A life's worth of experience behind him, a lifetime of giving ahead

Giving comes naturally to Matt Tifft.

His parents, Quinten and Vicki, made fighting disease in developing countries their life’s work, founding a successful clinical research organization focused on developing vaccines, pharmaceuticals and medical devices in the mid ’90s.

When the Tiffts sold their company 20 years later, they used the success of their business as a catalyst to begin tackling global health crises from another angle – through charity.

“Philanthropy has always been a touchpoint for them,” said Dominic Ruby, the Tiffts’ financial advisor. “One of their goals has been to show Matt and his siblings that giving is a big part of success.”

Matt always knew giving would be an important part of his life, too, but as he pursued his childhood dream of being a racecar driver, he wasn’t attached to any one cause.

A talented driver, Matt quickly climbed the ranks and was racing in the NASCAR Xfinity Series when he began experiencing headaches and other neurological abnormalities. He saw his doctor for what he thought were symptoms of a concussion he sustained during a crash. Instead, he was diagnosed with a brain tumor – a low-grade glioma that had not yet turned cancerous. He was 20.

Feeling big and small at the same time

“It was very doom and gloom,” said Matt. “I thought my career was over. I was having these functional MRIs done to see where my brain lit up when I moved my eyes or my hands to make sure they didn’t poke the wrong area and I’d wake up unable to talk after surgery. That was the reality of it.”

Then something happened that changed Matt’s outlook. When he shared his diagnosis on social media, he received an outpouring of support from fans and people within the brain tumor community. People – some with terminal diagnoses themselves – were reaching out to say they were inspired by him.

“I was hearing stories of people who had it far, far worse than me, and I thought, this is backwards,” said Matt. “These folks are cheering me on despite what they were going through. It really shifted my perspective. I felt so small and so big at the same time.”

He had found his cause.

“Any neurological condition is tough. The damage it does to your brain and your body – there’s just not much understanding, and the brain tumor community doesn’t get a lot of press.”

Matt connected with the American Brain Tumor Association and traveled to Washington, D.C. to advocate for brain tumor research.

“I’m hopeful that we’ll be able to find more cures – a faster way to diagnose, a way to perform cleaner surgeries,” he continued. “So many things have come up in the last ten years, it’s exciting to think about where we could be ten years from now.”

Identifying the right vehicle for giving

Matt got back to racing once he was cleared by doctors, but an epileptic seizure knocked him off course again. Sidelined, he dove into the business side of racing, eventually becoming the owner of a NASCAR team.

While he enjoyed the work, he realized his true passion was being in the driver’s seat. After a couple of years, he made a successful exit.

“We’d have conversations about running the business and his long-term plan,” said Dominic, “and philanthropy was always going to be a part of it. So when we were heading toward an exit, we talked about the options – a private foundation, charitable remainder trust, or donor advised fund (DAF).”

In the end, they established a DAF, which enables Matt to support many different causes with a favorable tax deduction and less hassle than a private foundation.

“Five years from now we may find a new cause that speaks to us,” said Matt. “The donor advised fund gives us the flexibility to deploy funds to different causes easily.

“It’s hard when you get stuck with one goal. Having people run your nonprofit really limits you. The DAF setup – the tax planning, the ease of giving – it’s a big deal. I don’t think I’d be able to give as much or look at so many different opportunities without it.”

Focusing on family — and the future

Now 28, Matt is back on the racetrack, after many years of good health, at the urging of his wife, Jordan. The couple welcomed a baby boy earlier this year.

After being faced with fertility issues, they went through the IVF process – a cause that has become near and dear to his heart. “We’ve heard about so many couples who struggle with infertility, and IVF costs $30,000 to $60,000 or more,” said Matt. “That’s important to us as we look toward where we want to be philanthropically in the future.”

Dominic is eager to participate in those discussions. “As we go through these ups and downs, I learn more about Matt and Jordan, which enables me to bring more things to the table that would make sense for them,” he said. “There’s so much satisfaction in seeing your clients accomplishing financial goals, living the life they want and making a difference.”

But for now, Matt continues to focus on the brain tumor community.

“I don’t want anyone to have to go through what I went through,” he said. “I think the reason I’m okay and here today is because I was meant to be a voice for those people.”

Find Matt online at https://www.matttifftracing.com/ or @Matt_Tifft.

AMERICAN BRAIN TUMOR ASSOCIATION

In 1973, Susan Netchin Kramer and Linda Gene Goldstein – both mothers of children with brain tumors – founded the American Brain Tumor Association (ABTA). Based in Chicago, the organization is committed to funding brain tumor research and providing comprehensive resources to support the complex needs of patients, caregivers and their loved ones. ABTA’s mission is to advance the understanding and treatment of brain tumors with the goals of improving, extending and ultimately saving the lives of those impacted by a brain tumor diagnosis.

Learn more at abta.org.