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…

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…

No doubt, your news feed includes far more articles about philanthropy as a planning tool for your clients than it did just a few years ago. Charitable giving has always been an important subject of client discussions for attorneys, accountants, and financial advisors. What’s changed is that widespread coverage of both major charitable gifts and the ease of making online donations has prompted mor…

If you’re already dreading asking your clients to pull together their receipts and other documents for 2022 tax filings, this may be a good time to take proactive steps to avoid being in this same spot next year.  When it comes to charitable giving, your clients may find that organizing their giving through one or more funds at the community foundation will make their lives easier. Establishing a…

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…

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…

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…

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 …

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…

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…