We’re excited to share that Phoenix Hafen, Director of Advisor Solutions at UI Charitable, recently joined Dr. Rebecca White on The En Factor. Dr. White invited Phoenix to talk about something many entrepreneurs think about as their companies grow: the legacy they leave behind, both through their business and beyond it. The result is a practical, wide-ranging conversation about how to give more intentionally at every stage of the entrepreneurial journey.
About the Podcast
Dr. Rebecca White launched The En Factor in 2019 to “democratize” her research. After years of interviewing entrepreneurs for academic studies, she wanted to share their full stories, not just her findings, with a broader audience. The show features candid conversations with founders and the people who support them. It also ties into Dr. White’s newer work on entrepreneurial intelligence through her EI Lab.
Episode Highlights
Phoenix and Dr. White covered a lot of ground, including:
Why cash is the least tax-efficient gift. Phoenix explains how donating appreciated assets, such as stock, real estate, or business interests, lets donors take a deduction for the full value and avoid capital gains tax. He calls it one of the rare times the IRS allows a “double dip.”
Where charitable planning fits on an entrepreneur’s team. Alongside a CPA and a financial advisor, UI Charitable acts as the philanthropic pillar. About 80% of its work comes through partnerships with financial advisors.
Creative ways to use a donor-advised fund. Phoenix shares real examples: a donor who loaned working capital to a refrigerated trucking startup in Africa, so repayments flow back into his fund for future giving; a Silicon Valley donor who backs first-time venture fund managers as his way of giving back; and a donor who used his fund to buy an abandoned school and turn it into a community center.
Advice for nonprofits facing tighter funding. Phoenix encourages nonprofits to look beyond cash. In one case, a donor gave four greenhouses on rural land in Utah. UI Charitable accepted and sold them, the nonprofit received a sizable gift, and the donor got a meaningful deduction for an asset he didn’t know what to do with.
A personal side of philanthropy. Phoenix talks about how a hobby that started as a joke, birding, turned into real support for Great Salt Lake Audubon and its work to protect the shrinking Great Salt Lake.
Key Takeaways
Decide which assets to give, not just how much. Appreciated assets usually do far more than cash, for both the donor and the cause.
Plan before a big sale. Donating part of a business before it sells can maximize the tax deduction and set aside funds for years of giving.
Giving doesn’t have to be a grant. Loans, impact investments, and asset purchases can support causes while recycling dollars back into future philanthropy.
Nonprofits can unlock bigger gifts by asking differently. Donors who would never write a large check may gladly give real estate, business interests, or other “problem assets.”
Start early by finding what you care about. You don’t need to be wealthy to begin. Phoenix’s advice to young entrepreneurs is to explore the problems, places, and communities that matter to you, and to give time as well as money.
Why It Matters
Phoenix put it simply in the episode: “Entrepreneurs bring so much rigor and intentionality to their business... and I just don’t think that always carries over into philanthropy.” Helping close that gap is the heart of UI Charitable’s work. Whether we’re partnering with advisors, guiding individual donors, or helping nonprofits accept complex gifts, our goal is the same: generosity that’s as thoughtful and effective as the businesses our clients build.
Listen and Learn More
Listen to the full episode: The En Factor on YouTube
Explore more from The En Factor: drrebeccawhite.com/podcasts/en-factor
Learn more about UI Charitable: uicharitable.org
