Retirement strategies: Tax benefits and beyond At The Community Foundation, we regularly talk with retirement-age donors and fund holders about the tax benefits of Qualified Charitable Distributions and leaving bequests of IRAs to a donor-advised fund at The Community Foundation. But getting involved in philanthropy can be so much more than that for retirees and […]
For clients who may sell a business, the time to think charitably is right now Business owners who’ve enjoyed summertime’s more relaxed energy can deservedly daydream about the “extended vacation” that comes with selling the business! While it all sounds good, business brokers will tell you that many business owners fail to optimize—and they sometimes […]
Keep your eye on clients’ appreciated stock–always Such a difference a year makes–maybe!? By August 2022, markets were down 12% for the year and inflation was up 8.3% year-over-year. Perhaps consequently, but then unknown, annual charitable giving was on its way to a rare (fourth time in 40 years) year-over year decline of some 4% […]
Relief from catch-up requirements: More money for charitable giving? Legislation known as SECURE 2.0 contained a dizzying array of changes to the laws governing retirement plans. Passed at the end of 2022, SECURE 2.0 is 130 pages long; overall, its purpose is to encourage more retirement savings through vehicles like employer-sponsored 401(k) plans. Lately, the […]
Rethinking inherited IRAs As you build your estate plan and consider how to provide for your adult children, keep in mind that naming children as the beneficiary of an IRA or other qualified plan probably is not something that should be automatic. For starters, if you are charitably-minded and have other assets, such as highly-appreciated […]
Disaster relief efforts and the community foundation’s collaborative role Our hearts go out to the people of Maui—and all of Hawaii—in light of the tragic fires that occurred early in the month. By all accounts, those will take years, if not decades, to recover and rebuild from. Restoration costs are already estimated at $5.5 billion, […]
Helping your clients get organized: Structure is a critical step in multi-generational philanthropy Instilling the idea of charitable giving in children and grandchildren at first blush may appear to be easy, but where to begin, and how to make it ongoing? More and more, wealth advisors are being asked by their clients to weigh in […]
It’s (always) a great time to review your estate plan and legacy gifts Don’t forget that August is National Make-A-Will month. Even if your estate planning documents are already in place, this is still a good time to review your will, trust, and beneficiary designations to ensure that they still capture your financial and family […]
Like entrepreneurs, philanthropists inspire and innovate through their investments Despite the recently-announced decline in 2022 charitable giving, we continue to hear inspiring stories from you and other fund holders and donors. We’re also hearing from more and more individuals and families who are not yet fund holders that they’re very interested in establishing a donor-advised, […]
Legacy giving: A conversation that’s full of opportunity August is National Make-A-Will Month. This means your clients may be reading articles and hearing about estate planning more this month than usual, which makes the next few weeks an especially good time to prompt your clients to review their estate plans–or get their wills and trusts […]
The Community Foundation of Harrisonburg and Rockingham County (TCFHR) is pleased to share a new partnership with the Virginia Ready Initiative, a statewide nonprofit dedicated to convening credential-based learning opportunities to upskill Virginians for economic mobility. Their sunset operations plan for 2024 details an investment of their remaining $1.33 million+ funds into other Virginia nonprofits, […]
Summer reading that’s worth a forward Every week, the team at The Community Foundation works with a wide range of charitably-minded individuals and families who are either already working with The Community Foundation or are considering establishing a donor-advised or other type of fund to organize their giving. We also talk with attorneys, accountants, and […]
