Philanthropy or Charity

PHILANTHROPY

OR CHARITY

According to the Dictionary, charity and philanthropy are two different things.

CHARITY Charity is the voluntary giving of help, typically money, to those that are suffering or in need. It tends to address an immediate problem and is a compassionate response to a natural disaster, or a token of support for the victim of crime or violence, for example. Charity can also address immediate needs for food, shelter or medical care. It is a short term response, although one may give frequently to a particular cause. PHILANTHROPY Philanthropy is more strategic in that it seeks to root out causes of the problem and to develop long term solutions. Striving for long term solutions to problems such as addiction, housing shortages, or hunger takes time, study, and planning. This is where charity comes in, providing direct relief for people in immediate need.

Both charity and philanthropy possess the same goals of addressing needs and making the world a better place but with different approaches. One deals with direct relief and the other with root causes and finding solutions.

Is one better than the other? Of course not! They are just two different ways of solving problems and both are essential to the functioning of a decent society.

Recently, there have been changes to the tax code regarding charitable giving.

Three Acts have been passed recently - The Tax Cuts and Jobs Act of 2017 (TCJA), the Setting Every Community Up for Retirement Enhancement Act (SECURE) and the Corona Virus Aid, Relief and Economic Security Act (CARES). All have some impact on deductibility of charitable contributions. They also may offer some additional advantages. For example, a qualified charity may receive your IRA with no tax consequences since charities do not pay taxes. Appreciated assets are also beneficial as a gift to a charity, as capital gains tax can be avoided.

Another way to contribute is through a community foundation, which is a grant making public charity that is dedicated to improving lives in a particular community. Individuals, families, businesses and non-profit groups establish funds within the foundation in which they can contribute assets for charitable purposes. The foundation manages the assets and takes suggestions from those that set up the fund on how and where to distribute the resources. There are over 700 community foundations in the United States.

Whether one chooses charity or philanthropy, the ultimate goal is to help the community by using personal skills and resources to make a difference.

2021 LPGA TOURNAMENT

SCHEDULE

* Schedule subject to change

DATES TOURNAMENT PURSE DEFENDING CHAMPION

AUG 26-29 CP Women's Open Shaughnessy G&CC - Vancouver, BC $2,350,000

SEP 4-6 Solheim Cup Inverness Club - Toledo, OH SEP 16-19 Cambia Portland Classic Columbia Edgewater Country Club - Portland, OR $1,400,000 Georgia Hall

SEP 24-26

Walmart NW Arkansas Championship pres. by P&G Pinnacle Country Club - Rogers, AR OCT 1-3 ShopRite LPGA Classic pres. by Acer Seaview Hotel and Golf Club - Galloway, NJ $2,300,000 Austin Ernst

$1,750,000 Melissa Reid

OCT 7-10 Founders Cup Mountain Ridge C.C. - West Caldwell, NJ

OCT 14-17 Buick LPGA Shanghai Qizhong Garden Golf Club - Shanghai, China $1,500,000

$2,100,000

OCT 21-24 BMW Ladies Championship LPGA International Busan - Busan, South Korea $2,000,000

OCT 28-31

Taiwan Swinging Skirts LPGA Miramar Golf Country Club - Taipei, Taiwan NOV 4-7 TOTO Japan Classic Seta Golf Course - Shiga, Japan NOV 11-14 Pelican Women's Championship Pelican G.C. - Belleair, FL NOV 18-21 CME Group Tour Championship Tiburon Golf Club - Naples, FL $2,200,000

$2,000,000

$1,750,000 Sei Young Kim

$5,000,000

2022 PGA TOURNAMENT

SCHEDULE

* Schedule subject to change

DATES TOURNAMENT JAN 6 - 9, 2022 JAN 13 - 16, 2022 JAN 20 - 23, 2022 JAN 27 - 30, 2022 FEB 3 - 6, 2022 FEB 10 - 13, 2022 FEB 17 - 20, 2022

FEB 24 - 27, 2022

MAR 3 - 6, 2022 Sentry Tournament of Champions Plantation Course at Kapalua, Kapalua, Maui, HI Sony Open in Hawaii Waialae Country Club, Honolulu, HI The American Express PGA WEST (Stadium), La Quinta, CA Farmers Insurance Open Torrey Pines (South), San Diego, CA AT&T Pebble Beach Pro-Am Pebble Beach Golf Links, Pebble Beach, CA Waste Management Phoenix Open TPC Scottsdale, Scottsdale, AZ The Genesis Invitational The Riviera Country Club, Pacific Palisades, CA The Honda Classic PGA National (Champion), Palm Beach Gardens, FL Puerto Rico Open Grand Reserve Country Club, Rio Grande, PUR

MAR 3 - 6, 2022

MAR 10 - 13, 2022

MAR 17 - 20, 2022

MAR 23 - 27, 2022

MAR 24 - 27, 2022

MAR 31 - APR 3, 2022

APR 7 - 10, 2022 Arnold Palmer Invitational presented by Mastercard Bay Hill Club & Lodge, Orlando, FL THE PLAYERS Championship TPC Sawgrass, Ponte Vedra Beach, FL Valspar Championship Innisbrook Resort (Copperhead), Palm Harbor, FL World Golf Championships-Dell Technologies Match Play Austin Country Club, Austin, TX Corales Puntacana Resort & Club Championship Corales Golf Course, Punta Cana, DOM Valero Texas Open TPC San Antonio (Oaks Course), San Antonio, TX Masters Tournament Augusta National Golf Club, Augusta, GA 2022 PGA Harris English $1,340,000 Kevin Na $1,188,000 Si Woo Kim $1,206,000 Patrick Reed $1,350,000 Daniel Berger $1,404,000 Brooks Koepka $1,314,000 Max Homa $1,674,000 Matt Jones $1,260,000

Branden Grace $540,000 Bryson DeChambeau $1,674,000 Justin Thomas $2,700,000 Sam Burns $1,242,000

Billy Horschel $1,820,000

Joel Dahmen $540,000 Jordan Spieth $1,386,000 Hideki Matsuyama $2,070,000

2022 PGA TOURNAMENT

SCHEDULE

* Schedule subject to change

DATES TOURNAMENT APR 14 - 17, 2022 RBC Heritage Harbour Town Golf Links, Hilton Head, SC

APR 21 - 24, 2022

Zurich Classic of New Orleans TPC Louisiana, Avondale, LA APR 28 - MAY 1, 2022 Mexico Championship MAY 5 - 8, 2022 Wells Fargo Championship TPC Potomac at Avenel Farm, Potomac, MD

MAY 12 - 15, 2022 MAY 19 - 22, 2022 MAY 26 - 29, 2022 JUN 2 - 5, 2022 JUN 9 - 12, 2022 JUN 16 - 19, 2022 JUN 23 - 26, 2022 JUN 30 - JUL 3, 2022 AT&T Byron Nelson TPC Craig Ranch, McKinney, TX PGA Championship Southern Hills CC, Tulsa, OK Charles Schwab Challenge Colonial Country Club, Fort Worth, TX the Memorial Tournament presented by Workday Muirfield Village Golf Club, Dublin, OH RBC Canadian Open St. George's G&CC, Toronto, ON, CAN U.S. Open The Country Club, , Travelers Championship TPC River Highlands, Cromwell, CT John Deere Classic TPC Deere Run, Silvis, IL 2022 PGA Stewart Cink $1,278,000 M. Leishman / C. Smith $1,069,300

Rory McIlroy $1,458,000 K.H. Lee $1,458,000 Phil Mickelson $2,160,000 Jason Kokrak $1,350,000 Patrick Cantlay $1,674,000 Rory McIlroy $1,368,000 Jon Rahm $2,250,000 Harris English $1,332,000 Lucas Glover $1,116,000