Page 26 – Arkansas Community Foundation

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.

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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.

“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.”

Little Rock, Ark. (Nov. 20, 2020) – Mattie P. Collins of Pine Bluff is the 2020 recipient of the Lugean L. Chilcote Award, given by the Arkansas Community Foundation board of directors for outstanding service to philanthropy and community. Collins received the award at the Nov. 19 meeting of the board.

“This prestigious award named for a former board member is not given every year, and the last time was 2018,” said Heather Larkin, President and CEO of the Community Foundation. “Mattie exemplifies the spirit of the award through her lifetime of service in Pine Bluff and throughout our state. She is a champion of education and opportunity for all.”

A Pine Bluff native, Collins is a retired teacher with 39 years of experience in Gould and Pine Bluff. She is the president and founder of the Ivy Center for Education, a nonprofit college readiness and youth mentoring program in Jefferson County.

She graduated from AM&N College (now the University of Arkansas at Pine Bluff) with a B.A. in history and political science. Her M.A. in educational administration was earned from the University of Arkansas at Fayetteville. Collins and her husband Kenneth have two children and seven grandchildren.

Among many awards, Collins received the 2020 Educational Achievement Award; 2019 Alpha Kappa Alpha Golden Soror of the Year/South Central Region and other AKA awards; American Red Cross Hero Award; NAACP Dove Civil Rights Award; Kappa Alpha Psi Outstanding Community Service Award; Omega Psi Phi Citizen of the Year Award; UAPB Chancellor’s Benefit for the Arts Outstanding Educator Award; Joseph B. Whitehead Educator of Distinction Award; Arkansas Education Association Human Rights Special Achievement Award; and the Pine Bluff Festival Association Service Award.

Collins is a member of Barraque Street Baptist Church and a life member of Alpha Kappa Alpha Sorority, Inc. With many instances of board service throughout her career, she currently serves as advisor to YAC (Youth Advisory Council) of the Pine Bluff Area Community Foundation; Closing the Achievement Gap State Commissioner; Ivy Center for Education ACT Boot Camp; Partners: Go Forward Pine Bluff; and the UAPB STEM Academy and IT Department.

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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. (Nov. 17, 2020) – Shannon Williams has been named Arkansas Community Foundation’s affiliate officer. With $442 million in assets, the Community Foundation is a statewide grant-making organization providing tools for charitable giving to all 75 counties through its network of 29 affiliate offices statewide.

“Shannon is passionate about serving and advocating for nonprofits, communities and underserved populations. His education and experience make him a great fit for working with our affiliate network across Arkansas,” said Heather Larkin, Community Foundation president and CEO.

A native of Lake Village, Williams administers statewide outreach through the affiliate program and provides liaison support between the central office and local affiliate staff and advisory boards. He is excited to contribute his knowledge and talents to help respond to Arkansans’ needs and achieve the mission of Arkansas Community Foundation to engage people, connect resources and inspire solutions to build community throughout the state.

He most recently served as an organizational development consultant for the University of North Texas System. Before that, he served as an organizational development specialist for Baptist Health System and as the retention counselor for the University of Central Arkansas College for Education’s Partnership for Transition to Teaching Grant Program.

Williams earned a Ph.D. in Interdisciplinary Leadership Studies from the University of Central Arkansas and a master’s degree in Higher Education and three bachelor’s degrees from the University of Arkansas at Little Rock. He is a certified StrengthsFinder Facilitator and a trained coach.

For more information about the Foundation’s affiliate network, visit www.arcf.org/affiliates or call 501-372-1116.

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Appreciated stock, anyone?

Yes, 2020’s stock market has been a rollercoaster, but as you guide your clients into year-end, don’t forget the powerful benefits of giving appreciated securities to a donor-advised fund at the community foundation. Now is the time to start helping your clients with tax planning. Remember, not all stock is down! For many clients, 2020 is an excellent year for year-end giving.

Closely-held business exits

Clients who are preparing to sell a business should start thinking ahead about charitable planning. Before any deal is struck, or any binding commitments discussed, encourage your client to consider the benefits of making a gift of their closely-held stock to a charitable entity, such as a donor-advised fund at the community foundation. Remember, though, that the “step transaction” doctrine is still very much alive and well. The IRS could argue that the transfer of stock to a charity should be treated as “combined” with the sale of the stock, thereby eliminating the tax benefits of the charitable transaction. The IRS could win this argument if the facts indicate that the multiple “steps” in the process were really just a single-step transaction when considering the intent and economic reality of the taxpayer’s actions.

Back door Roth IRA conversions

Last but not least, consider the step transaction doctrine when you are advising your high income-earning clients on whether to pursue the so-called “back door” Roth IRA planning strategy. When a client’s modified adjusted gross income crosses the IRS’s designated phase-out thresholds, contributions to a Roth are no longer permitted. Contributions to a traditional IRA, however, are not subject to income limitations. In addition, there are no income limits on who can convert from a traditional IRA to a Roth. So, with the “back door” strategy, your client makes a contribution to a traditional IRA using after-tax dollars and then executes a tax-free Roth conversion. Consider carefully researching these issues and even advising clients to wait several months between the contribution and the conversion, just in case.

This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.

The significant community needs arising from the events of 2020, coupled with recent tax law changes, make it very important that you help your clients plan their charitable giving strategies.

For the last couple of years, your clients likely have been hearing about a tax-efficient charitable giving strategy called “bundling” or “bunching.” The popularity of this tool increased significantly under the Tax Cuts and Jobs Act provisions that reduced the incentive for taxpayers to itemize deductions on their income tax returns, starting with tax year 2018, because of the now doubled standard deduction. In other words, your clients now have to give a lot more to charity to reap the tax benefits.

“Bundling” or “bunching” can involve using a donor-advised fund to separate the tax event of the charitable gift itself from the financial support of charities. Because contributions to a donor-advised fund at the Arkansas Community Foundation are immediately deductible for tax purposes–but not required to be granted out of the fund to charities right away–your clients can “frontload” donations into a donor-advised fund at a level where they will be able to take advantage of itemizing deductions. Then, your client can recommend grants from the donor-advised fund to their favorite charities according to the timeframe that aligns with their targets for providing philanthropic support to community organizations.

Finally, as you are assisting your clients with their charitable plans, bequests are critical. A report issued by FreeWill cites a 400 percent increase in the number of wills with bequests in March 2020 compared with March 2019. Encourage your clients to think about their legacies, especially as they reflect on the ways 2020 has put a spotlight on just how important it is for communities to be able to rely on sustainable nonprofit organizations to work toward their missions.

This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.