Winter 2023
Dear Advisors,

As 2023 gets into full swing, talk of a recession, housing challenges, and inflation may be on many of your clients' minds. Tough times are easier to navigate with the help of a solid financial plan, and the same can be said for a planned approach to charitable giving. Now is the time for philanthropists and their advisors to be thoughtful in planning how much to give in 2023, and also to evaluate which tax strategies might maximize support to charities while minimizing impact on donors’ personal financial situations. 

As you'll read in this issue, planning is a key theme across all areas of charitable giving, especially as you help your clients budget for their 2023 donations, adopt a year-round giving strategy, take advantage of the new “Legacy IRA” rules for QCDs, or consider the increased benefits of a charitable gift annuity as interest rates rise. 

We hope you enjoy this issue and, as always, we look forward to hearing your suggestions about topics and resources that would be useful to you as you serve your philanthropic clients. Please don't hesitate to reach out to us for assistance as your clients consider their charitable giving plans for 2023.

With gratitude,
Laura Lederer
Senior Director of Development & Advisor Relations
Akron Community Foundation
330-436-5611
By Jesse Hurst and Trey Bennett
Most advisors spend their career advising clients experiencing liquidity events, but everything changes when it comes to the sale of their own practice. Here's how you can implement an impactful philanthropic strategy that allows you to minimize taxes while making a lasting difference.
The SECURE 2.0 Act legislation enacted in December includes a wide range of provisions that impact multiple sectors, including three key provisions affecting philanthropists. Read on to learn more about the new Legacy IRA giving opportunities and how this legislation will impact retirement planning.

The recent increase in payout rates for charitable gift annuities, combined with the Legacy IRA enhancements of SECURE 2.0, have made charitable gift annuities a rising star in the charitable planning world. Learn why now is an ideal time to talk with your clients about the benefits of this giving vehicle.

For years, research has shown that a proactive advisor who offers options for incorporating philanthropy into financial and estate plans inspires client loyalty, even across family generations. Learn how the community foundation can support you in discussions about legacy giving, family values and more.
If you would like printed copies for your office, please contact us and indicate your preference for either wall posters or pocket-sized brochures.
The Institute for Emerging Philanthropists is an exclusive, biennial educational program designed to support, inspire and cultivate a developing group of donors. This seven-session program helps participants identify their personal philanthropic goals and develop plans for a lifelong commitment to improving our community. The program culminates in a graduation ceremony where students announce the grants their class has awarded based on their training. If you or one of your clients is interested in joining the next class, apply online by April 15. For questions, contact Karen Hrdlicka, director of The Center for Family Philanthropy, at 330-436-5640 or khrdlicka@akroncf.org.
"If you want to learn more about the community, whether you're currently actively involved or want to take that next step in your own philanthropic journey, I can't think of a better organization to do it with than Akron Community Foundation." – Kevin Kroskey, managing partner at True Wealth Design and graduate of the Institute for Emerging Philanthropists
Akron Community Foundation recently launched our first-ever Wish Book, which features a collection of wishes from 50 nonprofit organizations in Summit and Medina counties. From purchasing a portable background check machine that will ensure the safety of our community’s youngest residents to helping to buy a cargo van for meal delivery services, donations made today will improve our community for years to come. It doesn’t matter whether you have $15 or $5,000 to give – every dollar helps!
In Other News...
Established during the city’s 30th anniversary year, the Green Community Fund is a permanent endowment dedicated to strengthening the city by supporting meaningful civic and community initiatives. Learn More.
Akron Community Foundation recently earned the 2023 Platinum Seal of Transparency from Candid. This is the highest seal of recognition and is awarded to organizations that publicly share detailed records about their financials, strategies and metrics. Visit our Nonprofit Profile to track our impact in the community.
Did You Know?
The beginning of the year is an ideal time for clients age 73 and older to take advantage of Qualified Charitable Distributions from their IRAs. By planning for these tax-free distributions early in the year, you can help your clients maximize the tax benefits of this popular giving tool, including reducing or eliminating income taxes on this year's Required Minimum Distributions. Timing on the distributions is key because of the IRS's “first-dollars-out rule,” which requires that the first dollars withdrawn from an IRA in a year where an RMD is due will go to satisfy the RMD. If the RMD is taken before the QCD, that RMD income can’t be offset by a QCD made later in the year, so we recommend initiating QCDs now to ensure your client receives the full tax benefits. As a reminder, although QCDs cannot support donor-advised funds, other types of funds at the community foundation are eligible, including designated funds, nonprofit endowment funds, and field-of-interest funds (such as our eight affiliate funds). Contact us to learn more.
Additional Resources

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Laura Lederer
Senior Director of Development & Advisor Relations
330-436-5611
Akron Community Foundation 
345 West Cedar St., Akron, OH 44307
Office Hours: 9 a.m. to 5 p.m., Monday through Friday