
- March 16, 2023
Private foundations and donor-advised funds: Debunking three myths
If you’ve been involved with charitable giving for a few years, you’ve no doubt become familiar with both private foundations and donor-advised funds and their popularity as charitable giving tools. As is often the case with tax and estate planning-related topics, the differences between private foundations and donor-advised funds are sometimes the subject of confusion and misunderstanding. As yo…
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- March 16, 2023
It’s not luck… It’s because of you and this community!
With St. Patrick’s Day right around the corner and the old sentiment “Luck ‘O The Irish,” I came across an article talking about where success originates. Is it luck…serendipity…or hard work? Quite the question to ponder when one looks back on where you’ve been. I feel so fortunate to be a part of the FM Area Foundation. This organization is the largest and oldest community foundation in our r…
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- March 16, 2023
Chris Barta Joins Board of Directors
The FM Area Foundation is pleased to announce that Chris Barta has joined its Board of Directors. Chris Barta is the Senior Director of Operations for Marvin, responsible for leading the 1,600 people and five window and door manufacturing facilities in Fargo and West Fargo. Chris received his bachelor’s degree in Industrial Engineering and master’s degree in Business Administration, both fro…
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- January 17, 2023
Stay the course: Intentional philanthropy is critical in a downturn
Your family may be among those taking their charitable giving budgets more seriously this year, given the stock market’s challenges, rising interest rates, economic concerns, and anticipated cash crunches. At the same time, not surprisingly, community needs tend to rise during uncertain economic times. As 2023 gets into full swing, inflation, housing challenges, and economic uncertainty are press…
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- January 17, 2023
Invest in impact built on trust
If you’ve supported a particular charitable organization for many years and perhaps even served on its board of directors, you are likely familiar with some basic concepts of “trust-based philanthropy,” even if you didn’t know that’s what it is called. As a devoted supporter of the nonprofit organizations you love, you know that an organization’s chances of success are greatest when its leadershi…
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- January 17, 2023
Ring in the new year with new charitable giving tax laws
If you’ve been tracking federal legislation, you’re likely aware that on December 29, 2022, President Biden signed a $1.65 trillion-dollar omnibus spending bill known as the Consolidated Appropriations Act of 2023 (“CAA”). A component of this legislation, known as “SECURE 2.0,” includes many provisions that make it easier for people to build retirement savings, ranging from required enrollment in…
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- November 14, 2022
The perfect plate: Turkey, pumpkin pie, and charitable giving
As you prepare to gather with family and friends over the Thanksgiving holiday, we invite you to reach out to the team at the FM Area Foundation for suggestions on how to incorporate charitable giving into the festivities. For example: –Take this opportunity to brush up on the rich history of charitable giving in America. –Consider asking each family member to conduct quick research on a comm…
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- November 14, 2022
Give a little and feel a lot better
In the classic book The Go-Giver: A Little Story about a Powerful Business Idea, authors Bob Burg and John Mann share how Joe, a young professional, uses unselfishness to ultimately find business success. Among the philosophies: –Your true worth is determined by how much more you give in value than you take in payment. –Your income is determined by how many people you serve and how well …
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- September 17, 2022
How to grow your charitable giving by bundling tax savings
Many donors elect to use a donor- advised fund at the community foundation as an organizing tool, frequently recommending grants to their favorite charities in ways that mirror the ways they would make donations outright. Often, contributions to a donor- advised fund are in the form of highly- appreciated stock or other hard-to-value assets that generate a favorable tax outcome. Using a donor-ad…
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- September 17, 2022
Keeping track of your charitable donations is more important than ever
When the Inflation Reduction Act was signed into law in August, many taxpayers were relieved that the Act did not include heavily- debated proposed tax hikes that were so prominent in early versions of the legislation. What’s weighing on a lot of taxpayers’ minds, however, even more heavily than the few changes to income tax rules, is the Act’s $80 billion in funding increases for the IRS. The IR…
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