IRA Charitable Rollover Distribution to Create a Designated or Scholarship Fund

When available, donations from IRAs are one of the best charitable giving tools after tax reform. They completely avoid the standard deduction and give the donor a full dollar-for-dollar benefit. For federal tax purposes, qualified distributions up to $100K from an IRA made directly to charitable organizations are excluded from the owner’s gross income, if the distributions are made on or after t…

Read More
iStock_16837225_XXLARGE (1).jpg

“Bunching” Charitable Giving with a Donor Advised Fund

Most taxpayers won’t accumulate enough itemized deductions to exceed the new standard deduction. But if they plan deductions to be incurred over every other (or every third) year, they may periodically exceed the standard deduction and secure a tax benefit for their charitable donations in that “bunched” year. The key is pushing some deductions off to a future year and then, in that year, acceler…

Read More
Dr. Wilk.jpg

Three new legacy funds created by chemist and WWII survivor, Dr. Immanuel J. Wilk

The FM Area Foundation is pleased to announce the establishment of three new legacy funds—the Immanuel Kant Endowment Fund I, Immanuel Kant Endowment Fund II and the Immanuel Kant Music Fund. These funds established in April of 2018 through Dr. Immanuel J. Wilk’s revocable living trust will benefit the Temple Beth El endowment fund, as well as graduate students in the chemistry departments at NDSU…

Read More

You And Your Community Foundation, Working Side By Side

When families embark on a journey to make philanthropy a part of their lives across generations, it often starts with simple concepts: Having fun as a family, getting in touch with nature, being authentic and open about values, donating canned goods or clothing to families in need, recycling cardboard and aluminum cans, celebrating every birthday and holiday with a big cake and a gift to charity,…

Read More

Get A Jump On Your Charitable Giving Budget

Whether it’s January, May, or September, it’s always a good time to check in on your budget. So how do you factor in your charitable giving? To get started, consider planning your social impact budget around three points—amount, timing, and category. 1. How much? That’s the $64 question. Or more, depending on your budget. The first thing to keep in mind when setting a budget for supporting you…

Read More

FM Area Foundation Makes First Ever Mission Related Investment

Lakes & Prairies Community Action Agency purchases new building to expand program offerings Lakes & Prairies Community Action Partnership works with and for low-income children, families and seniors throughout the area. They help people take the journey from barely surviving to fully thriving in our community by connecting them to opportunities, providing information and offering progra…

Read More

New Charitable Fund To Leave Positive Impact On Community

A new charitable fund was recently established through the FM Area Foundation to support the Fargo-Moorhead area in perpetuity. On Jan. 5, 2016, at the age of 92, Roland Stenerson passed away leaving an unrestricted gift in the amount of $509,658 to the FM Area Foundation and ultimately his community. The Roland Stenerson Designated Fund, created by Stenerson in 2009, was funded by proceeds fr…

Read More

Donor Advised Funds Most Popular Vehicle For Giving

Donor Advised Funds (DAFs) are fast becoming the most popular vehicle for charitable giving in the U.S. More than 238,293 donor advised funds exist, up 29% over the past five years, according to the National Philanthropic Trust’s 2015 Donor Advised Fund Report, which uses 2014 data. Contributions to donor advised fund accounts also hit an all-time high of $19.66 billion in 2014 driving Donor Advi…

Read More

FM Area Foundation Aims To Raise Profile

Greg Diehl, development officer for FM Area Foundation shows off the Conceptual Site Design for the new location at 409 7th Street in south Fargo, N.D. Carrie Snyder / The Forum By Dave Olson on Sep 19, 2015 at 1:05 a.m. FARGO — The FM Area Foundation has been around since 1960, but its profile has always been low key. Now, the agency is looking to boost community awareness with a spiffy new…

Read More