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Frequently Asked Questions
What is Shared Prosperity Group?
We’re a wealth management firm designed to actively fight wealth inequality. While the financial industry often results in money concentrating at the top, we focus on doing the exact opposite. Our core mission is to help systematically reallocate wealth to the communities needing it most, uplift human lives, protect the planet, and pressure our competitors to do the same. We have a short video on our YouTube channel describing our mission in more detail, you can check it out right here.
What is "Structural Generosity" and how do you choose which nonprofits to support?
Structural generosity is what we call our permanent giving model. It means generosity is hardwired into the core of a for-profit organization (where most wealth generation occurs in America). To meet this standard, a business must make five sincere commitments:
- Make it Permanent: The giving pledge must be irrevocably written into the firm’s formal governing documents.
- Absolute Transparency: All giving claims must be publicly disclosed as a clear percentage of total gross revenue or net profit.
- Substantial Impact: High margin industries (like wealth management, software, or pharmaceuticals) must donate a minimum of 5% of their gross revenue every year. Low margin industries (like grocery stores or restaurants) must donate at least 5% of their net profit.
- Independent Giving Vehicle: The pledged capital must be completely separated from the business owners through an independent donor-advised fund (DAF).
- No Forever Parking: Capital cannot just sit idle in the DAF. All deposits must be fully deployed to a charitable cause within one year.
Even with these strict rules in place at SPG, we certainly don’t just give our money away on a hunch. With almost two million nonprofits out there, we follow a highly disciplined process to help maximize the impact of every dollar we give. We have a short YouTube video introducing our giving methodology, and you can watch it right here.
How is Structural Generosity different from new taxes?
Structural generosity offers a practical alternative to the grueling work of changing tax laws. Shifting American tax policy is incredibly difficult. Even when a change makes obvious sense (like using our vast prosperity to help our own communities), it demands persuading millions of voters, winning elections, and fighting through intense lobbying and partisan gridlock. When new laws actually do pass, they’re often slow to take effect, heavily contested, and easily reversed. That makes tax reform an unreliable tool for creating urgent, lasting fairness, as it relies on a level of political coordination our system rarely achieves.
By contrast, structural generosity doesn’t wait for permission from a massive political machine. You don’t need a unified government or a perfect national consensus to make it work. It builds on a simple foundation most of us already agree on: We want healthier, happier, and more prosperous communities where everyone has genuine access to opportunity. And we’d prefer not to support organizations that get in the way of those ideals if given the chance.
In the real world, structural generosity works by making giving an effortless, automatic part of building wealth. It isn’t a rare moral victory from some billionaire or a legislative battle. It’s voluntary, consistent, and inspired by the values of those we serve. It can also scale rapidly as more people and companies join in, entirely bypassing the bottleneck of Congress.
Why do you use a DAF instead of giving directly to charities?
We’d love to just write checks directly to the causes we support. However, publicly pledging a portion of our revenue to charity triggers complicated and different legal rules in all 50 states. If we gave directly, we’d drown in expensive legal paperwork. And it doesn’t stop there. It would also force the nonprofits we support to sign complex legal agreements just to accept our donations. That completely defeats the purpose of trying to help them.
By routing our 10 percent pledge through a donor-advised fund, we cut out all that red tape. The DAF handles the legal compliance and guarantees the funds are permanently locked in for charity. This keeps things simple for us, and most importantly, it spares the nonprofits from an administrative nightmare so they can focus on their actual work.
Do I get a tax deduction from SPG's giving?
No. Our donations come directly out of the revenue our firm earns from the services it provides, not out of your personal account. Your portfolio stays exactly as it is, your returns are completely untouched, and every single charitable dollar is paid by SPG alone.
This is very different from the usual industry model. We don’t ask or expect our clients to donate. We give at the business level instead. If you’re looking for personal tax deductions, you can absolutely still make your own separate charitable gifts. We’re not here to replace your philanthropy, we’re here to amplify it.
Will SPG’s giving model ever increase my fees or reduce my returns?
Absolutely not. Our charitable giving model will never raise your fees or reduce your investment returns. We intentionally structured our business to prevent that exact scenario. Your financial interests always come first. While our philanthropic mission is a core part of who we are, it will never override our primary fiduciary duty to manage and protect your wealth.
How fast can I get started?
We’ve made getting started quick and easy. Our application takes less than 20 minutes to complete and we usually approve new accounts within 24 business hours. Once you’re approved, most account transfers are finished and you’ll be fully invested in under two weeks.
What are your services and how much do they cost?
We’ve put together a short video on our YouTube channel that breaks it all down. It explains exactly what we do for our clients and how our straightforward pricing works. You can watch it right here.
What kind of accounts can you manage?
We can help you manage almost any type of standard investment account. Whether you’re investing for yourself, your family, or your business, we’ve got you covered.
For individuals and families, we manage:
- Individual and joint accounts
- Trusts
- All types of IRAs (Traditional, Roth, Rollover, SEP, SIMPLE, and Beneficiary)
- Solo 401(k)s and Roth Solo 401(k)s
- Custodial accounts for minors (UTMAs, UGMAs, and Minor IRAs)
For businesses and nonprofits, we’re equipped to manage:
- Sole Proprietorships and Partnerships
- LLCs and Single-Member LLCs
- S Corporations and C Corporations
- Non-Profit Organizations
Please note: We manage your investments and provide ongoing financial advice. We don’t currently handle initial plan setup, legal paperwork, tax filings, or payroll. You’ll still want to work with your own tax or legal professionals to take care of those specific administrative tasks.
What is “The SPG Structural Generosity Fund?”
That’s the name of our specific donor-advised fund (DAF) at Charityvest. Think of a donor-advised fund as a dedicated investment account just for charitable giving. When we put money into this account, it’s officially and permanently committed to charity. While it sits there, the money can be invested so it grows tax free.
However, we don’t let it sit for long. We distribute all funds in our account to charities in under one year from the date of deposit. It’s a great tool because it lets us set aside our charitable funds immediately, handle all the legal compliance smoothly, and then quickly deploy that money to the exact organizations we want to support.
Can I donate to SPG's DAF?
No. The SPG Structural Generosity Fund is strictly set up for our firm’s revenue. However, that doesn’t mean you can’t support the same causes we do! If you want to give to the nonprofits we support, you would simply make your contribution directly to them (usually through their website). Making a personal donation is actually much easier and requires far less headache than donating as a wealth management business.
Do you take a tax deduction for your charitable giving?
Yes, we absolutely do. It’s a common misconception that businesses somehow make money by donating, but that just isn’t true. When we donate a dollar, we might save a fraction of that in taxes, but we’re still voluntarily giving away the vast majority of that dollar.
We take the deduction because it’s the smartest way to support our mission. Keeping those tax savings in the business allows us to grow. And the more we grow, the bigger our 10 percent pledge becomes. That means we can direct even more money toward causes that uplift human lives and protect the planet. Ultimately, taking the deduction is about maximizing our impact, not minimizing our taxes.
How is SPG able to stay in business while giving so much of its revenue away?
It helps that our line of business naturally has high profit margins to begin with. We take that advantage even further by running a highly efficient and clever operation from the start. For example, we don’t pay for expensive downtown office space, our entire team works remotely, and we use smart software to handle routine administrative tasks. Business practices like these keep our overhead low and significantly minimizes our carbon footprint.
Because our internal costs are so efficient, our profit margins become even healthier. That means we’re able to charge a competitive 1% fee and still comfortably donate 10% of our gross revenue to nonprofits every month without compromising our service.
Where can I find more pictures of Mitzi?
We probably should have made this question the first one on this FAQ. Sorry about that! Enjoy. 🙂