A major wealth transfer
is underway as Baby Boomers prepare to pass assets to their Gen X and
Millennial children. The numbers are staggering—$124 trillion in U.S. wealth is
expected to change hands by 2048, with $105 trillion going to heirs and $18
trillion earmarked for philanthropy.
For advisors, this is a
pivotal moment to help clients integrate charitable giving into their financial
and estate plans. The Community Foundation is here to assist with strategies
that ensure clients’ philanthropic wishes are fulfilled.
Key reasons to
prioritize charitable planning:
Bridging
the Knowledge Gap
– Many clients are unaware of tax-efficient giving options. They may still
write checks to charities without realizing the benefits of donating appreciated stock or using donor-advised funds.
Advanced
Giving Strategies
– High-net-worth clients often require sophisticated planning to optimize tax
benefits and maximize their philanthropic impact. Structuring gifts of complex
assets, such as closely held business interests, can provide both financial and
charitable advantages.
Proactive
Legacy Planning
– Waiting to incorporate philanthropy into an estate plan can be a missed
opportunity. Naming a fund at the Community Foundation as an IRA beneficiary,
for example, is a highly tax-efficient way to support charitable causes.
By leveraging our expertise, you not only enhance your clients’ financial plans but also deepen your relationships and strengthen retention. Let’s work together to ensure your clients’ legacies reflect their values while achieving their financial goals.
by Ashley Coldiron, Chief Development Officer
If you’re 70½ or older, a Qualified Charitable Distribution (QCD) is a
smart way to give to a designated, field-of-interest, or unrestricted fund at
the Community Foundation. In 2025, you can direct up to $108,000 from your IRA
to several types of funds at the Community Foundation—though donor-advised
funds aren’t eligible.
But what if you intended to make a QCD in 2024 and ran out of time? Maybe
you even initiated one on December 31, only to find it didn’t count due to
settlement delays. While you can’t retroactively apply a QCD, here’s how to
move forward:
Check Your RMD – If you were
required to take a Required Minimum Distribution (RMD) for 2024 and missed
it, file IRS Form 5329 to request a waiver and avoid penalties.
Plan for 2025
Now – Making your QCD early in the year helps ensure it counts toward
your RMD before other taxable withdrawals, avoiding issues with the
“first-dollars-out rule.” Plus, you’ll skip the year-end rush.
Our team is here to help you and your advisors navigate QCDs and other
charitable giving strategies. Let’s work together to make the most of your
philanthropy in 2025!
by Jody
Dilday, Philanthropic Advisor
The new year is underway, but there’s still plenty of time to reflect on
your charitable impact and plan your giving for 2025. A great place to start is
by considering the difference you’ve already made.
Think about the causes you have loved and supported in the past. Many
donors establish funds at the Community Foundation because of personal
experiences—perhaps a loved one benefited from medical research, a nonprofit
counseling service, or compassionate hospice care. Maybe your business thrived
thanks to a nonprofit arts district, or you found a cherished pet through an
animal rescue. Giving not only changes lives—it also brings joy.
At the Community Foundation, we’re here to help you shape your
philanthropic vision for 2025 and beyond. Let’s connect to explore:
Maximizing your giving through gifts of appreciated stock
Incorporating charitable giving into your estate plan to leave a lasting legacy
Partnering with other fundholders to support larger initiatives
The impact of past grants from your donor-advised fund and ways to inform future giving
How your support aligns with key community priorities to drive meaningful change
If you’d like to discuss your giving strategy or explore new ways to make an impact, connect with one of our team of Philanthropic Advisors. We are here to help.
Little Rock, Ark. (Feb. 5, 2025) – Scholarships are now available for eligible Arkansas students through Arkansas Community Foundation.
The Community Foundation’s scholarships are for Arkansas students pursuing education at two- or four-year colleges or universities, vocational schools or technical training programs. Each scholarship has its own eligibility criteria. Some scholarships are designated for graduates of a particular high school or those who plan to attend a particular college. Others are based on extracurricular activities or intended college majors.
The Foundation has a scholarship portal with a quiz to help applicants determine scholarship eligibility.
“Since 1976, the Community Foundation has partnered with individuals and organizations who want to support our state’s students in their pursuit of higher education,” said Heather Larkin, Community Foundation president and CEO. “These generous people provide the funding and determine the size and eligibility criteria of each scholarship, while we oversee the application and awarding process on their behalf.”
Hundreds of scholarships can be found on the Foundation’s scholarship portal. For scholarships awarded specifically for a certain school, community or interest-area, applicants should contact their local Community Foundation affiliate office or speak with their school counselor. A list of Foundation affiliate offices can be found at www.arcf.org/affiliates.
Scholarships that are available statewide include:
Abigail Robertson Scholarship, provides a scholarship for female students pursuing a business degree at a college or university in Pulaski County
Advancing Women in Transportation Scholarship, provides a scholarship to female students who plan to pursue a career in a transportation-related field in Arkansas
Alexa Montez Memorial Scholarship, for a graduating senior who demonstrates community involvement, passion, teamwork, leadership, and enthusiasm for achieving group goals
Anne Pressly Scholarship, to memorialize the legacy of Anne Pressly and support women who plan to pursue a career in Journalism
Arkansas Service Memorial Scholarship, for students who are children of Arkansans who lost their life in service in the state, nation or community
Barbara Mashburn Memorial Scholarship, provides a scholarship for a graduate of an Arkansas high school pursuing an education as a vocalist
Clay and Margaret Godfrey Memorial Agricultural Scholarship, for students enrolled in college pursuing a degree in agricultural science.
East Student Scholarship, provides a scholarship to a graduating senior with a minimum of 100 hours of community service as part of their participation in an EAST program.
Elizabeth G. Redman Republican Party of Arkansas Scholarship, for students who are members of or active in the Republican Party of Arkansas
Herchel and Melba A. Fildes Scholarship, provides a scholarship to students studying nursing and attending Harding University in Searcy or Arkansas State University in Beebe
Lillian McGillicuddy Republican Party of Arkansas Scholarship, for students involved in the Young Republicans organization
Mary Lowe Good Scholarship, provides a scholarship to a graduating senior with a minimum of 100 hours of community service as part of their participation in an EAST program.
Merwin T. and Agnes Bowman Nursing Scholarship, for students seeking a Bachelor of Science in Nursing or equivalent degree from a qualified institution
Poultry Federation Scholarship, provides scholarships to students pursuing a degree related to the poultry industry
Robert P. Atkinson Hospital Leadership and Scholarship, provides a scholarship to students pursuing an advanced degree with an emphasis in healthcare and/or hospital administration
Ryan Mondy D.A.S.H. Memorial Scholarship, provides scholarships to graduating seniors whose lives have been affected by cancer
Deadlines for scholarship applications differ and can be found on the scholarship portal.
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Arkansas Community Foundation, a statewide nonprofit organization, provides resources, insight and inspiration to build stronger Arkansas communities – communities where our kids will want to raise their kids. The Community Foundation is the largest grantmaker in the state in the number of grants made each year. Since 1976, the Foundation has awarded more than half a billion in grants to nonprofits. Serving local communities through a 29-affiliate network along with statewide initiatives, the Foundation staff works directly with donors, professional advisors and nonprofits to help strengthen Arkansas communities through strategic philanthropy and focusing on local needs. Its assets rank among the top 60 of community foundations in the United States with more than $800 million in charitable assets under management.
Written by Lauren Morris, Program Director at Arkansas Community Foundation
Child Care Aware of West Central Arkansas (CCA WCA) is out there quietly making sure Arkansas kids are getting the best start they can. From supporting early education center directors, to training staff, to classroom supplies, CCA WCA is behind the scenes making things better. And, over the past three years, Hot Springs Area Community Foundation has been supporting their efforts. This past year, the focus was on resources that use songs and music for better brain development.
“Activities like songs help young children learn. A kid can pick up a song easily and remember it, sometimes for a lifetime,” said Melanie Jackson, program coordinator for CCA WCA. “Rhythm bells and sticks help kids keep beat with the music and learn cause and effect. The kids love to move around and dance with scarves. This is all foundational to building rich language experiences for future reading skills.”
Childcare centers across Garland and Montgomery Counties received a classroom “kit” filled with music-related books, instruments, and dancing props.
But CCA WCA doesn’t just deliver classroom supplies. Their staff train pre-K directors and classroom teachers on how to better use their spaces and teaching tools to build better brains and how they can make low-cost or no-cost classroom supplies on their own.
Remember “There was an old lady who swallowed a fly?” Thanks to CCA WCA, teachers learn to use props like an old lady cut-out that has a clear stomach for teachers to drop visuals of all the wild things that she eats. Staff demonstrate the prop, the visuals, and how to use it with a song to help children learn, understand, and retain language lessons. Their office even has a model classroom to help demonstrate how classrooms can be set up to make learning fun and support language and brain development.
CCA WCA serves early childhood education centers across 13 counties in west central Arkansas providing training, classroom resources, and technical support.
Early literacy and third grade reading is a strong predictor of success in school, along with better opportunities and wage earnings after graduation. Arkansas Community Foundation works closely local organizations like CCA WCA, with the goal of ensuring that families and children have what they need to grow and learn.
When Mac Van Horn came to Arkansas in the early 1960s, he was looking to build his life and family. He fell in love with Russellville, began building his business and quickly started giving back. “My dad lived and modeled the idea that if you want a community to treat you well, you have to treat your community well—there is a back-and-forth relationship,” said Scott Van Horn, Mac’s son.
Mac understood the value of a local community foundation, and in 2001 was the founding board chair for Pope County Community Foundation. With his reputation as an effective community leader, he helped raise matching funds and rallied others to join him on the local board. As Mac slowed down in his later years, his son, Scott, stepped in to provide leadership. Now a third generation Van Horn is charting a path to serve the Foundation’s board with Scott’s son, Dalton.
“Dad was a start-up guy and could get things going and get people to help,” Scott said. “In addition to the Community Foundation, he was actively involved with the Red Coats for the Chamber of Commerce, the Jaycees, and many other organizations. He liked to support local causes, and he gave to statewide efforts too. He and my mother drilled into us how we should always give back.”
Along with the Pope County affiliate, Scott and Dalton support some of the other causes that Mac started. “Dad was very active with Camp Caudle in the early years and several other local organizations that helped kids,” said Scott. “We still sponsor many organizations that help youth, including Royal Family Kids Camp for foster kids — also a grantee of the Community Foundation.”
The youngest Van Horn has been on the Pope County Community Foundation board since June of 2024. “The affiliate is growing and working to address local needs,” he said. “We just completed our fall grant cycle where we focused on food security and early literacy programs. And in the last fiscal year, we awarded nearly $125,000 in grants to area nonprofits.”
Dalton and Nikki Van Horn along with Karen and Scott Van Horn reside in Dover, Arkansas.
Dalton has also helped in fundraising for many local nonprofits, including MARVA Workshop, a resale store in Russellville, and grantee of the Community Foundation. “MARVA provides meaningful work and services to adults with developmental disabilities. When I walk through that facility and see the faces and hear the pride in what they do, it is a great feeling to be a part of that.
“My parents are the most generous people I’ve ever seen,” Dalton continued. “They did things that no one knew about, and they weren’t doing it for any publicity or praise. Since I stepped into the family business, I take seriously our family’s generations of service here. My grandparents and parents were deeply committed to giving back and being community leaders, through the Pope County Community Foundation or other nonprofits. I am proud to be part of that legacy.”
“I have been planning this since I was 12-years-old,” said Misha Murphy. “I love to cook, and this area doesn’t have enough places to eat. So, here I am trying to fill that need while doing something I love. Arkansas Community Foundation and Communities Unlimited helped make it possible.”
The Community Foundation’s mission of building stronger Arkansas communities relies in part on bustling economies for rural areas. Small business owners like Murphy drive the local economy and can create more jobs. For residents in Almyra, population 249, access to businesses in the area — whether a food truck or a laundromat or a home health care provider — are imperative to rebuilding rural communities.
Murphy is an entrepreneur, wife and mother of twins living in this Arkansas county town. She received a low-interest loan to start a food truck business from Communities Unlimited (CU), one of the Community Foundation’s impact investing partners. Among their broad program portfolio, CU works in multiple states, primarily in rural areas to unwind generations of inequity and disinvestment.
Misha and Nick Murphy serve delicious food from her food truck in DeWitt.
The Community Foundation has partnered with CU since 2016 with an original investment of $1 million. They’ve used that $1 million to make loans to underestimated entrepreneurs like Murphy. That $1 million in funds from the Foundation to CU has moved 2.6 times through 100 loans equaling $2,698,066.
Murphy was introduced to CU by Chantel Poor, one of CU’s community facilitators. “Chantel turned out to live just a few houses down. She connected me with James Custer at CU. He works with entrepreneurs like me,” said Murphy. “I had the expertise in making food, but James helped me flesh out a business plan. I tend to overthink and create big, grand plans, but he helped me simplify. I held a vision in my mind, but he helped me determine the first step, then the second, and so on.”
When Communities Unlimited makes a loan to an entrepreneur, it is neither the beginning nor end of the relationship. “After working with James for a few months, I was ready to apply for a loan and got it in March of 2024,” she said. “Now, I meet with James every other week because I still need help to grow the business. He helps me look over the financials and makes sure everything is coded correctly. He also helped me find additional funding from another organization.”
“Once you are part of CU, you are family,” said Poor. “Simplified, we are a one-stop-shop organization helping rural communities with anything from lending to housing to broadband access and more. I just happened to meet Misha and was inspired by her drive. I am so proud of her. I was invited to sit in when she signed her contract. It was emotional to see how far she’d come and how hard she has worked.”
Murphy originally wanted a brick-and-mortar location for her culinary business, but that evolved to be a food truck so that she could go to customers in nearby DeWitt and Stuttgart. She serves smash burgers, a variety of desserts and onion rings that are becoming a local favorite. “I have one customer that just wants onion rings,” she said.
The future is bright for Misha Murphy and her food truck, but she still hopes to expand to a physical location one day. “I love to cook and consider myself an entrepreneur at heart, but I’m doing this for my family with the hopes that I can keep growing and leave the business to my children and hopefully set future generations up for success. I want them to have choices.”
It all started in 1889 when Ernest Ritter decided to start a business in Marked Tree, Arkansas. There he laid a strong foundation combining business and philanthropy that would extend six generations.
“He had grit. It took savviness and a strong work ethic to build E. Ritter & Company to what it is today,” said Brittney Ray, who married into the Ritter family and serves as chair of the family council. “The family has made a commitment to serving the communities where we do business. The family, in partnership with the company, has built traditions and structure to formalize the process. We want to model for our children what giving looks like. Hopefully, future generations of Ritters will understand philanthropy and stewardship are in their DNA.”
The Ritter family philanthropy committee: Donna Kesting, Randel Wilder, Wayne Clark, Nichola Clark and Lori Ray Pelc
Ritter’s great granddaughter, Mary Ann, was heavily involved with Arkansas Community Foundation as a state board member. Her son, Ritter Arnold, now serves on the state board. Dan Hatzenbuehler, former CEO of E. Ritter & Co., and part of the fourth generation, helped formalize the company’s relationship to the Community Foundation by establishing the Ernest and Anna Ritter Family Endowment.
“The family began gathering every year to stay connected and eventually established a philanthropy committee that works closely with the Foundation,” said Nichola Clark, a fifth generation Ritter and chair of the family’s philanthropy committee. “The mission of that committee is to support and strengthen the communities where Ritter companies operate by providing resources, leadership and collaboration to meet local needs. We focus on hunger relief, education, affordable housing and health.
“We want our philanthropy to be community-led,” continued Clark. “That starts by listening and looking at data from Aspire Arkansas. In Marked Tree, only 11% of students are reading proficiently by the third grade. So we’ve partnered with local nonprofits, along with Excel by Eight, an organization that the Foundation connected us to. Through their resource grid and guidance, we’ve developed a holistic plan called ‘Marked Tree 2030’ with the goal of significantly improving literacy rates there.”
The Ritter family held their annual family gathering at the NASCAR Museum in Charlotte, North Carolina in November.
As the company grows, so does their philanthropic footprint. “People have moved away from Marked Tree, and the company will change, but philanthropy will remain. The sixth generation, or ‘6Gs’ as we call them, are already learning how to make granting decisions and be charitably minded,” said Clark.
“We want our giving to be impactful. But some of the greatest value we all get is the bonding that happens when we give back to the place it all started. I truly believe that philanthropy is what keeps our family together, hopefully for many more generations.”
Nestled in the north region of the Ozarks are two generations of financial advisors who continually refer clients to the Community Foundation and mindfully invest in the local community.
In the spring of 2002, Sam Rhoades, then a financial advisor in Mountain Home, along with other leaders like Judy Loving, Ed Matthews, and Pat Lile, worked together to start the Twin Lakes affiliate of the Community Foundation. In later years, Estella Tullgren, now Sam’s wife, would lead the affiliate.
“While working with clients as a certified financial planner, I noticed that several of my charitable clients were donating to nonprofits outside our community,” Rhoades said. “The Foundation was a great way to channel those donations locally. I worked closely with estate attorneys like Randall Drake to bring new fundholders to the Foundation and develop deferred endowments, many of which are beginning to materialize now.”
Sam and Jackson Rhoades
His son Jackson Rhoades is the president and CEO of Financial Services & Investment Strategies Group (FSISG). The younger Rhoades has followed in his father’s footsteps as a certified financial planner who expertly manages his clients’ portfolios. He not only refers clients to the Foundation but also holds multiple funds of his own. The FSISG team works to integrate investment management with philanthropic, tax and estate planning.
“I enjoy investing to help good things become extraordinary. Through my fund, I support several causes like education, health, and wellness, among others,” Jackson said. “My local favorites are the hospital, Baxter Health, hospice, Mountain Home Public Schools, and the Rotary Foundation, but there are many more. When a co-worker and friend tragically passed away, I started David’s Trail, a 501(c)(3) to remember his community contributions — resulting in the Ozarks Keystone Trail.”
“Jackson has always been interested in doing things that improve the community,” said Sam. “His mother, Mary, set a great example for giving to others. Jackson, Becca, and the FSISG team have grown the business and the number of charitable funds.”
“My mom and dad led by example,” said Jackson. “So, I have spent years giving my time, treasure, and talents to community service and volunteerism. I took graduate classes in philanthropic leadership and design while Dad focused on kickstarting the Twin Lakes affiliate. While my professional focus is optimizing portfolios for growth and income, my philanthropic aspirations are to improve communities and local charitable organizations with permanent income streams. I love both, doing good work with clients.”
Sam Rhoades laid the groundwork all those years ago for a solid philanthropic culture in his business, his family and the Twin Lakes region. Jackson is building on his father’s legacy through his leadership at FSISG.
“Clients love how well their endowments with the Foundation can carry their stories forward, providing perpetual funding for the causes they care about,” continued Jackson. “Their funds allow them to align their stories and interests with elegant efficiency and to make changes when they see fit. While we mourn clients’ passing, we celebrate their memories via the perpetual community assets they leave behind.
“Philanthropic planning is its own reward. Arkansas Community Foundation allows our clients to connect their portfolios with what matters to them in flexible and innovative ways and continue to support those organizations for many generations.”
That powerful quote is attributed to Nelson Henderson, whose son immortalized his father’s words in a book about growing up on their family farm. It reminds me that we have all benefited from the shade of trees planted by the generations before us, so we too are obligated to plant trees for the generations that will come after us.
That is the essence of philanthropy, and the essence of Arkansas Community Foundation, where for almost 50 years our donors, grantees, community partners, and friends have been planting seeds with the promise of making our state better for future generations.
The Foundation wants Arkansas to be a place where our kids want to raise their kids. In this report, you’ll read how multiple generations across Arkansas are making this a reality. From Mountain Home, where the father-son duo of the Rhoades family have helped their clients become philanthropists for more than two decades. To Marked Tree, where fourth, fifth and sixth generations of the Ritter family are working to improve early literacy rates. To DeWitt, where Misha Murphy, an entrepreneur and mother of two, is building her Delta-based food truck business thanks to a loan from one of our impact investments. And finally, to three generations of the Van Horn family who are serving our Pope County Community Foundation that is making more local grants than ever before.
These stories and the impact of our statewide grantmaking are sustained by a commitment to strategically investing now for future generations. I am proud to report that in fiscal year 2024 alone, we grew our asset base to more than $744 million and deployed $52.9 million in discretionary and donor-advised grants.
While the shade of trees planted before us continues to grow, thank you for joining us as we plant and sow more seeds for generations to come.
