Since establishing Conger Wealth Management in 2005, Cindy Conger has empowered her clients to make financial choices with confidence. She is known nationwide for fee-based financial management customized to client needs. Cindy gives sound financial advice and uses proven planning tools to achieve her clients’ goals.

Her clients stick with her because she gets to know them personally—their families, the nuances of their businesses and their reasons for giving back. Cindy is a Community Foundation superstar. Not only does she refer her clients to the Foundation for their charitable giving, but she is a fundholder giving back to local causes (and has started involving her family, too) year after year.

“There are several reasons I refer my clients to the Community Foundation. One obvious reason is for tax purposes. My experience with Donor Advised Funds is that it is one of the best ways for clients to reduce their tax liability. Donor Advised Funds are great because you don’t have to decide what you want to do with the funds now, but you get the tax benefits for that year. It’s a great way to invest. I’ve never seen that go wrong!” said Cindy.

Cindy Conger, CPA/PFS, CFP

She knows. She has more than 35 years of experience helping her clients manage their money. Her advice right now? “Open a Donor Advised Fund. It will become exceedingly important over the next few years for people to understand how to leverage the benefits of charitable giving,” said Cindy. “Not to mention the personal satisfaction that you get when you are making a difference with your money.”

Cindy helps clients statewide with what she calls niche giving. “Through the Foundation, my clients have access to the full portfolio of charitable causes that the Foundation works with. So, you don’t have to open a fund or make a commitment right away; their affiliate network and broad range of charitable options gives people choices and time. For example, I have clients in Wynne who wanted to help rebuild the downtown area there. This wouldn’t have been possible without the guidance and support of the Foundation’s experienced staff and their knowledge of local causes.”

As a successful woman in a male-dominated field, Cindy is often asked to speak nationally to peer groups and conferences for professional advisors. When the topic of charitable giving comes up, she always boasts about the benefits of utilizing a community foundation to help clients achieve their charitable goals.

“You don’t get the same level of connection and service when you use a Schwab or Fidelity. The local connection that Arkansas Community Foundation has statewide is key. They know the local needs and help people dig deep in their hearts and financial portfolios to make a real difference,” said Cindy.

Personally, she is passionate about investing in education for women. At 28-years-old, Cindy went back to school and earned a degree in accounting. “My education changed the trajectory of my life. I want more women to have the opportunities that I did,” she said.

“Because of that, one of my favorite organizations to support is the Women’s Foundation of Arkansas. They were my first big donation. They have programs that help bring education to women. For me, education was key to my success. I was able to build and sell my business and I want more women to know what that feels like, and to know the joy of making a transformational gift. Because of tools that the Community Foundation provides, I can give to them now, and will give to them long after my death. That brings me great satisfaction and pride.”

Pocahontas, Ark. (Feb. 4, 2021) – Melody Rainwater has been named Executive Director for North Delta Community Foundation, serving Clay, Randolph and Lawrence Counties.  Founded in 2019 as the 29th affiliate of Arkansas Community Foundation, the goal of North Delta Community Foundation is to continuously evaluate and meet the complex needs of the local community through equitable grantmaking and education.  

“Melody has a strong desire to work with others to make a positive impact,” said Heather Larkin, Community Foundation president and CEO. “Her experience as a speaker, team leader and event coordinator with Arkansas State will help our newest affiliate become a moving force for the North Delta community.” 

A native of Jonesboro, Rainwater was previously the training and development coordinator at Arkansas State University Human Resources in Jonesboro. She also served as applicant tracking coordinator and HR assistant at the University. She received a Bachelor of Science degree in Journalism from Arkansas State in 2015. 

“I am delighted to welcome Melody Rainwater into the role of Executive Director. I know her experience will make her a valuable asset to not only the North Delta Community Foundation, but to the entire region,” said Graycen Bigger, North Delta Community Foundation chair. “I look forward to working with her to support community development and charitable giving in the North Delta area.”  

In December of 2020, the affiliate announced $6,100 in Giving Tree Grants for nonprofits benefiting Randolph, Lawrence and Clay Counties. The North Delta Community Foundation currently makes grants through the Giving Tree program annually. The next grant cycle will begin in July 2021. More information about Community Foundation grants and the North Delta Community Foundation is available at www.arcf.org/northdelta.  

### 

Arkansas Community Foundation offers tools to help Arkansans protect, grow and direct their charitable dollars as they learn more about community needs. By making grants and sharing knowledge, the Community Foundation supports charitable programs that work for Arkansas and partners to create new initiatives that address the gaps.  Since 1976, the Community Foundation has provided more than $310 million in grants and partnered with thousands of Arkansans to help them improve our neighborhoods, our towns and our entire state. Contributions to the Community Foundation, its funds and any of its 29 affiliates are fully tax deductible. 

Little Rock, Ark. (Feb. 9, 2021) – Scholarships are now available for eligible Arkansas students through Arkansas Community Foundation.

Each scholarship has its own eligibility criteria; in general, 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. 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.

“Since 1976, the Community Foundation has partnered with individuals and organizations who want to support 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.”

Scholarships with statewide eligibility include:

  • Abigail Robertson Scholarship Endowment, provides a scholarship for female students pursuing a business degree at a college or university in Pulaski County
  • Anne Pressly Scholarship Endowment, to memorialize the legacy of Anne Pressly and support a graduating high school senior woman who plans to pursue a career in Journalism
  • Arkansas Service Memorial Scholarship Endowment, for students who are children of Arkansans who lost their life in service in the state, nation or community
  • AT&T War Memorial Scholarship Fund, for Arkansas veterans enrolling full-time at an accredited two- or four-year college or university in the state of Arkansas
  • East Student Scholarship Endowment, provides a scholarship to a graduating senior who attends any high school with an EAST program
  • Elizabeth G. Redman Republican Party of Arkansas Scholarship Endowment, for students who are members of or active in the Republican Party of Arkansas
  • Herchel and Melba A. Fildes Endowment, provides a scholarship to students studying nursing and attending Harding University in Searcy, Arkansas or Arkansas State University in Beebe
  • Lillian McGillicuddy Republican Party of Arkansas Scholarship Endowment, for students who are members of the Arkansas Federation of Young Republicans or are active in the Republican Party of Arkansas
  • Lu Nedrow Graduate Scholarship Endowment, provides a scholarship for a member of the Epsilon Zeta Chapter of Alpha Gamma Delta at Arkansas State University in Jonesboro who is pursuing a graduate degree
  • Marie and Bob Marshall Republican Party of Arkansas Scholarship Endowment, for students who are members of or active in the Republican Party of Arkansas
  • Merwin T. and Agnes Bowman Nursing Scholarship Endowment, for students seeking a Bachelor of Science in Nursing or equivalent degree from a qualified institution.
  • Poultry Federation Scholarship Fund provides scholarships to students pursuing a degree related to the poultry industry and attending a school in the University of Arkansas system, Arkansas State University system, Arkansas Tech University or Southern Arkansas University
  • Robert P. Atkinson Hospital Leadership and Scholarship Fund, provides a scholarship to students pursuing an advanced degree with an emphasis in healthcare and/or hospital administration
  • Roy Burlison Honorary Scholarship Fund, provides scholarships to high school seniors who are fast-pitch softball players in the state of Arkansas
  • Ryan Mondy D.A.S.H. Memorial Scholarship Endowment, provides scholarships to graduating seniors whose lives have been affected by cancer

To apply, and for more information about these and other scholarships, visit  www.arcf.org/apply/scholarships/. Deadlines for scholarship applications differ and can be found on the application portal. Arkansas Community Foundation is a nonprofit organization that fosters smart giving to improve communities. The Community Foundation offers tools to help Arkansans protect, grow and direct their charitable dollars as they learn more about community needs. By making grants and sharing knowledge, the Community Foundation supports charitable programs that work for Arkansas and partners to create new initiatives that address the gaps.  Since 1976, the Community Foundation has provided more than $314 million in grants and partnered with thousands of Arkansans to help them improve our neighborhoods, our towns and our entire state. Contributions to the Community Foundation, its funds and any of its 29 affiliates are fully tax deductible.

###

The largest grantmaker in the state, Arkansas Community Foundation is a statewide nonprofit organization that offers tools to help Arkansans protect, grow, and direct charitable dollars while learning more about community needs. The Community Foundation engages people, connects resources, and inspires solutions to build community. You understand your clients’ charitable goals. We understand smart giving. Partnering with the Community Foundation, you stay in control of your client relationships while we provide the tools and resources to make the philanthropic process simple, flexible, and efficient.

Here is what is going on and how the proposed changes might affect charitable giving strategies. 

Under President Joe Biden’s proposed tax plan, taxpayers making more than $400,000 per year would be taxed at a top income tax rate of 39.6%, an increase from 37% under current law. That would mean charitable giving would become more advantageous under the new law for some taxpayers.

A separate provision in the proposed plan, however, would impose a 28% limit on charitable deductions for taxpayers who make more than $400,000 per year. This would mean that instead of avoiding income tax on charitable gifts at the rate of 39.6% as described above, these taxpayers would escape income tax only at a rate of 28%. (A similar provision was proposed, but never enacted, during the Obama Administration.) 

The tax proposal also calls for increasing—from a maximum rate of 20% to 39.6%—the capital gains and dividend tax rates for taxpayers whose annual earnings exceed $1 million. For affected taxpayers, this change would create opportunities to avoid significantly more tax than is possible under current law for gifts of appreciated assets. An increase like this would create a huge incentive for philanthropists to support charitable organizations.

Next, the tax proposal calls for a 3% reduction of itemized deductions for taxpayers making more than $400,000 per year. This is reminiscent of the so-called “Pease Amendment” that was repealed in 2018. Although the reinstatement of this rule could have some negative effects on charitable giving, the rule’s impact would be blunted for taxpayers for whom the reduction is absorbed by other types of itemized deductions (mortgage interest payments, for instance).

Perhaps the component of President Biden’s proposal with the biggest potential impact on ultra-wealthy philanthropists is his intention to raise estate taxes and change the way capital assets are taxed after death. 

Currently, the gift and estate tax exemption per person is $11.58 million and $23.16 million for a married couple. These amounts are effectively double what they were before the Tax Cuts and Jobs Act of 2017 (TCJA). The TCJA calls for an automatic sunset of these increases on December 31, 2025, at which point the exemption will drop back down to $5 million per person, as adjusted for inflation. Under Biden’s proposed tax plan, though, the estate and gift tax exemption and rates would be restored to the lower levels of more than a decade ago.

In addition, Biden’s proposal calls for substantial elimination of the step up in basis from the taxpayer’s cost to fair market value at the time of death, further complicating existing estate plans for many families. Some philanthropists have deferred charitable gifts to 2021 under the assumption that tax laws will change dramatically.

Despite the uncertainty about exactly what might happen with the tax laws in 2021 and beyond, there are still opportunities for you to advise your charitable clients with conviction that they are doing the right thing for themselves and for the causes they care about. To that end, keep in mind the changes to the charitable contribution deduction for 2021:

  • Extends until 2021 the above-the-line temporary charitable deduction that was included in the CARES Act. Non-itemizer individuals in tax year 2021 can deduct $300 for cash contributions to qualifying public charities, and non-itemizer couples filing jointly qualify for $600. Donations to donor advised funds and supporting organizations are not eligible for this deduction; however, we can create designated funds that qualify for the deduction.
  • Extends for one year the increased limit from the CARES Act on deductible charitable contributions for corporations and taxpayers who itemize. The limits for 2021 will be 100 percent of AGI for individuals and 25 percent of taxable income for corporations


As always, Arkansas Community Foundation can help you develop your clients’ charitable giving plans to maximize impact and tax savings. Contact us at 501-372-1116.

Little Rock, Ark. (Feb. 1, 2021) – Arkansas Black Hall of Fame Foundation, in partnership with Arkansas Community Foundation, is awarding grants to programs that benefit African American or other underserved populations in Arkansas. Nonprofits with programs focusing on education, health and wellness, youth development, strengthening families and small business development are eligible to apply. Grants that mitigate the impact of COVID-19 on these areas will also be considered.

“This year, we are especially grateful to our donors whose consistent support allows us to fund our grant program each year. We are excited to support organizations facing new challenges created by the pandemic. There are many nonprofits working tirelessly in communities throughout Arkansas to improve the quality of life for its citizens,” said Charles Stewart, ABHOF Chair. “This grant program allows us to make our state a better place to live for these communities.”

Since 2004, ABHOF has granted more than $624,000 to nonprofits across the state, with total community investment exceeding one million dollars. Projects supported through this grant program range from mentoring efforts for promising young math and science students to exercise classes for low-income families in rural areas.

“Our long-standing partnership with Arkansas Black Hall of Fame Foundation helps provide a support system for Arkansas nonprofits working to create positive change for underserved populations,” said Heather Larkin, president and CEO of the Community Foundation. “We’re proud of this investment and the programs that continue to support local people working to improve their communities.”

Grants will typically range from $1,000 to $2,500 but may approach $5,000 in special circumstances. Funds from Arkansas Black Hall of Fame Foundation cannot be allocated for salary support or to support general operating budgets outside the specific proposal or project.

Priority consideration will be given to:

  • Requests that show multiple sponsoring agencies/organizations.
  • Requests that include evidence of local financial support (including, but not limited to, in-kind support.)
  • Requests that demonstrate collaborative ventures among organizations within the community.
  • Requests that have promise for sustainability beyond the period of the grant.
  • Requests that show an innovative approach to community challenges.


All geographic sections of the state are eligible. Scholarship requests will not be considered. Only 501(c)(3) nonprofit organizations, hospitals, public schools and government agencies are eligible to apply now through April 1 atwww.arcf.org/ABHOF. Organizations that do not qualify for tax-exempt status are not eligible.

Arkansas Black Hall of Fame Foundation aims to provide an environment in which a future generation of African American achievers with Arkansas roots will thrive and succeed. The Foundation honors the contributions of African Americans through its annual Black Hall of Fame induction ceremony and awards grants to support charitable endeavors in Black and other under-served communities throughout Arkansas. Learn more at www.arblackhalloffame.org.

Arkansas Community Foundation is a nonprofit organization that fosters smart giving to improve communities. The Community Foundation offers tools to help Arkansans protect, grow and direct their charitable dollars as they learn more about community needs. By making grants and sharing knowledge, the Community Foundation support charitable programs that work for Arkansas and partners to create new initiatives that address the gaps.  Since 1976, the Community Foundation has provided more than $314 million in grants and partnered with thousands of Arkansans to help them improve our neighborhoods, our towns and our entire state. Contributions to the Community Foundation, its funds and any of its 29 affiliates are fully tax deductible.

###

The next round of the Rural Relief Small Business Grants Program is now open. As part of their continuing commitment to elevate their impact in rural America, OneLISC is inviting small business owners in rural locations across the country to apply for the LISC-Lowe’s Rural Relief Small Business Grants program. Applications are open 1/26/21 through 2/2/21.

To find who is eligible, how the application process works and to apply, visit the LISC website. Rural LISC is committed to the integrity of the grant application process and to the security of applicants’ information. A couple of things to keep in mind:

  • Valid grant applications are only accepted through the links posted on the LISC website.
  • We will never request copies of personal documentation such as driver’s licenses, passports, and/or green cards.
  • The application is easy to fill out, requiring basic business information – professional grant writing assistance will not increase the chances of selection.
  • Rural LISC works with 92 partner organizations creating sustainable rural communities across 45 states. Visit our website here and if you would like to sign up to receive the Rural eNews each month, click here.

Arkansas Hunters Feeding the Hungry (AHFH) is a nonprofit that began with a deer hunter wanting to provide venison to the less fortunate. Outdoorsman, avid hunter and founder, Bob Barringer, came up with an innovative way to attack poverty and hunger in our state utilizing the increasing deer population.

It is simple. Arkansas hunters can donate all or a portion of their legally-killed deer at over 60 game processors in the state. Donated meat is processed into food that is distributed to those in need.

Ronnie Ritter with the Snack Stick trailer

The program is a great way to match the needs of hungry families with the generosity of deer hunters. With the growing number of deer in Arkansas and very liberal bagging limits, hunters can make a real difference. Many food pantries and other feeding agencies have a difficult time obtaining meat or protein – so the donated venison goes a long way in helping address food insecurity. Since the program started, AHFH has provided approximately three million meals.

One of the most successful initiatives is the snack stick program. This backpack program provides a high-protein snack for kids in need. Ronnie Ritter, executive director of AHFH, began the program back in 2018 and it now serves over 30 schools in the state. The success of the program depends upon the generosity of hunters to donate venison and other wild game, cooperation from meat processors throughout the state, support from local food distribution organizations and the financial contributions of businesses and other citizens. You may see Ritter pulling his trailer delivering meat throughout the year.

Operation of the program costs $100,000 annually, which is raised only through donations and grants. There are three ways for individuals to help.

If you are a hunter and interested in giving back to those less fortunate, you can donate all or a portion of  your next deer to the program. Hunters who do not want to donate all or a portion of their game can make a monetary donation every year through the Arkansas Game & Fish website when they register for their annual hunting license. Or, if you are not a hunter and want to help this program, you can visit www.arkansashunters.org to make a donation.

For more information, contact Ronnie Ritter at (501) 282-0006 or email ronnie@arkansashunters.org.

It doesn’t take much to get Becky and Jim Gifford of Hot Springs Village on board with a good cause and good conversation. Jim, retired from the aviation industry, and Becky, a librarian by trade, don’t hesitate to offer guests in their home a cup of hot tea, share stories about their world travels and show passion for causes they care about. With Jim serving on the Hot Springs Village affiliate board, the couple stepped up in 2020 to help their local community schools. They learned some important lessons along the way.

“Seeing the Foundation’s CEO at the Governor’s press conference made me very proud to be a fundholder with the Foundation,” said Jim. During the early days of the pandemic in Arkansas, people were seeking a way to help. Gov. Asa Hutchinson endorsed the Community Foundation as the best place for Arkansans to give.

Becky and Jim Gifford

“The events of 2020 changed my whole outlook on philanthropy,” said Jim. “We have always tried to give generously. My wife and I both have chronic illnesses, and we support what affects us personally and many other causes. But when the pandemic hit, it really changed my working philosophy on not just where to give, but how to give.”

The Community Foundation staff has helped the Giffords for years with their current and planned giving. “Your Development team makes it easy. Once we learned about the different giving options through the Foundation, we just send an email and ‘boom’ it’s done!” said Becky.

“When we recently updated our estate plan, we changed some of our giving percentages so that the Foundation would have a greater unrestricted amount for their Giving Tree program,” Jim said.

Unrestricted donations are what made it possible for the Foundation to create the COVID-19 Relief Fund in March of 2020. After activating the fund, 799 grants were made to Arkansas nonprofits in four months.

“We wouldn’t have made that kind of decision about our charitable dollars if it hadn’t been for our relationship with the Foundation staff,” said Jim. Relationships are important to the Giffords. In the spring of 2020, their efforts in the Village with local schools through the affiliate office had already laid the groundwork to help mobilize funds when the need arose.

“We know that a gift to the Foundation is an investment to help with the most important issues facing Arkansans. An unrestricted gift provides the Foundation with more flexibility,” Jim said. “I have great confidence in knowing that my charitable dollars are having deep impact across the state.”

A donor-advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about.  Donor advised funds allow you (and others you choose) to recommend grants to a variety of charitable causes. Each year, you can identify new causes to support or continue to be involved with charities you’ve supported in the past. Donor advised funds are the best option for donors who like to take a hands-on approach to giving or who want to involve the whole family in decisions about giving.

Arkansas Community Foundation opposes payout requirements of DAFs, as does the Council on Foundations. Individuals who utilize Donor Advised Funds are already distributing far more than the 5% that is required of ultra wealthy donors who utilize a private foundation for their philanthropy. In fact, we keep close tabs on our statistics here at the Community Foundation and our current payout rate for non-endowed funds is over 14%. 

With regard to the proposed requirement of disbursing funds within 15 years, we consider this requirement unnecessary. Many community foundations, including Arkansas Community Foundation, have much stricter internal policies. Here at the Foundation we require all funds to disburse grants every 36 months at minimum.

And finally, disbursements from DAFs at Arkansas Community Foundation continue to grow, significantly, year over year.  We saw an increase of 17.5% (+$5,879,956) in grant distributions from DAFs in 2020 over 2019.

For more information about this topic the Council on Foundations has created a comprehensive issue paper to help guide you.

You can also download this one-pager to learn more about establishing a donor advised fund at Arkansas Community Foundation and read more about the benefits of creating a donor advised fund.

“The pandemic has been hard on all. It isn’t easy to lose your job, normalcy and sense of security. But we are an innovative society, and inherently, people are good. We can guide ourselves and each other to solutions for staying healthy,” said Dr. Omar Atiq, longtime fundholder with Arkansas Community Foundation. He and his wife Mehreen care deeply about the Pine Bluff community where they have raised their children and lived for most of their lives.

One area he and Mehreen have focused on is education. According to Dr. Atiq, “Education is the best investment we can make to better our society, the earlier we start the better. The more we can help all children in our communities, the better we all are.”

Dr. Omar Atiq and his wife, Mehreen Atiq

When asked about staying healthy right now, Dr. Atiq believes that even small things can have a big impact. “We can make small choices every day to stay safe, healthy and to protect ourselves. By protecting yourself, you protect others. We still need to eat right, exercise, avoid tobacco… but now we should do a little more like frequent handwashing, wearing a mask and social distancing.”

“There are new tools for virtual connectivity that we need to utilize to stay connected to those we care about. We should never underestimate the value of saying ‘hi’ to strangers, doing random acts of kindness or just smiling behind our masks. These small things matter. They matter to the recipient on the other end, but they matter to us for our own emotional health and wellness.”