You are no doubt familiar with the many benefits of giving hard-to-value assets to a charity–and especially to a client’s donor-advised fund at YouthBridge Community Foundation. Because YouthBridge is a public charity, your client is eligible for the maximum allowable tax deduction for their contributions.
More than half of the country’s GDP is generated by the 5.5 million family-owned businesses in the United States. Profits aren’t the only priority for most family businesses; indeed, the vast majority of family business owners report that other factors, such as culture, community, charity, and values, are also important to the business.
“The greatest wealth transfer in modern history has begun,” according to a mid-2021 report in the Wall Street Journal. And, with tax reform’s big bite into estate values off the table, at least for now, many of your older clients may be thinking seriously about their legacies.
Lift For Life Academy had a good problem to solve. A donor expressed the desire to establish an Endowment Fund for the school, but “the problem was, we had no idea how to set one up,” says Marshall Cohen, Lift For Life Executive Director and Co-Founder. Cohen says the Finance Committee of the Board decided to send out requests for proposals to three potential managers, including YouthBridge.
In 2022, we have selected the first recipients of our Organizational Capacity Building grant: HOME WORKS! and Springboard to Learning. Through these one-time matching grants, YouthBridge will cover 75% – or up to $7,500 – of costs related to projects intended to strengthen the capacity and sustainability of nonprofit organizations.
For nearly 90 years, charitably-minded individuals and families have established donor-advised funds to help carry out their philanthropic wishes. Popularity of the donor-advised fund steadily grew, especially beginning in the 1990s, eventually resulting in official recognition in the Internal Revenue Code under 2006 tax law updates. Today, over one million donor-advised fund accounts hold nearly $160 billion in charitable assets, according to the latest numbers.
Your philanthropic clients will thank you for suggesting they consider giving the gift of giving (say that three times fast!) in the form of a charitable fund instead of the more typical “I made a gift to my favorite charity in your honor.”
We’ve heard that many of you appreciate a quick checklist for charitable giving reminders each December. We know you receive this type of information from many sources, and frequently in great detail. It is our goal to break things down into a few simple points (below are three).
Progress 64 West hosted its 33rd Annual Excellence in Community Development Awards Banquet on November 24 in Chesterfield, Missouri.
Veterans Find the Lives They Deserve Through FOCUS • St. Louis Area Diaper Bank Making a Basic Need More Accessible • Holiday Gifts for Employees, Clients, Family & Friends • What’s off the table and what’s still in play • The buzzword is “billionaire” • Year-end giving
2020 was a pivotal year in a lot of ways. For the St. Louis Area Diaper Bank, it marked six years of serving the region, more than six million diapers distributed through 60 partner agencies, and the launch of a new initiative to expand resources for low-income women.
We honor our veterans this month and salute the organizations dedicated to helping them live productive and rewarding lives after service, such as FOCUS Marines Foundation. YouthBridge partner Wayne C. Kaufmann Foundation has faithfully funded FOCUS since 2016, helping the organization to continue its mission of serving our nation’s veterans in their transition to civilian life.
It’s the season for email newsletters hitting your inbox with tips for tax planning. We get it! With so much information flying around for your clients, too, we highly recommend that you cut through the noise and mention four key tax strategies to your clients at least twice, and ideally three times, before late December.
Forbes reports that the latest headcount of American billionaires checks in at 724. That number surprises some people, and for different reasons. Many are surprised to learn that the number is so low, when the word “billionaire” has been used so frequently lately in discussions about changes to the tax laws.
Late last month, the White House released a proposed $1.75 trillion revenue package, putting to rest (at least for now) some of the uncertainty as to how sweeping tax reform could upend wealth planning strategies via changes to top marginal rates, a restructuring of the capital gains tax, and lower estate and gift tax exclusions, all of which have been heavily discussed and debated over the last several weeks. For now, those particular big changes appear to have been dropped.
Spreading Love and Hope in the Lou • Training Camp Takes Fear out of Fundraising • YouthBridge proud to sponsor 2021 Family Business Awards • Trends that inform what your clients are thinking •Recent IRS actions illuminating charitable tax planning pitfalls • Pending legislation that could impact charitable giving strategies • Notice for Professional Advisors
Eleven family-owned companies were honored on October 19th, 2021 at the sixth annual Family Business Awards. Family businesses have always been essential to the success of St. Louis.
YouthBridge is committed to the sustainability of vital community services that build strong individuals and families. In this article, we highlight a 2020 recipient of our Nonprofit Recovery and Resilience grant, which has also received ongoing support through YouthBridge donor clients.
As the second deployment of our Nonprofit Recovery and Resiliency Fund, this summer we awarded 10 child-serving charitable organizations with weeklong training in building fundraising capacity. In this article, the Megan Meier Foundation shares how it gained a new perspective and approach to fundraising after attending the workshop.
It requires a keen eye to spot unintended negative consequences of a well-meaning client’s charitable giving strategies! This fall, we suggest you take note of three cautionary tales…