What the Super Wealthy Know About the End-of-Year Donations

Many donors choose to give their last donations for the tax year before the cut-off to increase their tax deductions. All donations made before midnight on December 31st count!

On a recent episode on ¥€$ 3.0 Abundance and Wealth with Brandi Veil, a groundbreaking social audio podcast, featuring  “Spotlight Speakers and 3.0 Talks” about business transformation. The show is curated much like a mastermind and focus group combined for fintech investors, innovators, and thought leaders on entrepreneurship themed appropriately as ¥€$ 3.0. The focus group style interviews aim at financial literacy to assist in shifting mindset around 3.0 systems thinking and money consciousness.

I curated the show, to bridge the Web 2 and Web 3 worlds by humanizing the technology, solving problems we face in business and personal transformation as leaders. Money is always a topic that helps shift from old paradigms to new systems thinking. I say 3.0 is about the place of possibility, it’s not your home, work or school, it’s your community. It’s the 3rd place. By harnessing the power of 3.0 mindset we can support meaningful impact programs addressing humanitarian challenges. End of year donations can support many programs including (SDG) Sustainable Development Goals, while adding tax-benefits to the wealthy who desire to make a difference in the world. 

In our spotlight discussion the topic of end-of-year giving, we unravel the secrets of the super-wealthy. Episode 16 explores crucial insights on Wealth 3.0 end-of-year tax benefits, philanthropy strategies, and the art of impact investing. Elevate your financial wisdom with concise, expert discussions. Enjoy.

Navigating Year-End Giving in Web 3.0: A Guide to Crypto Philanthropy

As the calendar approaches its final pages for the year, the cryptic world of Web 3.0 beckons us to explore not just financial literacy, and personal growth but also the avenues of philanthropy and savvy tax planning. In a recent episode of “Yes 3.0: Wealth and Abundance with Brandi Veil,” a dynamic panel of experts unpacked the intricacies of year-end giving within the realms of cryptocurrencies, NFTs giving, and Web 3.0 technologies. Weekly I delve into the insights and advice offered by Web 3 and philanthropic thought leaders and experts, providing a roadmap for navigating tax donations in this revolutionary era.

Our conversation begins with what I call an “emerge-n-see” conversation around the opportunities and challenges inherent in fractional ownership (NFT) platforms, especially concerning the sale of art and art donations of digital twins. I recall an Alan Teitel, a two-time Emmy Award winner, NFT digital artist, and philanthropist sharing his experience, saying, “It was a bit of a challenge when we were looking at NFTs and in selling them for donation. What I had set up was a package of about 150 pieces of art, selling them for over a million dollars, with 85% of the funds going directly to the non-profit.” This narrative encapsulates the delicate dance between the desire to contribute and the practical complexities presented by NFT platforms. I can empathize with the beginning of something that looks and sounds great and as a consultant, I contest having the pioneering factors of transparency and reality set in. The technology and startup nature of unregulated platforms created opportunities for “doing business the old way” or in other words the Web 2 way when it came to tax-benefit donation. 

The conversation effortlessly transitions to the intersection of Web 3.0 technologies and philanthropy. A recurring theme surfaces—the critical need for a profound understanding of legal and tax intricacies in this domain. The speakers unanimously stressed the importance of precision, emphasizing that every transaction should be accompanied by a tax deduction receipt and the oversight of legal advisors. “I think what’s happened in the Web 3 space is people get confused, and then regulators come in. It’s either a security or it’s a utility. And we’re still in the middle of that, especially here in the US.” says Adryenn Ashley of Award-winning Film/TV – Creator/Host @MintingFuture and weekly co-host on Yes 3.0 Network.

Broadening our discussion with opportunity and positivity, one who wants to make a difference using impact donations can start to learn more about the traditional end-of-year giving with impact real estate, and art impact funds supporting charitable organizations, like The Giving Block while pursuing blockchain partnerships for transparent and royalty distribution to artists and non-profits. The area of impact donations on the blockchain is relatively new, however, it’s a growing industry that has the potential to shift behaviors around end-of-year donations. As of now, I am closely observing the market as the regulation and tax benefits will be determined by new laws determining digital art donations. In the meantime, many groups are exerting USDC and USDT as well as standard non-cash contributions. Non-cash contributions can include securities, property, vehicles, collectibles, and art are all up for reevaluation in the new world of philanthropy. Every day is a new and exciting day, bridging regulation laws, Defi, and the world of Web3! 

Blockchain Creates, a Trusted Network

Using blockchain to enable end-of-year giving and transparency and create the digital paper trail one may need to streamline your tax benefits in the “high-tech, low-tech” era of charitable giving. I am not a financial advisor, nor a CPA, be sure to consult your legal advisors. 

The governing body and Web 3 don’t always get along, as you may have noticed. It’s now, after approximately 15 years, give or take, that governments are starting to identify the importance of blockchain  and charitable giving is not left out. 

1. The Transformative Potential of Blockchain Technology, Trust and  Philanthropy

As we move into a deeper dialogue on structuring and comprehending insurance and business structure elements to secure your end-of-year giving, “Trusts, they assert, play a pivotal role in effective asset management, helping navigate the intricacies of insurance policies and annuities.” adds Marvin Epstein of Karma International and Managing Partner, Beverly Hills Publishing.

The transformative potential of blockchain technology in philanthropy takes center stage, in business structure. Blockchain’s attributes—transparency, immutability, and decentralization—play critical roles in bolstering trust within philanthropic organizations. The discussion brings to light how blockchain facilitates real-time tracking of donations, curtails fraud, and enables seamless cross-border transactions. “As a decentralized and borderless platform, there are ways for you to leverage your assets even in another country.”

2. Wealth Strategy: Art Investing Wealth Strategy and Benefits 

Fractional art investing (not web3, not donation) occupies a prominent position in our narrative, shedding light on the democratization of access to blue-chip art. Platforms such as Masterworks are spotlighted, offering individuals the opportunity to invest in diversified portfolios featuring collections of renowned artists. Masterworks is a legitimate alternative investing platform that makes blue-chip artwork more accessible.”There are few groups out there that are allowing us to go into what they’re calling the diverse and historical shift in blue-chip art investing.” a guest of the show asserts.

3. Compound Interest Strategy

Our narrative pivots to the sagacity shared by Associate Director at Success in Living John Donnelly regarding the potency of compound interest. Generating “interest on interest” is known as the power of compound interest. His emphasis on the potential for long-term growth through understanding and harnessing the compounding effect resonates deeply. Drawing from personal experience, John shares, “I’ve now learned the power of compound interest. I’ve just become a granddad and I can now invest two and a half thousand pounds. And in 18 years, my granddaughter will be a multimillionaire through the power of compound interest.”

Dan Goodwin, representing CYA Consulting, encapsulates the ethos of prudent wealth management. His parting words echo with resonance, urging individuals to cover their assets, actively curate them, and formulate plans for their circulation. “Cover your “ass”ets.” That’s to protect yourself as you grow. The second is to curate your assets; what we’re talking about actively doing. And then the third is how you plan to circulate,” providing a blueprint for conscientious financial stewardship.

As we stand on the precipice of the year’s end in 2023, the insights unveiled in here and on our weekly ¥€$ 3.0  episodes underscore the significance of informed philanthropy and strategic financial planning in the ever-evolving world of Web 2, Web 3.0, and cryptocurrencies. Navigating this terrain necessitates a fusion of technological acuity, legal advice, and a commitment to responsible wealth-building and financial literacy—a journey promising both personal fulfillment and a positive impact on a global scale. 

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About Spotlight Series

¥€$ 3.0 Spotlight Series featuring innovative thought leaders in their industry. Spotlight speakers can speak on several touch points in an emergent conversation about the abundance and  wealth available in our economy. The concept behind ¥€$ 3.0 social audio podcast is about emergence. Emergent conversation allows for co-creative, insightful discussion about problems and solutions, humanity, and conscious capital through technology.

CEO, Web3 Strategist, Author, and Host of ¥€$ 3.0 Abundance and Wealth Podcast: As the President CEO of Being Investments and a Web3 strategist, Brandi Veil leads the charge in shaping the future of education and technology. She is a global advocate known for her role as an international spokeswoman for EdTech and Learning and Earning initiatives. She is also the producer and host of ¥€$ 3.0 Abundance and Wealth Podcast, featuring thought leaders developing the new economy.”