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tax wise charitable gifts are no joke

Tax-wise giving is no joke!

harding-davis-ginny-2016-closeWhen I was a kid, I used to love playing pranks on April Fool’s Day.  Even as a big kid, I still enjoy having fun with it, but April 1 also reminds me of the stress I feel with the looming tax day, April 15; and, what I may or may not owe the IRS. At this point, I still have 15 days to decide if it makes sense for the government to have my money in taxes; or, if I’d prefer to give to my favorite local charity, or even better, my donor advised fund or scholarship fund at the Community Foundation of Western Nevada.

Recently, I was reminded about the best investment ever.  Approximately 10 years ago, a donor set up a scholarship endowment at the Community Foundation for $1 Million.  Every year we grant several generous scholarships from this fund to outstanding, deserving and underserved populations.  To date, the total granted in scholarships is close to $1 Million!  The incredible news is that the balance in the scholarship endowment account still remains at approximately $1 Million, because of smart investing done by our Investment Committee, a group of professional advisors and volunteers, based right here in our community.  Right now our Chief Philanthropy Officer, Tracy Turner, and Program Officer, Lauren Renda, are reviewing scholarship applications and vetting them with appointed scholarship committees. It is true that education is paramount to our future as a society, and scholarships change lives – and the scholarship buzz at the Community Foundation reminds us why we do what we do!

As the IRS deadline approaches, our fund holders call to add money to their funds and/or to their scholarship endowments.  Some are making gifts to our Community Leadership work with the Youth Network and Caregiver Support Initiatives. And why not donate?  For many people, It makes sense tax-wise, but what is very heartwarming is that our donors believe in our community.  We are Your Community Foundation, connecting people who care with causes that matter!

We invite you to stop by and learn more about any of our charitable gift options, including the opportunities listed above, plus legacy gifts and family estate planning, charitable remainder trusts, and lead trusts.  Or perhaps, you are a professional advisor and would like more information on how to join the Community Foundation’s Professional Advisor Council.  I’d love to hear from you.  Please feel free to contact me at 775-333-5499, or gdavis@nevadafund.org.  I’m not joking!

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