On August 7, 2023, the United States celebrated Purple Heart Day. Observed annually since 2014, the day is an opportunity to honor those who have been killed or wounded while bravely serving their country.
Leading up to Purple Heart Day 2023, the Purple Heart Foundation announced another way to honor the sacrifices of those who have served. A 501(c)(3) organization, the Purple Heart Foundation has worked since 1953 to raise funds for Purple Heart recipients and honorably discharged veterans as they transition back to civilian life
Through a newfound partnership with the Charitable Payraise (TCP), Purple Heart Foundation donors can potentially enhance their giving. Backed by a team of experienced financial professionals, TCP is committed to helping its clients “Do Well by Doing Good.” Drawing on the ROQS Method, TCP analyzes the assets of retired W-2 employees and works with them to turn the assets into tax-free cash flow.
The strategic partnership with the Purple Heart Foundation will enable TCP clients to leverage this cash flow to increase their charitable giving. In a statement, TCP head Bill Lloyd says that, as the son of two Marine officers, partnering with the foundation “means so much to him.” He describes the opportunity for TCP clients to grow their retirement savings while supporting veterans as a “win-win.”
The history of the Purple Heart medal dates back to the Revolutionary War, when George Washington presented three Continental soldiers with the Badge of Military Merit. The award fell out of use for 150 years but was revived in 1932 by Douglas MacArthur, who was then the US Army Chief of Staff, and renamed the Purple Heart.
Since then, nearly 2 million Purple Hearts have been awarded. These included more than 1 million during World War II alone. Because Purple Heart recipients are eligible for additional benefits on top of those offered to other veterans, and because it is believed there are many deserving veterans who have yet to receive the medal, the Purple Heart Foundation encourages all those who believe they qualify to apply.