I donate annually a percentage of my wealth in bulk due to religious reasons. In past years, I had donated to a local non-profit, though I'm not sure I like the way this NGO is spending this money. Now I'm wondering if there is a more sustainable way to make a difference in the world as the dollar amount I'm donating becomes larger.
In an ideal scenario, I'd like to put away a percentage of my income annually within a charitable trust of some kind where I have control over distributions. I'd be able to distribute a sustainable percentage of the principal (say 4%) on this trust annually to a cause of my choosing. Can anyone recommend such a vehicle? Or where I can get started with some research?
Considerations
- Annual donation amount between 5-10K this year
- Causes I care about: higher education, immigration
- Taxable event ideally on putting money into the vehicle vs. on distribution
- Expenses for operating vehicle
