Boom
Impact
Navigating modern finance while
staying true to our principles.
Boom
What is Boom Impact?
Boom Impact is a research group within Boom Planning dedicated to providing insight and analysis that helps you navigate modern finance while staying true to your values. Our goal is to empower you to make decisions that enhance your financial well-being while also contributing to a more sustainable and equitable world.
Our strategies include:
- Filtering out companies that conflict with your social, environmental, or ethical goals using direct indexing
- Identifying banking partners that align with your principles
- Maximizing tax efficiency through charitable giving
Charitable Giving with Impact
Maximize Your Generosity with Strategy and Insight
Charitable giving is more than an act of goodwill — it's an opportunity to align your resources with your values. With the right strategy, you can amplify the impact of your generosity while optimizing your financial plan. Whether you’re passionate about local community initiatives or global development efforts, charitable giving can serve as a meaningful and tax-savvy component of your overall financial picture.
Why Strategic Giving Matters:
- Amplify impact: Strategically timed and structured gifts can support long-term organizational sustainability.
- Tax efficiency: Reducing taxable income or avoiding capital gains can significantly increase the real value of your gift.
- Legacy building: Charitable planning can help preserve your values and intentions for future generations.
Our role is to help you identify the right tools and strategies to match your goals, whether you're giving now or planning a legacy gift through your estate.
Socially Responsible Investing (SRI) / Environmental Social Governance (ESG) investing has certain risks based on the fact that the criteria excludes securities of certain issuers for non-financial reasons and, therefore, investors may forgo some market opportunities and the universe of investments available will be smaller.
Donor-Advised Funds (DAFs): A Flexible and Tax-Efficient Way to Give
A Donor-Advised Fund (DAF) is a powerful tool for individuals and families who want to be intentional about giving. With a DAF, you can contribute assets — including appreciated stocks, real estate, or cash — and take an immediate tax deduction. You then recommend grants to nonprofits over time, allowing for flexibility in how and when you give.
How DAFs Work:
- Open a DAF account with a provider such as Schwab Charitable, Fidelity Charitable, or a community foundation.
- Make a contribution of cash or non-cash assets and receive a current-year tax deduction.
Invest the assets in your DAF for potential tax-free growth. - Recommend grants to IRS-qualified public charities at your discretion.
DAFs Are Ideal For:
- Those experiencing a high-income year and seeking a deduction now
- Individuals selling a business or large investment
- Families looking to involve children or heirs in philanthropy
- Donors wanting to support multiple charities over time
DAFs are easy to set up, simple to use, and provide the added benefit of anonymity if desired. We help clients evaluate providers, manage asset contributions, and integrate DAFs into their broader estate and financial plans.
Qualified Charitable Distributions (QCDs): Give from Your IRA and Reduce Your Tax Burden
For individuals aged 70½ or older, Qualified Charitable Distributions (QCDs) offer a highly efficient way to give. By donating directly from your IRA to a qualified charity, you can fulfill part or all of your Required Minimum Distribution (RMD) without increasing your taxable income.
Why QCDs Are Valuable:
- Tax-neutral giving: QCDs are excluded from your adjusted gross income, helping reduce overall tax liability.
- Medicare considerations: Lower income can help avoid Medicare premium surcharges (IRMAA).
- RMD fulfillment: QCDs count toward your RMD, offering a two-in-one benefit.
Requirements and Guidelines: See IRS.gov for most up to date information.
QCDs are particularly valuable for individuals who do not itemize deductions and therefore wouldn't otherwise benefit from a charitable deduction. We assist clients in identifying eligible charities, coordinating with custodians, and documenting the transaction properly.
Make Giving Part of Your Financial Plan: Vetting Nonprofits and Setting Charitable Goals
Treating charitable giving as a regular part of your financial plan increases consistency, intentionality, and impact. Just as you schedule annual reviews for retirement or insurance, it’s equally important to review and refine your charitable strategy.
Steps to Integrate Giving Into Your Plan:
- Set a Giving Goal: Choose an annual percentage of income or assets to donate (e.g., 1–10%).
- Consider including one-time gifts during windfalls.
- Automate Contributions: Monthly or quarterly giving can build discipline and provide stability to the organizations you support.
- Schedule an Annual Review: Evaluate past giving, assess the effectiveness of recipient nonprofits, and refine your strategy.
- Involve Family: Include partners or children in discussions about giving goals to create a shared philanthropic vision.
Vetting Charities for Maximum Impact:
- Use websites like Charity Navigator, GuideStar, and GiveWell to review nonprofit finances, transparency, and effectiveness.
- Read annual reports and financial statements to ensure resources are being deployed efficiently.
- Engage with nonprofits directly — attend events, ask questions, and seek impact reports.
- Align your giving with personal values by supporting causes that resonate with your life experiences or long-term vision.
Legacy and Estate Planning: Include charitable intentions in your estate plan through:
- Bequests in wills or trusts
- Naming charities as beneficiaries on retirement or investment accounts
- Creating a charitable remainder trust (CRT) or charitable lead trust (CLT)
With guidance, charitable giving can be both fulfilling and financially sound — reinforcing your legacy and the change you want to see in the world.
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Location
Our office is in the Presidio where we’re happy to be surrounded by nature and history. With The Presidio Trust as our landlord, all rental revenue is reinvested into the Presidio National Park site and we’re pleased their vision of sustainability matches ours.
We’re thrilled to work in this National Historic Landmark and to call the Presidio home.
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Address
Boom Planning
38 Keyes Avenue, Suite 125, San Francisco, CA 94129
Phone: (415) 677-9500
Email: boom@boomplanning.com
38 Keyes Avenue, Suite 125, San Francisco, CA 94129
Phone: (415) 677-9500
Email: boom@boomplanning.com