Fall 2023

Dear Advisors,

As we approach the final weeks of the year, we want to thank you for the opportunity to work together as you serve your philanthropic clients. Whether we're collaborating on a family's donor-advised fund, a gift of closely held stock, or a qualified charitable distribution to a designated or field-of-interest fund at the community foundation, we are grateful for your partnership.

The holidays are an excellent opportunity for your clients to discuss their family's core values and create giving plans for the new year. With that in mind, the articles in this newsletter are designed to equip you with conversation starters and charitable planning ideas to enrich your client relationships throughout the holiday season and all year long.

In this issue, we’re featuring key strategies to maximize your clients' year-end giving, as well as important considerations for clients who are preparing to sell a business. You'll also read about ways your clients can turn a life insurance policy into an effective charitable giving tool.

We hope you enjoy this issue, and we welcome your suggestions about topics and resources that would be useful to you as you serve your clients. Please don't hesitate to reach out for assistance with year-end gifts, or with any other questions your clients may have as they consider their charitable goals for 2024.

Wishing you all the best this holiday season,

Laura Lederer

Vice President and Chief Development Officer

Akron Community Foundation

330-436-5611

llederer@akroncf.org

Tips to Jumpstart Your Client Conversations at Year-End

Before your clients ring in the new year, make sure they have accomplished their charitable goals for 2023. Gifts made to a charitable fund by Dec. 31 will earn them a tax deduction for the current year while supporting the causes they love for years to come. Here are six tips to help you start the conversation.

Selling a Business? The Time to Think Charitably is Now

In their haste to sell, business owners often miss strategies that can deliver an improved post-sale result and a true reward for their years of work. The community foundation can be a valuable resource as you guide your client through the preparation process and consider strategies to reduce their tax bill at the time of the sale.

Life Insurance: A Creative Charitable Planning Opportunity

As you counsel your clients about risk management and the role of life insurance in their estate plans, don't forget that life insurance can be an effective charitable giving tool. From including charity as a beneficiary to leveraging an existing policy, read on for techniques that can help your clients make a meaningful gift with ease.

Analysis: Commercial Funds vs. Community Foundations

Although a donor-advised fund can be established through a national financial institution, Akron Community Foundation is able to offer your clients a much broader array of services, more personal attention, and deeper connections to the nonprofits whose work is creating positive change right here in Greater Akron.

Akron Community Foundation makes charitable giving easy.

Learn more with our free Year-End Giving Guide:

Family Philanthropy Spotlight: The Venarge Family

David and Cheryl Venarge established a donor-advised fund at Akron Community Foundation in 1999 to allow their entire family to give back to the community they love. Three generations of their family meet annually at The Center for Family Philanthropy of Akron Community Foundation to review program descriptions from organizations seeking funding that have been identified by Akron Community Foundation and fall within the family's areas of charitable interest. A grant made by the David R. and Cheryl L. Venarge Fund in 2022 supported the creation of a new program developed by Victim Assistance Program, the Children Who Witness Violence Drop-In Center. Read More.

Nonprofit Spotlight: Let's Grow Akron

For 35 years, Let's Grow Akron has helped to improve neighborhoods and alleviate hunger by working alongside residents to create healthy food systems using community gardening and education. Not only are people eating healthier as a result, but they also learn to prepare and preserve their own food while beautifying neighborhoods. Read More.

In Other News...

Financial Advisor Magazine

Three Charitable Giving Strategies That Go Beyond Writing a Check

ThinkAdvisor

SECURE 2.0 Act Supercharges the QCD as an RMD Alternative for 2023

WealthManagement.com

The Changing Dynamics of Women and Charitable Giving and Investing

Financial Advisor Magazine

Gifting, Roth IRAs Figure Big in 2023 End-of-Year Tax Moves

ThinkAdvisor

10 Top Ways to Use Life Insurance in Charitable Giving

Ideastream Public Media

ACF in the News: More Northeast Ohioans Struggle With Rising Food Costs

WKYC

Grantee Feature: Mobile Shower Facility Coming to Northeast Ohio Roads

Laura Lederer Promoted to Vice President and Chief Development Officer

We're pleased to share that Laura Lederer was recently promoted to vice president and chief development officer of Akron Community Foundation. During her 12-year tenure, Laura has been instrumental in garnering new fund and donor relationships, as well as building our Professional Advisor Council. Many of you have worked with Laura over the years, and we hope you’ll join us in congratulating her on this well-deserved promotion. Learn more.

Young Professionals Tee Off at Recent Event

In October, nearly 30 young professional advisors joined Akron Community Foundation for a happy hour event at BigShots Golf. Advisors had the opportunity to network with colleagues and hear from a local nonprofit. If you're a young professional looking to get connected and grow your network, we'd love for you to join us at our next event in the spring. Contact Laura Lederer to be added to our invitation list.

Introducing Our New Magazine

“Foundations” tells the stories of people, organizations and movements that are dedicated to building a stronger community. Much of the content you already enjoy in our magazine is still here, but with a fresh approach and a focus on more impactful stories. Read the first issue.

For more charitable giving news and resources you can share with your clients

Did You Know?

Thanks to the Legacy IRA provisions of the SECURE 2.0 Act, clients over the age of 70 ½ have a once-in-a-lifetime opportunity to make a qualified charitable distribution of up to $50,000, adjusted annually for inflation, to a charitable gift annuity. Spouses can transfer up to $50,000 from each of their respective IRAs to one joint-life charitable gift annuity for a total of $100,000. Clients who establish a charitable gift annuity at Akron Community Foundation will receive a lifetime stream of income, and the remaining assets will support an endowment fund in their name. To learn how your clients can take advantage of this new giving opportunity, contact Laura Lederer.