Giving Report:
October 1st, 2020
Most frequent questions and answers
Affordability related causes are the target focus. This includes affordable housing for people with low incomes or who are homeless.
A secondary focus is causes providing financial education and increasing financial literacy for young adults in their 20s and 30s and low income individuals.
Causes are supported using fundraising platforms or directly to IRS qualified public charities using a donor-advised fund (DAF).
The typical donation ranges from $100-250.
Donations made through the donor-advised fund, direct giving, or crowd funding campaigns are featured in the quarterly Giving Report. They’re also occasionally featured on the blog.
I’m always interested in learning about new giving opportunities that fit within the affordability scope of my giving plan. Please contact me with more details and I’ll take a look.
While I can’t invest in every charity I can help get the word out by featuring organizations on my blog and on social media.