Dolly Parton is not just an international superstar; she is one of the most philanthropic celebrities in the world. While very few of us will ever have her wealth or fame, we can emulate some of her passion to do good. She has lessons to teach all of us about embracing philanthropy and being strategic in charitable giving. If you are inspired to give, this is a good time to think about making large gifts as there are various tax benefits, even if your donations are far below Dolly Parton’s.
Parton’s Charitable Giving
In the 1980s, Dolly Parton began focusing her philanthropic endeavors on initiatives in her home state of Tennessee. Her father was illiterate, and for many years, she concentrated her efforts on improving literacy and graduation rates in Tennessee. Her initiatives included yearly scholarships and a program where middle school students were paired with a buddy. If both students graduated high school, they were each entitled to $500. This drastically increased the graduate rate.
The overarching structure of Parton’s giving is the “Dollywood Foundation.” Over the years, the foundation has taken on several different initiatives including hospitals, animal sanctuaries, and scholarships. She even donated $1 million towards COVID-19 vaccine research.
Her philanthropy has attracted big donors. In November 2022, Jeff Bezos donated $100 million to the Dollywood Foundation. The funds can be used to donate to charities of the foundation’s choice or to continue Parton’s own charitable work.
Benefits of Charitable Giving
Most people donate to charity to help others or further a cause that is important to them. However, there are also important estate planning benefits to charitable giving.
For example, assets placed into a charitable trust can help avoid estate taxes. A charitable trust also allows you to provide continuous gifts to the charity and can be structured to give you some power to control distributions and how the funds are used. You may also want to consider other strategies, such as Donor Advised Funds and private foundations for other benefits.
You can also make a charitable bequest in a will. This would be a one-time bequest, but any gift to a charity will be estate tax-exempt.
Your Charitable Giving Plan
The primary lesson of Dolly Parton is that if you want to donate to charities, consider what causes are really important to you. She is very thoughtful about where she gives her money. There are charities that focus on just about any type of problem, from poverty to diseases, education to the environment. No matter how much you have to donate, you can find somewhere to donate that will do good and be meaningful to you.
If you are looking for help establishing your own giving strategy, we can advise you regarding the best way to structure your charitable giving to achieve your goals and benefit your overall estate plan. Contact us for a consultation.
FAQs
The primary lesson of Dolly Parton is that if you want to donate to charities, consider what causes are really important to you. She is very thoughtful about where she gives her money. There are charities that focus on just about any type of problem, from poverty to diseases, education to the environment.
What are Dolly Parton's contributions to Tennessee discuss? ›
Parton originally launched the organization in her home county of Sevier County, Tennessee, with the goal of decreasing high school drop out rates. She then started the Buddy Program, in which Parton gave $500 to every seventh and eighth grader who finished high school.
How much is Dolly Parton donated to charity? ›
In 2020, she donated $1 million to Vanderbilt University's coronavirus research, which helped create Moderna's Covid-19 vaccine. In 2021, she raised $700,000 to help victims of flooding in Tennessee. Now, the 76-year-old singer-songwriter has another $100 million to give to any charity of her choice: On Nov.
What did Dolly Parton advocate? ›
Parton has advocated for the preservation of bald eagle, the national bird of the US, by partnering with the American Eagle Foundation to have a sanctuary at Dollywood, her theme park. She was awarded the Partnership Award by the US Fish and Wildlife Service in 2003 for her efforts.
How did Dolly Parton help education? ›
In 1991, a few years after the launch of DWF, Parton started the Buddy Program, where students in 7th and 8th grade were asked to “buddy up” with another student, with the promise of $500 if they both successfully graduated. Dropout rates for these two classes fell from 35 per cent to six per cent!
What did Dolly Parton do for charity? ›
The overarching structure of Parton's giving is the “Dollywood Foundation.” Over the years, the foundation has taken on several different initiatives including hospitals, animal sanctuaries, and scholarships. She even donated $1 million towards COVID-19 vaccine research. Her philanthropy has attracted big donors.
What is Dolly Parton's legacy? ›
With a career spanning over fifty years, Parton has been described as a "country legend" and has sold more than 100 million records worldwide, making her one of the best-selling music artists of all time.
Could Dolly Parton be a billionaire? ›
Is Dolly Parton a billionaire? Due to the fact that Dolly Parton has a net worth of $650 million, she is not a billionaire. However, it has been speculated that the singer could have achieved billionaire status if she were not so generous with her money, constantly investing in many philanthropic endeavors.
What billionaire gave Dolly Parton money? ›
Singer-songwriter Dolly Parton is the latest celebrity to receive a $100 million gift from Amazon founder Jeff Bezos, to be used for charitable purposes. Parton is seen here at the recent Rock and Roll Hall of Fame induction ceremony in Los Angeles.
What makes Dolly Parton inspirational? ›
Parton's progressive lyrics and her willingness to speak out despite potentially adverse consequences made her stand out among female performers. Speaking her mind and her heart has been one of the strongest characteristics of Parton's work and has won her fans, both male and female, internationally.
Did Dolly have a stroke? ›
A: No, there is no validity to the rumors suggesting that Dolly Parton has had a stroke. She remains in good health.
What struggles did Dolly Parton have? ›
In 1984, Dolly was diagnosed with uterine cancer. A routine surgery would prevent the spread of the disease, but it would be emotionally challenging for Dolly. She underwent a hysterectomy, which meant that she would never be able to have children.
What did Dolly Parton believe in? ›
The singer, who is Christian, has written religious songs in the past and pointed to her faith in discussions about her charitable giving. “I don't want to be worshiped, because there's a scripture in my Bible that talks about idol worship. And I see that happening all the time with movie stars and these celebrities.
Does Dolly Parton have a PHD? ›
On May 8, 2009, Dolly was awarded an honorary doctorate by the University of Tennessee in, Knoxville. She received only the second honorary doctorate ever awarded by the school in Humane and Musical letters.
What contributions did Dolly Parton make to country music? ›
Over her 50+ years in the industry, she has had 25 songs reach No. 1 on the Billboard country music charts (a record for female artists that she shares with Reba McEntire), 41 Top 10 country albums (a record for any artist), and has had 110 charted singles.
Was Dolly Parton from Tennessee? ›
Dolly Rebecca Parton was born into a large family, the fourth of twelve children, on January 19, 1946, in Locust Ridge, Tennessee. She came from deep in Appalachia, where music was an integral part of life for those who, like the Partons, struggled to make a hard living.
What did Tennessee contribute to the music industry? ›
The roots of popular music may be found in every pocket of the southeastern United States, but Tennessee has been, and remains, critical to the development and commercialization of popular music. Country, bluegrass, blues, southern gospel, and rock 'n' roll, all trace their roots directly to the Volunteer State.
Why did Dolly Parton create Dollywood? ›
In 2010, Parton said she became involved with the operation because she "always thought that if I made it big or got successful at what I had started out to do, that I wanted to come back to my part of the country and do something great, something that would bring a lot of jobs into this area."
