I don’t think any of us would be in this business if we didn’t believe that philanthropy, giving, the act of charity—no matter how humble—ennobles everything it touches.
But sometimes, even the noblest gestures can leave you scratching your head.
A Well-Intentioned Gift… to the IRS?
Recently, I came across a story that’s equal parts heartwarming, confusing, and—if we’re being brutally honest—tragicomic.
NBCMiami reports that James H. Davidson, Jr., a gentleman from Coral Gables, Florida, passed away in December 2011 at the age of 87. A man of means, he did something unusual: he left his house to the U.S. government to help pay down the National Debt.
The house was auctioned off for $1.175 million. In addition, Mr. Davidson left another $1 million in cash, bringing his total patriotic contribution to $2.175 million. That’s a generous gesture by any measure.
Still, I don’t know whether to laugh or cry.
The Road to China Is Paved With Good Intentions
Let me be clear: donors should make the gifts they want to make. Free will (no pun intended) is sacred in philanthropy. But here’s the reality: Mr. Davidson’s $2.175 million gift didn’t create a legacy. It was, to put it gently, vaporized.
Here’s why: our national debt is over $34 trillion. That’s trillion, with a “T.” And unless you’ve been numbed into submission by government spreadsheets, let me explain how vast that number really is.
If I gave you:
- $1 million, and you spent $1,000 a day, you’d run out in 2.7 years.
- With $1 billion, you’d last 2,738 years! So don’t ever compare millionnaires to billionnaires.
- And if I handed you $1 trillion, you could spend $1,000 a day for 2,737,851 years. That’s longer than humanity’s been upright.
So while Mr. Davidson’s heart was absolutely in the right place, his $2.175 million gift toward the National Debt is now, quite literally, a rounding error. A drop. In. The. Ocean. (Which, judging by current global finance, is probably off the coast of Beijing.)
What Could Have Been: A Legacy, Not a Receipt
Let’s say Mr. Davidson wanted to support fiscal responsibility and federalism. Here’s a thought:
- The James H. Davidson, Jr. Scholarship for Responsible Stewardship
- The James H. Davidson, Jr. Faculty Chair in Applied Macroeconomics
- The James H. Davidson, Jr. Lecture Series in 21st Century Federalism
Each of these could have been endowed in perpetuity. Education multiplies. Ideas ripple. And planned gifts are uniquely suited to launch those ripples.
Instead of making a patriotic drop in the debt bucket, Davidson’s name could have echoed for decades through lecture halls and grant-funded research.
Where Was the Trusted Advisor?
So here’s the big question: Where was the financial advisor or fundraiser when Mr. Davidson made this decision?
Because here’s what any savvy advisor should have said:
“Jim, your heart’s in the right place—but let’s make this count.”
It’s moments like these that underscore the power—and the responsibility—we have as advisors, fundraisers, and advocates for strategic giving.
Want to Avoid the Same Mistake?
You’re not alone if you’re unsure where to start. It turns out, most Americans are just as unprepared.
- Did you know that 68% of Americans don’t even have a will?
- And that nearly 40% believe estate planning is only for the wealthy? (source)
Let’s bust that myth. Estate planning and planned giving are not just for billionaires and Bond villains. In fact, modest gifts often have the most heart and the most lasting impact.
A Quick Note on Planned Giving
If you’re new to this concept, planned giving refers to making charitable gifts through your estate. It includes gifts in wills, trusts, real estate, stock, or retirement accounts.
It’s not complicated—but it’s often overlooked.
That’s why we’ve put together some essential Planned Giving Facts to get you started.
Final Thoughts: Don’t Let Your Legacy Disappear
Mr. Davidson’s heart was clearly in the right place. But the tragic truth is, his legacy evaporated.
What’s more heartbreaking? It didn’t have to.
The good news? It’s not too late—for you, for your donors, or for the causes you care about.
Because when giving is strategic, it doesn’t vanish into a government spreadsheet. It lives on, inspires, educates, and builds.
And that, my friends, is how you keep giving… giving.
