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Planning for the standard deduction, "quasi-endowments," and why giving makes you smile
Hello from the community foundation!
Thank you for the opportunity to work together! Already we are hearing from many donors and fund holders about your year-end giving plans. We couldn’t be happier that so many of you are planning ahead to be sure you have plenty of time to accomplish your charitable goals for 2024. Of course, we’re happy to help put things together right up until the end of December, but it’s really nice to have plenty of time to ensure that charitable, tax, and estate planning objectives are all considered. This is especially important if you’re just getting started working with the community foundation or are considering doing so this year. We’re ready to talk when you are!
In this issue, we’re covering three topics that have popped up several times recently in conversations.
–With potential tax law changes on the horizon, many people are taking a closer look at how the standard deduction might impact their charitable planning for the next few years. Learn how the community foundation can help you and your advisors work through various scenarios for organizing your giving so you don’t leave dollars on the table either for yourself or your favorite charities.
–Many people are involved with charities both as donors and as board members. If you’re one of them, you might have the opportunity to learn about different types of endowments–both the kind of endowment that a charity itself establishes as well as the kind of endowment that you as a private donor might establish for the charity. The community foundation can help with both.
–Giving to charity makes people happy. That certainly does not come as a surprise to most people who incorporate philanthropy into their lives, but you might be interested to learn how the research on these positive emotions connects to the charitable giving tools available through the community foundation. Lots of reasons to smile!
As always, we look forward to hearing from you! Thank you for everything you do for the community we all love.
With gratitude,
Angie Tatro,
CKCF CEO
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