The new tax legislation will impact
most taxpayers and also presents a unique opportunity for 2017 year-end giving,
particularly using donor-advised funds.
Here are few tax implications you
might consider as the year comes to a close:
The tax reform increases the standard
deduction so that fewer individuals will itemize deductions in 2018. If you are
unlikely to itemize your deductions under the proposed new law, consider making
a gift in 2017.
In 2018, many taxpayers will have a
lower tax rate. To maximize the charitable deduction, consider making or
accelerating your gifts in 2017.
Donor-advised funds allow you to make
a gift now and choose in 2018 which charitable causes to support – and even
beyond. We can help you create a donor-advised fund before the year ends.
The last business day of 2017 is next
Friday, December 29.
We recommend consulting with your
financial and legal advisors to determine the best giving solutions for your
individual or business circumstances.
Arkansas Community Foundation is your
partner in smart giving and we’re ready to help you make the most of the
changing tax landscape. Thank you for your trusted partnership and best wishes
for a very happy holiday season.
In Service, Heather Larkin, President & CEO
Visit Advisor’s Corner for
more news, tips and tools for professional advisors.
Produce, included in food distributions from the Food Bank of Northeast Arkansas for just the past couple of years, is donated by growers, grocers and companies to help feed families in need.
“What efforts do we want to support
in a sustainable way? What opportunity should we be exploring as a new way to
combat hunger in our community? Those
are key questions Arkansas Community Foundation affiliates ask before every
grant cycle of their Stop Hunger Funds.
When Aspire Arkansas data first came
out in 2011, and before that in 2008 when an Arkansas Community Foundation Stop
Hunger online initiative helped food charities during the recession, several of
the 28 Arkansas Community Foundation affiliates determined that the fight
against hunger would be one of their priorities.
Dick Freer, chair of the Craighead
County Community Foundation Hunger Committee, said their goal is to build
relationships where there is food insecurity, boost community support for the
need and become a catalyst for making change.
Three Hunger Committee members went
to the Student Council at Success Achievement Academy, a Jonesboro alternative
school, to ask about hunger. “We got blank looks at first,” said Freer. “But
the initial discussion got students thinking about their peers who were food
insecure and eventually turned into a Food Race where students bring food to
supply a food pantry on campus.”
“The Aspire Arkansas data was a
catalyst for our stop hunger efforts,” said Freer. “It raised the level of
awareness about the issue and identified hunger as one of the most pressing
needs in our area. If we use our $8,000 to $9,000 a year in grant money to fund
innovation, we can really make a difference.”
Many in Craighead County are
realizing how much good could happen if fresh fruits and vegetables were more
affordable to low income citizens. A physician on the committee came up with
the idea that doctors could prescribe fruits and vegetables to low income
patients so they could be reimbursed for the money they spend on these healthy
foods.
The Craighead County affiliate has
been instrumental in setting up the second Friends and Neighbors Network in
Arkansas. A national FANN staff member from Atlanta trained volunteers to
develop a community of people who are food insecure. These FANN members meet
twice a month to unload and distribute healthy food that provides them an
ongoing source of supplemental nutrition.
“The Truck Patch, an organic food store in
Jonesboro, has worked with our FANN,” said Charles Harris, FANN
coordinator. “Their generosity has added
to the quality of food we can distribute.”
Some of their grants fund more
traditional hunger programs. For instance, students in the Jonesboro Hispanic
Center’s after school program enjoy healthy snacks like a choice of peanut
butter crackers or apples and milk courtesy of a Community Foundation grant. A
review of food pantries receiving grants that ensured minorities were
represented led to a connection with New St. John Missionary Baptist Church
food pantry.
Jennifer McCracken, executive
director of the Cross County Community Foundation, said most hunger-related
grants are determined by their local advisory board. For every grant they are
able to make in the fight against hunger, they get 20-25 applications. About 70
percent of their hunger-related grants go to food pantries and backpack
programs.
Their official Stop Hunger grants are
awarded by the Youth Advisory Council. “It is good for youth to be a part of
this,” she said. “The hunger grants give our young people a sense of making a
difference where the need is great.”
Recently, the Cross County affiliate
began working with a new nonprofit, 363 Feed the Need, led by Phoebe Curtis and
Julie Boone. “We are tackling the problem of hunger through a backpack program
and an event called The Table, where we served 400 plates of food to a diverse
mix of people at an Interfaith event in Wynne,” Curtis said. “Lots of people
help the hungry on Thanksgiving and Christmas. We want to help the other 363
days of the year.”
The 363 backpack program started in
January of 2016 with 34 students and now they are stocking 125 backpacks each
Friday. The cost is about $150 per child for the school year. Volunteers, youth
groups and others pack the food that goes home with students on Friday
afternoons at Wynne Primary, Intermediate and Junior High. Soon, they’ll be
scheduled to work with the local high school.
“Access to weekend food relieves
stress about where the next meal will come from. It helps alleviate mental,
physical and emotional stress,” said Curtis. “The Community Foundation here has
made a big impact with grants to us and others who work to stop hunger. There
is no way we would be able to do our work without them.”
Dana Stewart, executive director of
the White County Community Foundation, said the affiliate has
been working on food insecurity
programs for more than a decade. They have made grants to Beebe School District’s
Badger Family Food Pantry and to senior programs like the Bald Knob Senior
Center. “At Bald Knob like most rural programs, volunteers who run the center
do the grant writing, cooking – they do everything,” Stewart said.
Because the White County affiliate
knows ending hunger will be difficult, they made a grant to purchase shelving
to help sustain the program rather than only purchasing food and promoting
smart shopping training that shares tips like buying dried beans instead of
canned to stretch the budget.
“When we look at the Aspire data and
other research, we see that hunger continues to be a real issue for our
county,” Stewart said. “We may not have the numbers some other counties have,
but in our local school district in Searcy, 40 percent of the students are on
reduced or free meals. So this is not just a rural problem for us.”
A recent grant was made to Della’s
Panty in a rural part of White County. Della Pantry volunteers told these
stories:
“One of the things that strikes me
the most is the percentage of our families who are older and are raising
grandchildren. I would estimate that nearly 25 percent of all the families that
visit our pantry are senior adults with at least one grandchild in their care.
They live on a fixed income and struggle to provide for the children so they
are resorting to visiting our pantry for help.”
“It’s sad how so many folks are
struggling to get by right now. We see so many that are barely surviving. I’m
glad we are here to help a little and give them someone to talk with. We try to
find words of encouragement for them, but sometimes it’s hard to do when we
hear of their situations.”
“A lady who has been battling cancer for several years came in today. Her daughter and grandchildren have just moved in with her and her teenage son. Her husband died of cancer about three years ago. She isn’t able to work, and with so many in the house to feed, she is coming to us for help.”
This story is from our November edition of Engage Magazine.
December is an ideal time to give to
the charities you support in order to claim a charitable deduction on this
year’s taxes. But what if you aren’t sure which causes you want to
support?
Perhaps your business performed
better than expected this year, you inherited assets from a loved one or you
simply haven’t had time to focus on your charitable giving this season. You
know that there are tax benefits to making a charitable donation at year-end,
but you don’t want to make a hasty decision simply to meet the Dec. 31 deadline
to claim a tax deduction.
Here’s how Arkansas Community
Foundation can help:
Take Your Time. When you partner with the Community
Foundation, you can create your own charitable fund to benefit the causes you
choose. If you make a donation to start your fund (or add to a fund you’ve
already created) by Dec. 31, the gift is fully tax deductible to the extent
allowed by law on your taxes. After the new year, you can spend time
considering which charities you’d like to support with grants from your fund.
If you prefer, you can support the same organization/s on an ongoing basis, or
you can make grants to different charities every year.
Get the Information You Need. If you need help identifying
organizations that are working to address the issues that matter most to you,
we’ve got tools to help.
Our donor services staff can help you research charities serving a particular cause or area.
You can gain a better understanding of the needs in your community by reviewing our Aspire Arkansas report, which provides county-by-county data on dozens of quality of life issues in Arkansas.
Or, we can even send you grant proposals from local charities who need support for specific projects. There’s no obligation for you to fund any of the proposals unless one interests you.
Support Multiple Nonprofits. With a single gift to the Community
Foundation, you can support dozens of nonprofits. Here are a few ways we can
help you make a broad impact:
You can designate that a certain
percentage of your fund be used to support specific nonprofits each year. This
is a great option if you want to provide long-term support for a handful of
favorite charities.
You can also create a fund that
allows you the flexibility to choose different causes to support from year to
year. This option is great for families that want to involve their children in
the giving process by allowing them to choose projects fund each year.
You can even donate to the
community-based Giving Tree Endowment in your area; grants from these
endowments are selected by committees of local leaders and are used to support dozens
of charitable projects each year.
It’s not too late to make a
difference this year. Contact our development staff to find out how to get
started. We’re in the office through Dec. 31 to help meet your charitable
giving needs.
by Jody Dilday
There’s no denying it…cooler temps, changing leaves, and the “fall back” from Daylight Savings Time all signal that the HOLIDAYS are here!
For many of us, the end of year is an ideal time to make charitable gifts. Every day, Arkansas Community Foundation works with Arkansans help them achieve their charitable goals for tax benefits, while helping make a difference across the state.
Here are 4 tips to help you giving at year-end:
Give an asset that provides you with the maximum tax benefit. You know the old saying, “cash is king”? Well….that’s not always the case. Sometimes it makes more sense to give a non-cash gift to charity. Doing so can help you reduce capital gains, avoid estate taxes, or minimize taxable income, thereby supporting your overall financial strategy. Talk with your professional advisor about what makes the most sense for you and your goals. Arkansas Community Foundation is equipped to accept complicated gifts and distribute the proceeds to your charity of choice. We’d be more than happy to help.
Utilize a giving tool that best fits your income level, your tax-savings goals, and your philanthropic priorities. How you give to charity may differ from your neighbor or depending on your stage of life. Whether you give modest annual gifts to causes you care about, want to continue supporting an organization close to your heart forever, or have the means to make a larger impact…the Community Foundation has flexible tools.
Fund general operations to make the greatest impact for the organization you believe in. At year-end, most nonprofit organizations are striving to meet their budget. Gifts in support of general operating expenses are incredibly beneficial. These “unrestricted” gifts empower the organization to determine where and how the money will be used—whether for a major program development, hiring additional staff, or simply maintaining their facility. Unrestricted donations also provide the charity flexibility and security to advance its mission by planning initiatives for the following calendar year. Similarly, a gift to your community’s Giving Tree endowment enables the Foundation to plan for and respond to the ever-changing needs in your community.
Give Where You Live! By all means… give to support medical research, fund projects that provide clean water, or sponsor a global mission. But remember to Give Where You Live as well! At the Community Foundation we ASPIRE to improve the quality of life for all Arkansans. Let’s work together!
As the end of the year approaches,
remember your friends at the Community Foundation are ready to help you.
Only 37% of Arkansas third graders
read proficiently, according 2016-2017 school year data from the ACT Aspire
assessment.
Thirty-seven percent.
A mountain of education research
confirms that third grade reading levels are a strong predictor of future
success in school and beyond. So what can we do to move these numbers in the
right direction?
The Arkansas Campaign for Grade-Level
Reading is working to advance some simple, evidence-based strategies to achieve
the goal that every child in Arkansas will read at grade level by the end of
third grade. Arkansas Community Foundation has announced a partnership with the
Campaign for Grade-Level Reading to make grants targeted at those five
strategies. As a part of that partnership, we’re supporting programs the keep
kids reading throughout the summer months; we call it our Summer Learning
Initiative.
Why does summer learning matter?
When students are away from school
over summer break, many of them – especially those from low-income backgrounds
– lose as much as two to three months of reading skills. This “summer slide”
can set kids as much as three years behind their peers by the end of elementary
school.
What is the Community Foundation
doing?
Each year for the past three years,
we’ve offered funding for communities across Arkansas that are hosting
high-quality summer camps that keep kids engaged during the summer months
through academic and social enrichment.
What results are we seeing?
We’re seeing exciting results from
the communities participating in the Summer Learning Initiative. In Year 1 of
the program,
What have we learned?
Not only are these programs having a
positive impact on students’ literacy scores; they’re also having a positive
impact on behavior and students’ sense of belonging at school, according to the
administrators participating in the program. It’s a win-win!
What can you do?
If you’re interested in supporting
the Summer Learning Initiative or other efforts to increase reading scores in
Arkansas, contact us at 501-372-1116.
Three years ago Danna Blubaugh saw a
television news story about AR Kids Read’s immediate need for 300 tutors. She
responded by going to the organization’s website and signing up to tutor at
McDermott Elementary School in Little Rock. The mother of three young adults,
Blubaugh had never been to the school before becoming a tutor.
Brightly colored walls, large
photographs of students in action and an outdoor courtyard make McDermott an
inviting learning environment. Principal Amy Cooper said reading tutors are an
amazing addition to the school even beyond improving reading skills, “We are a
school shaping the whole child. Having community volunteers come in helps our
students understand what it is to give back and shows them that one day they
can give back to children in their community.”
Blubaugh helps students from two
second grade classes and has learned that most students see the ability to read
chapter books as a big landmark. “The one-on-one experience with tutor creates
a safe space for the students to learn,” she said. “Really, it is all about
building their confidence.”
Teachers match students with tutors
and provide books at the students’ reading levels, but Blubaugh brings a few
tools of her own. She uses flash cards to help with word recognition and has
found that a sticker book is a great icebreaker because all kids like stickers.
“I had to go online and get a new set
of ‘Ranger Rick” because I love that magazine. Everyone likes to talk about
animals,” Blubaugh said. “One of the things I like most is that I get to relive
teaching my own kids to read.”
It gives her great joy to get to know
the students, interact with them and make them better readers. “When they get
interested in the story and want to read more and more, that is a success. What
we are doing is instilling a culture of reading,” Blubaugh said.
She is not a professional teacher,
and that is not a requirement for tutors. They can spend as much time at the
schools as they choose since there are different levels of commitment in terms
of hours per week. Blubaugh has been very happy with the support she receives,
including seminars and packets of information that help tutors be more
effective.
“Do it,” is her advice to those on
the fence about being a reading tutor. “You get more out of it that you could
ever give — the kids are always surprising you.”
After leading two successful
businesses, raising kids, serving their community and traveling the globe, Bob
and Cynthia East of Little Rock decided to start a fund at Arkansas Community
Foundation that will benefit the causes they care about.
“I had looked into starting a family
foundation but there was a lot of paperwork involved and it was so much easier
to set up a fund at the Community Foundation,” said Bob, chairman of the board
of East Harding Construction, which he helped found 43 years ago. “The
Community Foundation fund is a good way to have a growing resource that we can
use for a long time into the future.”
Bob has a history of service to his
community as past chairman of the Little Rock National Airport Commission and a
member of the Arkansas Game and Fish Foundation. He is now a board member for
the Downtown Little Rock Partnership and the Arkansas Workforce Commission.
But at heart he is an adventurer. He
climbed Mount Everest almost 30 years ago, has run with the bulls at Pamplona
and floated down the Mississippi from St. Paul to New Orleans. Where was
Cynthia? At base camp on Mount Everest, at the end of the course in Pamplona
and helping as crew at stops along the Mississippi.
In between global adventures, she
owns and operates Cynthia East Fabrics, a 40-year Little Rock institution
providing quality, decorative fabrics. Cynthia has served on the boards of the
Winthrop Rockefeller Foundation and Volunteers in Public Schools. Her passion
is public education, and she’s been a public school advocate since before their
two adult children were students.
“My parents were involved in the 1957
crisis and that got me on the right side of the issue. I feel I got a great
education, and I want to see that happen for every child.”
The Late Kay & E. G. VanTrain Cleburne County
The late Kay and E.G. VanTrain had a passion for their community and wanted their charitable giving to have a broad impact.
Sitting at a grant awards ceremony in Cleburne County in 2007, Kay VanTrain wondered why the grants seemed relatively small. The executive director explained that as part of Arkansas Community Foundation, the local office is a part of a statewide network creating endowments and making grants across the state, and that the local board was developing a pool of funds to grant out locally. Kay said, “Well, we want to join!”
The VanTrains recognized the Community Foundation’s potential to serve a wide variety of worthy causes and to protect and grow charitable funds. They had owned several telephone companies across Arkansas, so they used telecommunications stock to establish a fund that would give back to the state where they dedicated their life’s work. The VanTrains liked the idea that a single gift to the Community Foundation could affect the entire community, and they knew that greater impact could be made if the organization had a larger pool of funding for its annual grant cycles.
Their generosity sparked a community-wide challenge to increase grant funds in Cleburne County. In fact, grant awards doubled the following year, and the VanTrain’s legacy continues to impact their community.
Children enjoy the Lindsey Robison East Playground at OurHouse, an organization that provides shelter and education for homeless adults and children in Little Rock.
Lindsey East would have celebrated
his 50th birthday this summer. In contemplating her son’s untimely death and
this missed milestone, Laetitia East muses that Lindsey is “ageless.” We agree.
His giving spirit lives on through his dear friends and family and, in part,
through the charitable funds he established while he was alive.
In addition to continuing to support
programs like Our House that advocate for Arkansas’ homeless, the East
endowments have most recently funded Arkansas Interfaith & Light’s Promise
Garden, a collaborative community garden in the 12th Street corridor that
encourages fresh local nutritious food, and the Southern Center for
Agroecology, a nonprofit that promotes the development of sustainable local
food systems through research and applied science.
To honor Lindsey’s legacy and the
countless lives he continues to affect, we would like to revisit his Community
Foundation story which can be found here:
Even After His Lifetime, Lindsey
Robison East’s Giving Makes an Impact
“He was always unique in his
sensitivity to people and the environment,” said Laetitia East of her son,
Lindsey. “He loved the earth and really felt he could make change happen in the
world.”
Arkansas Community Foundation came to
know Lindsey East in 2003 when he contacted CEO Heather Larkin to inquire about
“what we do here.” Born and reared in Little Rock, he had been living in
California, exploring the possibilities of his own talents in theatre, writing
and music. He had a playful humor and
spoke from his heart, taking genuine interest in personal stories. When he’d
see someone he knew, he’d remember some small thing that showed he listened and
took an interest in what they had to say.
Lindsey met all people with total acceptance and had friends from all
over the world.
When he returned to Arkansas, Lindsey
soon became a personal friend to the Community Foundation. In 2004, he started
his first endowment at the Community Foundation focusing on food sustainability
and bicycle advocacy. Five years later
he began a second endowment to support initiatives for the homeless in Arkansas.
Our House, an organization that provides shelter and education for homeless
adults and children, dedicated a playground in Lindsey’s name for his support.
On July 9, 2011, Lindsey suffered a
heart attack and died while piloting his small plane. But the legacy he
established with the Community Foundation lives on. His final gift to the
Community Foundation by way of his trust created an endowment promoting
greenhouse projects, community gardens, recycling programs and local food
initiatives. About two years after Lindsey’s death, the Community Foundation
learned that a new food enterprise, the Farm and Food Innovation Center, was
being formed at the former St. Joseph’s Home in North Little Rock by one of
Lindsey’s old friends, Jody Hardin. With East’s wishes to support local food
sustainability projects in mind, the Community Foundation issued a start-up
grant from Lindsey’s endowment to the Center.
Because of Lindsey’s charitable
vision and foresight, the dream of the Farm and Food Innovation Center is
becoming a reality. Already the Farm and Food Innovation Center has impacted
hundreds of Arkansans, who have visited the grounds as volunteers and
participants of local, sustainable food education initiatives. In collaboration
with Heifer USA, FFIC works to support Delta growers and empower them to become
involved in the profitable local organic food market. In addition, twelve
community gardening plots have been constructed with the help Eagle Scouts and
90 at-risk youths participating in the National Guard Youth Challenge program
who provided community service hours while learning essential skills in organic
gardening and farming.
In East’s memory and honor, a
permaculture project on the grounds has been named the Lindsey East Food Forest
to Feed the Hungry.
“Lindsey would be so proud of this,”
said his mother, Laetitia. “He will be
remembered for giving to the things he loved and believed in. Nothing would
make him any happier.”
Jane Hunt’s charitable path has been molded by her family’s practice of encouraging generosity. Her parents J.B. and Johnelle Hunt, well-known for successfully building their trucking company, understood the importance of giving back to the community and raising their children to do the same.
Through the years, Jane has had the opportunity to passionately support a variety of causes. Her generosity has stretched from nonprofits that support education enrichment programs to organizations that help women and children build a stable and successful life. When the Northwest Arkansas Women’s Shelter was on the brink of closing their doors, Jane offered a matching incentive to help them continue their mission providing necessary services. Additionally, through funding prize dollars for ArkansasGives, she has been able to support the invaluable work that the entire nonprofit sector offers our state.
By making Arkansas Community Foundation her partner in giving, Jane believes her role as a contributor has been made easy and more purposeful. “The Community Foundation provides the information I need to make educated decisions about where my charitable dollars are well spent. I feel confident that I have the tools I need to make a difference for the long-term.”