1 December, 2018
Sports have become one of the most popular global activities, attracting the attention of millions of people. This growth is producing more and more powerful social icons that have considerable influence in society. Athletes serve as role models for the youth that follow the sport and admire their heroes.
Financial wealth and personal influence can be used towards positive social development and athletes have a long track record of aligning themselves with charitable causes, something that has become a standard, part of their endorsement deals, and an expectation with team management. An athlete’s influence or “endorsement” can quickly turn an otherwise unknown cause into an important, mainstream issue. Usually athletes that excel at the highest levels of sport have the platform and opportunity to be able to inspire, motivate, and leverage their celebrity to make a difference in causes and issues that are important to them.
This month we want to guide benevolent Money Smart Athletes in planning and creating tax efficient philanthropic strategies which align with their personal mission and the legacy they want to leave behind. Our advice to athletes is to support and donate to causes they believe in, strategically and/or through organized philanthropy, thus helping to build the kind of social capital and social finance that will last for generations.
Athena P. Constantinou