Russell and Phoebe Perry were more than animal lovers. Mr. and Mrs. Perry believed deeply in the fair treatment and care of animals and wanted to do everything they could to help those in need. With no children of their own, Mrs. Perry’s goal was to use their resources, both during their lifetimes and after, to help as many animals in North Texas as they could. Russell and Phoebe set up charitable funds at Communities Foundation of Texas to ensure that their money would be able to do the most good. The Perrys were able to work closely with Communities Foundation of Texas and their CPA, John Solana, to ensure that their passion turned into real change during and far beyond their lifetimes.
“Phoebe really was a guardian angel for animals in North Texas.” – James Bias, President of SPCA of Texas.
Phoebe approached every giving opportunity with insight, perspective, compassion and careful scrutiny. After Mr. Perry died in the late 1980s, Phoebe wanted to make sure that their giving continued after her lifetime as well. Nothing gave Mrs. Perry more joy than seeing her gifts used in a responsible way and Phoebe was able to revisit her CFT fund agreements many times throughout the years as her giving needs changed. “Since Communities Foundation of Texas has no charge for agreement revisions, Mrs. Perry was able to add to and adjust her funds as often as she liked,” stated John Solana, Phoebe’s long-time financial advisor.
The Perry’s planned their deferred giving to include traditional vehicles as well as an IRA. Thanks to Mr. and Mrs. Perry’s thoughtful planning, the causes that they cared about will continue to benefit through their funds at CFT. This will allow their legacy of generosity to continue for years to come.
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 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.”