Instilling the idea of charitable giving in children and grandchildren at first blush may appear to be easy, but where to begin, and how to make it ongoing? More and more, wealth advisors are being asked by their clients to weigh in on strategies for fostering a family’s financial values, which frequently include charitable giving traditions.
St. Francis Community Services Emphasizes Reading with YEP Grant • Down Syndrome Association of Greater St. Louis Supports Families • Gateway Children’s Charity • How “catch-up” contributions can boost clients’ giving • Advising clients about AI’s impact on charitable giving • Our reading selections
The mission of the Down Syndrome Association of Greater St. Louis is to serve, support and celebrate the lives of all individuals with Down syndrome and their families, through every stage of life. The pillar of the organization is family support from the moment that a family receives notice that their unborn child may have Down syndrome through the end of the loved one’s life – and even beyond.
At YouthBridge Community Foundation, we regularly work with legal, financial, and tax advisors like you to help clients reach their charitable goals. As a professional who regularly works with charitable clients, you are no doubt well aware of the tremendous benefits to both clients and charities when a client names a charity, such as a fund at YouthBridge, as the beneficiary of an IRA or other qualified retirement plan.
Giving is down, but the total amount–nearly $500 billion—is still impressive, NIL collectives: DOA?, and Even more reasons to talk about philanthropy with your clients
News about the capabilities of artificial intelligence has skyrocketed over the last few months. As attorneys, accountants, and financial advisors, no doubt you are watching these developments closely, both because of the potential legal issues involved and also because of the ways AI can enhance your work.
St. Francis Community Services (SFCS), a ministry of Catholic Charities of St. Louis, received a YouthBridge YEP STL! grant the first time they applied. YEP STL!
Saint Louis Story Stitchers • Cultural Leadership • YouthBridge distributes 500 suitcases to Children’s nonprofits • YouthBridge welcomes new Board members Elizabeth Houlihan and Tom Goldberg • New Grant Partnership • Summer topics worth watching • Bridging the gaps in multi-generational family philanthropy • Gifts of cash or stock: Is it a toss up?
By August 2022, markets were down 12% for the year and inflation was up 8.3% year-over-year. Perhaps consequently, but then unknown, annual charitable giving was on its way to a rare (fourth time in 40 years) year-over year decline of some 4% according to Giving USA. Certainly this decline was due in part to donors not wanting to give stock at depressed values. You likely even discussed this with your clients!
Proposed legislation known as the Charitable Act appears to be gaining momentum. The bill calls for making available a “below the line” deduction to taxpayers who do not itemize on their tax return.
Differing views within families is nothing new; differing views about nearly anything and everything is centuries old. For generations and generations, common topics of disagreement have included popular culture, politics, religion and parenting, just to name a few. Frequently outranking all is money—how it’s made, spent or saved—or not.
This spirit of unity and the voices of young people 60 years ago that echo today in the work of Cultural Leadership, a nonprofit dedicated to creating a more just community by training area youth to be the next generation of civil rights leaders. The organization is a 2023 recipient of a YouthBridge YEP STL! grant.
As your philanthropic clients can likely attest, the going has been rough for many of the nonprofit organizations they support. Turbulent economic conditions, concerns about inflation, and challenges in the banking sector are just a few of the factors that are causing donors to be more financially conservative and perhaps begin to evaluate whether to keep their charitable giving at the levels of years past.
CFS has found strength in its endowment fund and relationship with YouthBridge, says Mitchell. Established in 2019, the fund is helping to drive some important initiatives and “we see it as an opportunity for our services to continue on for another 50 years,” she says.
Endowment Fundholders Christian Family Services • YEP STL! Grantee Special Education Foundation • YouthBridge Annual Report 2022 • 2023 YEP STL! Grants Awarded • Estate Planning Council Annual Golf Outing and Dinner • Retirement plans to charity: Understanding the “trifecta” of tax benefits • Should clients worry about … More →
As you talk with your clients about charitable giving, are you leading with tax benefits? Deferring philanthropy topics until November and December? Not looking at the big picture?
A major portion of the $80 billion scheduled to be invested in Internal Revenue Service upgrades is earmarked to “increase tax compliance among wealthy taxpayers and businesses,” according to the IRS’s plan.
Over the last few months, many advisors have noticed an uptick in client inquiries about leaving their IRAs and other retirement plans to charity. If you’re wondering why, it likely has a lot to do with the buzz about Qualified Charitable Distributions…
earthday365 • STL Youth Jobs Bridging the Workforce Divide • Capacity Building • Investing for Impact • Beyond the standard deduction • Tax tips to keep you on your toes • Turmoil in banking and technology
Charitable deductions and the vehicles that generate them continue to land on the IRS’s radar.