Multigenerational charitable giving has become a cornerstone of many families’ philanthropic strategies. Professional advisors can be pivotal in guiding families through the complexities of this process. Professional advisors can also help chart a course that aligns with their client’s goals by fostering meaningful conversations among family members. At the Community Foundation, we partner with hundreds of financial advisors, CPAs, attorneys, …
From major life transitions to the small moments in between, financial advisors can be there for every step along the way. Many clients lean on financial advisors to seek guidance in growing their wealth for personal life experiences, but also to use it to better the world around them. Among the different types of charitable investment accounts available, donor-advised funds …
If you’re stepping into retirement, you might be asking yourself, “What’s next?” Many donors we meet at the Community Foundation already have their answer. They’re pivoting from their working years to their giving years. Some might establish a donor-advised fund. Others dedicate more time to volunteering. Those who are at least 70 ½ years old have another option, as they may …
It’s giving season! As we approach the end of the year, our team at the Greater Kansas City Community Foundation is all-in to help philanthropists establish new charitable funds, contribute to their funds and process year-end grants to nonprofits. Here are our tips for giving this year-end. Opening a New Charitable Fund at the Community Foundation We’re here to help …
A donor-advised fund is a charitable investment account that allows donors to organize and optimize their giving potential. Although donor-advised funds have been around since the 1930s, they have become the fastest-growing charitable giving vehicle in the United States in recent years. Let’s explore four key benefits that make donor-advised funds at the Community Foundation a popular choice for individuals, …
If you own a private company, you might have a long list of things that keep you up at night. After you tick through budgets, employees, customers and competitors, is your exit strategy at the bottom of the list? If you’re not a late-night worrier, maybe you spend your nights dreaming of retirement, knowing that you’re working hard now to …
For those with highly appreciated assets and a desire to receive an income stream while mitigating taxes and supporting a charitable organization, a charitable remainder trust (CRT) might be the solution. A CRT is a “split-interest” giving arrangement, allowing philanthropically minded people to support their charitable goals, yet they or their beneficiaries receive income from the trust. Once the distributions …
With a donor-advised fund or other charitable investment accounts, you can easily set aside gifts of cash and publicly traded securities for your immediate or long-term grantmaking. Our team at the Greater Kansas City Community Foundation is equipped to handle more complex gifts to donor-advised funds, too, which means you can consider your full financial portfolio for your philanthropy. In …
In part one of a two-part series on year-end giving on the Grow Your Giving podcast, Community Foundation Vice President and Corporate Counsel Corey Ziegler recently shared five strategies to consider for tax-efficient charitable giving in the last few weeks of the year. Corey discussed the following topics: The CARES Act IRA Qualified Charitable Distributions Bunching Donations in a Donor-Advised …
The CARES Act, signed into law on March 27, includes provisions that affect both individual and corporate donors. Specifically: 60% of AGI Limit Suspended for 2020 For the 2020 tax year, individuals can deduct any cash contributions made to qualified charitable organizations, up to 100% of their adjusted gross income (AGI). Deductions for cash donations were previously limited to 60% …
