Caragh Fahy

Olivia Poust

When Caragh Fahy, owner and president of Madison Financial Planning Group, was starting her career, her parents would send her $100 about twice a year. Their intent was not for her to keep this money; they instructed her to find someone who needed it without them knowing where it came from. This “quiet generosity,” as she describes it, has stuck with her ever since and guides her work and philanthropy.

“I had to find a lot of stealthy ways to slide envelopes under doors,” said Fahy.

Her giving spans between her personal and professional life and is best represented by the very name of her donor-advisory fund at the CNY Community Foundation.

To keep her gifts anonymous, Fahy named the fund after her sons’ favorite childhood stuffed animals. It was important to her to include her children in charitable works so they could better understand the issues in their world and community.

“I think it’s important for them to know that, yes, there are issues all over the world, but you have people right here that are also facing that kind of issue as well,” said Fahy. Now her sons are 20 and 17 years old, but the fund maintains a name that was originally given to a stuffed turtle and dinosaur.

“When my boys are older, it’s a way to draw them back to the Central New York area, if they happen to leave, and always give them that connection,” said Fahy.

Fahy’s work with the Community Foundation goes much further than her donor-fund; she serves on the board and operates as the finance chair.

“It’s very rewarding. We end up acting in the spirit of the community, coming together on certain causes, and really pooling the resources of many donors to make an impact,” said Fahy. “Rather than just sending your one-off donations here or there, it’s coming together as a community.”

Recently, the foundation has focused its efforts on addressing lead poisoning in Syracuse neighborhoods and supporting organizations that were impacted by the pandemic and needed extra assistance. In 2020, grants given to various organizations in the community totaled over $20 million.

Within the umbrella organization of the Community Foundation, Fahy chaired and worked on the board for the Women’s Fund of Central New York for about six years. This foundation, which operates on endowments, gives out approximately $40,000 each year in grants to organizations that support women and girls in the Syracuse community.

Even at Madison Financial Planning Group, Fahy brings service with her. She works to assist clients prepare for and transition into retirement, putting a particular focus on helping them to set and achieve their charitable goals.

Madison Financial Planning Group’s specialty is guiding clients through their retirement transition and continuing to work with them in the years to follow which offers natural opportunities to discuss their charitable goals, she said. “After raising families and understanding their own financial independence, our planning process provides clients the confidence to give back to their communities.”

In reflecting on her own childhood and her parenthood, Fahy noted the thread that runs through both. Her parents instilled in her a sense to do good unto others, which she taught to her children as they grew up.

“Raising my sons into charitable and kind adults… That to me is a pay it forward to our society in raising good children, raising children that are kind,” said Fahy.

In her eyes, this is her proudest accomplishment and best gift to the community. If this butterfly effect persists, more $100 bills may just be found slipping under the doors of unsuspecting neighbors, friends, and strangers. SWM

Caragh Fahy, with her two sons, Conor, left, and Declan.