Communities Foundation of Texas Supports Private Foundations

A private foundation can be a great vehicle for charitable giving, but sometimes the process of managing the foundation’s operation can add stress to the joy of giving or become a burden. Communities Foundation of Texas (CFT) can work with you to find a solution that makes your giving simple and fulfilling.

Utilizing CFT Staff Expertise

In the growing landscape of philanthropy and nonprofit organizations, we understand that it can be difficult to find and/or assess the right charitable programs to fund. Through the Giving GuideNorth Texas Giving Day, and other community grant initiatives, CFT staff have extensive knowledge of nonprofits in North Texas. We are happy to provide a curated list of funding opportunities and nonprofit needs that align with a foundation’s charitable values, stated purpose and goals. Additionally, CFT can operate a separate grant application process and provide review and vetting services, if desired. Many individuals, foundations and corporate partners rely on CFT staff knowledge and experience to find specific grant opportunities.

Beyond our philanthropic services, foundations may utilize CFT to make grant payments on behalf of the foundation. CFT staff will ensure that the nonprofit recipients meet the necessary due diligence requirements, handle all check processing needs, and can also write grant agreements to provide reporting on the use and impact of funds.

Conversion of the Private Foundation

At different times in the life of a private foundation, we understand that an individual or family may need to decide if operating the foundation is the right thing. Administrative expenses, IRS compliance regulations and changing family dynamics can all impact the joy and the success of maintaining an independent charitable organization. We have worked with many people to retire the private foundation entity in favor of opening a donor-advised fund because the fund allows them to maintain the same name, identity and charitable goals as the current foundation without the administrative burden. Multiple generations can be part of the granting process, like with a board, ensuring that family values of philanthropy get passed down. Charitable giving, without the burden of administration, can be a welcome option at some point in the life of the foundation, and we are happy to explore all options with you or your client.

I would be happy to talk about the ways in which CFT can assist with the administration of your private foundation! Feel free to reach out to me at 214-750-4146 or cnewham@cftexas.org.

Beyond the Helper’s High

We all know that giving back feels good, but did you know that it’s actually good for you?

The warm glow that most people feel from giving back actually has a name – the “helpers high.” Indeed, volunteering, donating and offering emotional support to others not only helps those on the receiving end, they have also all been shown to boost the mental and physical health of the giver.

Good for your mental health

Continue reading “Beyond the Helper’s High”

We’re Here to Talk

With limited resources, we all have to make choices on what to support. Simplifying the giving process is what Communities Foundation of Texas is all about.

At Communities Foundation of Texas, we have giving experts who will sit down with your family or business to talk about your giving goals and help you maximize your giving.  We are happy to help you, just give us a call today and we can set up a free, confidential consultation.

You go to a doctor for medical advice, a lawyer for legal advice, an accountant for tax advice…why not a charitable giving expert for giving advice? That’s why we’re here! We’ll help you navigate the many solicitations you get in the mail and the many ways to help locally, across the nation and beyond—to step back and really make a plan.

Many people want to consider how they will best situate their family as well as how they want to improve the community and leave a legacy. We’ll work together to find the right path for you.

A lot of people work with us all year long, not just at year-end.

We’re here for you and can talk confidentially about your ideas. Contact us today to get started with your giving plan.

Know yourself, know your giving

With so many amazing causes requesting donations, how are you supposed to choose? When saying yes to one means saying no to so many others, how are you supposed to decide? When you know what matters most to you, it’s easier to know which causes you want to support.

While it may not seem like all of these questions are relevant to your charitable giving style, being able to answer them will help better define what’s important to you. And that’s the first step in identifying what you want your charitable legacy to be. Continue reading “Know yourself, know your giving”

Are You Giving Wisely?

Think critically about how and why you give

CFT’s GiveWisely series was created as a way to assist donors in developing their own approach to their personal philanthropy—by thinking strategically and learning from a group of like-minded peers.

GiveWisely offers participants an opportunity to look deeper into what motivates them to give, so they leave the class with a clearer idea of which issues they want to support, the knowledge of how they can go about doing so, and the ability to say “yes” or “no” powerfully, depending on whether an opportunity is aligned with their own focus. Continue reading “Are You Giving Wisely?”

Announcing David J. Scullin as New President and CEO of Communities Foundation of Texas

Scullin to continue CFT’s philanthropic leadership in North Texas and beyond

The board of trustees of Communities Foundation of Texas (CFT), one of the largest community foundations in the nation, is pleased to announce that David J. Scullin will become its new president and chief executive officer, starting in January 2017. Scullin replaces Brent E. Christopher, who led CFT for nearly eleven years.

“On behalf of the board of trustees, I am thrilled to welcome Dave Scullin, as the new president and CEO of Communities Foundation of Texas,” said Frank Risch, board chair of CFT. “Dave is known for his seasoned leadership, strategic acumen, financial expertise and his ability to build relationships. We look forward to his leadership which we believe will bring CFT to even higher levels of achievement in developing philanthropy within our North Texas community.” Continue reading “Announcing David J. Scullin as New President and CEO of Communities Foundation of Texas”

Steady Your Income and Make a Contribution

There are many considerations your clients face as they approach their retirement years.  They may want to lock in a fixed income or create a hedge against inflation—or both—as well as provide support to charitable organizations that have been meaningful to them.

Charitable Gift Annuity

With a charitable gift annuity, your client can make a contribution to Communities Foundation of Texas that provides fixed payments for life as well as numerous tax advantages.  Following his/her lifetime, the remaining assets can support charitable programs in our community and beyond.

Charitable Remainder Unitrust

A charitable remainder unitrust provides variable income payments.  Your client can fund the trust with cash or other assets and decide on the payout rate, within IRS limits, to your client and/or others.  The trust assents remaining at the end of the beneficiaries’ lifetimes will provide charitable support.

Both of the above vehicles can be “linked” to a donor-advised fund that your client can experience during his/her lifetime.  The balance of the charitable gift annuity and charitable remainder unitrust can flow into the donor’s fund.

What a wonderful way for your clients to support the charitable organizations that they have loved and respected, while also receiving an income and charitable deduction.

If you would like to learn more about how CFT can be of help in creating a philanthropic legacy that can continue for years to come please contact me at gjacobs@cftexas.org or 214-750-4255.

DAF: Simple, flexible and easy to open

Opening a donor-advised fund with CFT offers a simple, flexible and easy to open charitable vehicle for your clients to give money to schools, hospitals, museums, and other nonprofit organizations they care about.  Donor-advised funds can be established with cash, marketable securities, closely held and restricted stock, life insurance policies, real estate, retirement plan assets, business/partnership interests, oil, gas and mineral rights or tangible personable property. Contributions are tax-deductible up to 50 percent of adjusted gross income for cash and 30 percent of AGI for stocks and real property.  Regardless of the type of asset, we work closely with donors and their professional advisors to discuss options and outline charitable intent to facilitate the contribution of simple or complex assets and find the most cost-effective way to maximize philanthropic options while minimizing tax liability.

Setting up a donor-advised fund is easy: Continue reading “DAF: Simple, flexible and easy to open”

GIVEWISELY Sparks New Approaches to Philanthropy

GIVEWISELY IS A ONE-OF-A-KIND INITIATIVE of Communities Foundation of Texas that teaches
donors the ins and outs of philanthropy and how to develop their own unique approach to charitable giving. This series of classes and workshops is open to donors of all ages.

When CFT fund holder Gigi Gartner was in the class, she had just finished an event announcing recipients of the Common Cents Scholarship fund that she leads now, thanks to her mother, Louise, passing the torch. “GiveWisely gave me the opportunity to think about how I will build on my mother’s community impact and continue to create my own.”

Participants met for five sessions that explored various ways of defining their own values and giving style, and the class culminated with them each outlining their personal giving statements and charitable budgets. GiveWisely classes offer donors a unique chance to learn from experts, share conversations, and create a custom giving plan in a warm,confidential environment. Gartner closed, “I highly recommend CFT’s GiveWisely class for those who want to learn how to structure more powerful giving.”