Good news! Earlier in December, Congress enacted a law that allows donors in their 70s and older to give individual retirement account (IRA) assets to charity, free from federal tax, annually.

Why is this a big deal? Prior to 2006, any distribution from an IRA was taxed, even if the funds were given to charity. But now, under the PATH Act, passed on Dec. 18, if you’re 70 ½ years of age or older, you can roll over up to $100,000 from an IRA directly to a charity (like the Community Foundation) without being taxed.

It’s a fantastic way to give more with less!

Is a Charitable IRA Rollover right for you? This option might be a good fit if:

  • You’re 70 ½ or older and receiving IRA required minimum distributions, but you don’t need the extra income.
  • You want to make a significant gift during your lifetime, rather than leaving these assets as a bequest in your will.

Through the IRA Rollover provision, you can transfer assets from your IRA to several different kinds of charitable funds at the Community Foundation.* Your options include:

  1. A designated fund, which allows you to specify in advance which charities will benefit from grants made from your fund.
  2. A field of interest fund, which allows you to choose a general charitable cause (such as education, health, conservation, etc.) that grants from your fund will support.
  3. A Giving Tree fund, which allows you to support a specific community in Arkansas. Grants from Giving Tree funds are selected by a committee of local leaders, who accept grant proposals from nonprofits serving that community.

*Contributions to donor advised funds currently do not qualify for the Charitable IRA rollover under the PATH Act.

Want to learn more about whether the IRA Rollover option is right for you? We’d be happy to visit with you and your attorney, CPA or financial planner. Contact Ashley Coldiron in our central office at 501-372-1116) or the Community Foundation affiliate office in your hometown.

Imagine making a charitable donation today that will still be making a difference for your favorite causes 10, 20 or even 50 years from now. How many lives would be touched by that single gift?

When you partner with the Community Foundation, that kind of long-term impact is possible through an endowed fund. Technically speaking, an endowment is a fund that is invested on the markets for future growth. The principal of the fund is never spent, but the investment returns can be granted out year after year to support charitable causes. Over the long term, you can grant many times more than the value your original gift because the endowment continues to generate income as long as it’s invested.

We use a calculation based on the average value of the fund from quarter to quarter to determine how much can be granted each year; that way, even when the financial markets are down, you can continue to support your favorite charities.

 Here’s how it works:

You decide which causes you want to support.  Your endowed fund is your tool to make an impact on the charitable needs that matter most to you. You might choose to focus on a particular issue if:

  • You want to honor or memorialized a loved one by supporting a cause close to his/her heart.
  • Your life has been touched by an experience in a particular issue area; for example, maybe you valued the support of an Alzheimer’s respite care program during a loved one’s illness, or perhaps your life was influenced by early exposure to an arts program.
  • You’ve been a committed volunteer and/or donor to a specific cause and want to provide a source of funding that will continue on even after your death.

Or, you might consider focusing on a particular place, using your fund to support a variety of programs working to improve that community. For example:

  • Do you want to give back to a community that has supported your family or business through the years?
  • Are you active with a wide range of causes in your area? Would you find it difficult to choose just one to support?
  • Are you a committed community leader? Do you want to provide funding so that the work you began can continue for generations to come?

You decide how hands-on you want to be. If you already know which organizations you want to support or you want to involve your children and grandchildren in your giving process, you can create a donor-directed fund. That means we’ll make grants from your fund based on the recommendations you give us each year.

But if you want help identifying the very best charities working to address your favorite cause or you want to ensure that your funds are used to support a wide variety of causes from year to year, you can also tap into the expertise of our professional staff and volunteer advisory committees. Through a foundation-directed fund, we’ll work to identify the best use of your funds from year to year, following any guidelines or parameters you give us.

We’ve got the flexibility to customize a giving solution that fits your interests and preferred level of involvement.

We manage the fund and handle the administrative details. Our expert finance committee and investment advisors handle the day-to-day management of your fund to keep it growing for the long term. We also take care of the accounting, legal compliance, auditing and other administrative details. All you’ve got to do is enjoy the satisfaction of building your charitable legacy.

Get started today! The process of creating your fund is simple and easy. We’ll gather some basic information about you and the causes you want to support and talk you through the process of choosing the type of endowed fund that best fits your needs. We can have your fund up and running in as little as a day or two.

If you’re ready to get started, contact your local affiliate’s executive director or Ashley Coldiron at 501-372-1116.

We’re excited to announce grants to five organizations working to teach and preserve Arkansas History and make information more accessible to Arkansans. Funding for the grants comes from our Bridge Fund Endowment, created at the Community Foundation in 1993 to serve as a bridge between Arkansas’s past and future by supporting education, libraries and the teaching/promotion of Arkansas history.

Grants from the endowment are made throughout Arkansas for schools, archives, local county and state historical societies and museums for projects to provide training for teachers of Arkansas history; to facilitate teaching and learning of state and local history; and to increase the knowledge and understanding of Arkansas history, especially through research and publication.

This year’s grants were awarded to:

Central Arkansas Library Foundation, for an outreach project to increase access to library branches, including bus service to transport students to the Butler Center for Arkansas Studies and the Hillary Rodham Clinton Library and Learning Center.

Crystal Bridges Museum of American Art, for the Arkansas Declaration of Learning project, which will enable 28 Arkansas teachers and school librarians to develop lesson plans using historic objects, works of art and primary source materials from Crystal Bridges, the Butler Center for Arkansas Studies and the U.S. Department of State’s Diplomatic Reception Rooms.

Lee Street Community Center, to establish a park and exhibit memorializing the lives lost in the 1919 race riot in Elaine, Arkansas.

UALR Center for Arkansas History and Culture, to host the Teaching a Web of Arkansas History workshop for museums, libraries, archives and secondary educational institutions. Participants will receive instruction from a professional archivist to create we-based exhibits with historical images.

Walton Arts Center, to support the touring production of Digging Up Arkansas, a play that teaches elementary school children about Arkansas history through the story of two Depression-era Works Progress Administration workers as they organize and display Arkansas history artifacts in preparation for a visit from President Roosevelt.

There’s more to giving than cash! Yes, writing a check or making a credit card donation is a simple way to give to the nonprofit organizations you support, but did you know you’ve got other options?

Arkansas Community Foundation can work with you and your attorney, CPA or financial advisor to help you turn your non-cash assets into a gift that can benefit your favorite charitable causes for years to come.

Here’s how:

Real Estate. When you donate a home, commercial property or piece of land, you can take an income tax deduction for 100% of  appraised value of the property if it was held for a year or longer.

Securities. Transferring publicly traded securities to the Community Foundation is a simple transaction that can be completed in a few business days. Contact Lindsey Simmons in our central office for transfer instructions. We’re also able to accept closely held stock. Contact Ashley Coldiron to learn more.

Insurance Policies. If you’ve got a limited cash flow but want to make a large gift, donating an unneeded insurance policy could be an attractive option for you. You can defer the gift by naming the Community Foundation as a beneficiary, or donate the policy outright.

Crops or Timber. We’re even able to accept donations of agricultural products. We’ll work with a buyer to sell the products on the market and use the proceeds to support the charities you designate.

A non-cash gift might be the ideal way for you to make a significant impact on a cause you care about this a holiday season. You can partner with the Community Foundation to set up a fund or endowment to protect, grow and direct your charitable dollars. It’s not too late to start your giving legacy this holiday season.

Starting your own charitable fund is simpler than you think. Find out how it works here. 

What are your giving goals? Contact our staff to set up a consultation and find out how we can help you achieve them.

The Sloan Family of Jonesboro

Originally from Prescott, Arkansas, the late Betty Teeter Sloan made Jonesboro her home and advocating for that community her life’s mission.

This former Arkansas Community Foundation board member set up an endowment that ensures her charitable legacy and engages the current and future generations of her family in giving.

Her eldest son John T. Sloan of Jonesboro, eldest daughter Kitty Sloan of Paragould and granddaughter Caroline Sloan Bednar of Little Rock now serve as advisors for grantmaking decisions from the Betty T. Sloan Charitable Endowment. They hope to eventually involve all six children, seven grandchildren and, so far, two great granddaughters, who are spread across Arkansas, California, Colorado, Florida and New Mexico. Kitty Sloan answers our questions about giving:

What are the chief challenges that you confront in your family’s giving?
Mother died November 4, 2014, at age 91. Our challenge will be to think of grants she would have supported. Sending an annual donation to the United Way of Northeast Arkansas was an easy first decision because one of the reasons she set up her endowment was to be a perpetual United Way Pillar. She was the local United Way fund drive chair 30 years ago and her support of cooperative community-based giving never wavered.

What is your family’s highest priority when considering a grant to a non-profit?
I think our guide will always be: What would Mother do? She was involved in and supportive of so many activities in Jonesboro. We want to continue her legacy. She also was always educating herself about every aspect of the community. So, this first year on our own, we decided to grant to Leadership Jonesboro, which is sponsored by the Jonesboro Regional Chamber of Commerce. Mother was involved in Chamber activities for three decades, and its community promotion award is named for her. We know she would approve of helping to train new leaders for Jonesboro’s diverse nonprofit groups. We are also looking at ideas to support The Forum, the 1926 movie theater that Mother helped transform into a city-owned performing arts venue in 1978. We will continue to try to think of grants she might have thought of herself. That will be a challenge, too, because she always had innovative ideas.

What is philanthropy to your family?
We inherited a community-based vision of philanthropy from both parents. Our father, James E. Sloan, who died in 1979, was very active in his hometown of Jonesboro. With the help of friends in the Craighead County Farm Bureau, a scholarship for agriculture majors at Arkansas State University (ASU) was established in his name (now named for both Betty and Jim Sloan). After raising six children, Mother became more involved in the community. She often noted that if she could not give a lot of money, she gave a lot of her time. Even as president of E. Sloan Farms, she would also list her occupation as “community volunteer.” Arkansas Community Foundation will now be an opportunity for each generation to remember “Nana” and her generous spirit.

To what extent do you give from the head versus the heart?
The heart will always be guided by the head, just as Mother was. A valid question for each project might be: Will this be a practical path to an emotional payoff? Years ago, when the family was approached to make a pledge to the Flo and Phil Jones Hospice House in Jonesboro, the donation was a way for us to contribute to the community and also to recognize the late Flo Jones, the nurse who introduced the hospice concept to Jonesboro and who counseled us when we were caring for our father at home during the months he was dying from untreatable prostate cancer. Part of the emotional payoff is that we personally know how families benefit from having the option of the Hospice House available. It is rewarding to have our family’s name attached to the furnishings of the family room there.

The Duvall Family of Central Arkansas

C.J. and Karen Duvall prioritize giving to nonprofits that provide educational opportunities to young people and actively involve their two teenage daughters, Alisha and Alana, as advisors in their giving. Ultimately the Duvalls hope that their legacy is framed by the number of people they meet, touch and serve who, in turn, move towards a giving spirit themselves.

What is philanthropy to your family?
Giving has always been intentional in our family and is born out of a history of communal sacrifice. Our parents and grandparents taught us to give regularly through time and money. We were taught to tithe in church and volunteer time in our community. Arkansas Community Foundation allows us to carry on this family tradition on another level.

To what extent do you give from the head versus the heart?
Head versus heart is a constant balancing act, so having a personal mission plan or statement of purpose to guide your giving can help eliminate the gray along the way.

What makes you happiest as a donor? What is most frustrating?
We are happiest when we can see the result of our donation. For example, the joy of watching a scholarship recipient graduate or hearing that a recipient is giving back to our community makes us very happy. On the other hand, our biggest frustration is discovering that a nonprofit has not been a good steward of the donation by channeling the donation away from the original purposes intended by the gift.

What are the chief challenges that you confront in your family’s giving?
The biggest challenge is always the same: defining our priorities in the face of knowing that there are so many great causes to support. We have a set list of priorities that makes it easier to make decisions annually; however, it is not set in stone and we evaluate periodically if the donor recipient list will change. The great thing about the Community Foundation is that the on-line tools and recordkeeping provide a history of our philanthropy to use as a historical map of past philanthropy.

What would you like your children & grandchildren to learn from you about giving to others?
I would like my children and grandchildren to know that giving is not about having a lot of money. Our grandparents were poor, but they gave as part of a communal renaissance. My parents were not wealthy but they gave to advance others. I want my children to know that they have the same DNA that spawned my giving ethic. If they act intentionally I doubt if they will be able to escape the desire or intention to give.

What is philanthropy’s importance to society?
If we were to remove the effort of intentionally promoting goodwill and service to others what kind of world would we have? If we removed both our private family and Community Foundation donations, a recovery center that serves hundreds of adults a year would not have had the land and initial capital to be constructed. Several hundred students would not have a cafeteria and student activity center. And several students that did not have the means to go to trade school or to college would not be actively employed today in occupations that provide them with a way to feed their family and “intentionally” give back to their community today.

Are you interested in learning more about how Arkansas Community Foundation can help establish good giving habits with your family?

The Johnson Family of Greenwood

Drs. Sandra and Brad Johnson live in northwest Arkansas with their two children. The couple discussed giving and other financial issues before they even married, and have instilled their charitable values on their kids since they were babies. As part of our Family Giving focus this month, we asked the Johnsons to reflect on their giving. Each week, we will feature thought-provoking and inspiring answers. Read how these two doctors have applied the medical philosophy “See one, do one, teach one” to their giving.

How would you describe your giving philosophy?
An attitude of gratitude makes a big difference. In our family, we try to remember that we are part of something bigger. We are not the most important people on this planet. It is up to us to always think how to help the other person. We have been blessed to have a great family and given the resources we need to get by in life. It seems the more we give (with a cheerful heart) the more we are given.

How did you develop your family giving plan?
When Brad and I were planning to marry, we discussed our long term plans. We both know how important it is to give back some of the blessings we have been given but yet did not want to be limited to tithing to our church. Arkansas Community Foundation helped us to create a plan that accomplishes what we want. That plan means giving some of our time, talents and treasure to our church, our schools and our community. We have a plan and give from our “head,” but when a need arises that tugs at our “heart,” we also contribute to that cause.

Do you learn more about philanthropy from observing, doing, teaching or reading?
In medicine, there is a phrase of “see one, do one, teach one.” I feel like that applies to philanthropy and all of life. See others do good (be generous), we do good, we help others do good—that makes the world a better place.

What is your family’s highest priority when considering grants?
We value investing in the future. We value education and community. We place a high priority on “building”—building actual structures and programs that will impact the future.

What did you learn about giving from your parents?
There are two sayings my parents have instilled in me: “To whom much is given, much is required” and “Your life is God’s gift to you and what you do with it is your gift to God.”

What do you want your family’s philanthropic legacy to be?
We would like to be remembered as kind generous people who left the world a little bit better. In a dream world, we would like a trail system to incorporate our community of Greenwood with Fort Smith and extend north to the NWA trail system.

Giving as a family helps define shared family values, and putting those values into action helps solidify a legacy. Developing a common giving philosophy can unite all families, not just those with wealth. Beyond having a positive impact on the organizations and issues you care about, your family can reap many rewards from making generosity a group project.

Family giving can:

  • Help family members develop a deeper connection and build trust by working together;
  • Create an outlet for everyone to share their passion, perspective, knowledge and talents;
  • Allow for direct interaction and learning between generations, from grandparent to grandchild;
  • Illustrate to children that giving back to their community is important;
  • Teach younger family members a wide range of skills—communication, negotiation, shared decision making, leadership, accountability and financial literacy—that can be directly transferable to business;
  • Build well-being and positively affect the health and happiness of family members;
  • Allow the family to control how their money is used instead of going to the federal and state taxes; and
  • Offer opportunities for family members of all ages to experience the joy of giving.

For more about how you can start a family charitable fund, contact Ashley Coldiron at 501-372-1116.

Andrea Price

A Guest Post by Andrea Price

For nine generations, my family has called the Arkansas Delta home and it gives me great joy to serve in the Delta.

From Mississippi County to Chicot County, I’ve had the opportunity to meet and work with Arkansas Community Foundation executive directors and board members who are committed to making their communities better. In many cases, the local affiliate boards of the Community Foundation are the only local, grant-making entities serving an entire county. Their service is an essential part of community life and I am honored to work with such committed public servants. In every community I serve, I take informal tours of each community and I’ve found something special in each place.

A mini-library in Clarendon

In Clarendon, I found mini libraries sprinkled throughout the town. On the town square in Marianna, there’s a playground the local affiliate of the Community Foundation helped fund. Lake Village has the largest oxbow lake in North America and members of the local board hold their meeting along this beautiful body of water. I’ve found that a picture is really worth a thousand words when I visited Helena’s famous Johnson‘s Studio, and I visited the Northern Ohio School at Parkin Archeological State Park and experienced a piece of American History. These are just a few of the attractions that make the communities special.

In addition to working with the affiliates and experiencing local attractions, I’ve had the opportunity to enjoy local fares throughout the Delta. Unique food shops and abundant fresh food stands line highways through the Delta. The smell of the best bar-b-que in the United States permeates the air in communities throughout the Delta, and the best canned chow-chow, pickled tomatoes, jams and jellies can be found in some of the most inconspicuous places. There is no shortage of good food or good people in the place I call home.

Every time I make a trip to an affiliate area, I am reminded of the history that helped shape the Delta, the people who are currently working to make it stronger and the future of this very special region of the country. For me, there is no place like home and I am honored to give back to a place that gave so much to me.

What are the biggest challenges facing older people in Arkansas?

Dr. Jeanne Wei

by Dr. Jeanne Wei, M.D., Ph.D.
Donald W. Reynolds Institute on Aging
University of Arkansas for Medical Sciences

Senior Arkansans face a daunting set of challenges that contribute to disparities in health.

Healthcare outcome disparities are directly related to the differences in access to, and availability of, health facilities and services, primarily as a result of geographical location, socioeconomic status, education, language, race, gender and/or age.

These disparities clearly have had a negative impact on the aging population in the state of Arkansas. Arkansas is ranked 50th in the U.S. in cardiovascular outcome disparities. Among the 50 states, Arkansas ranks 47th in overall senior health, 50th in food insecurity, 46th in physical activity and 41st in poverty among seniors.

One key factor in these differences is the rural nature of the state and the distance between where seniors live and the nearest hospital or physician’s office. Telemedicine has begun to help alleviate this problem and continues to demonstrate potential for narrowing the gap.
Addressing all these multiple problems simultaneously, comprehensively and with sufficient dedicated resources, is essential to solving each one and to ensuring that seniors throughout Arkansas are healthy and are receiving equal access to, and benefitting from, healthcare.

A reduction in the number of seniors living at or below the poverty line would mean more seniors eating better, healthier and not succumbing to malnutrition or even hunger. It also can mean access to affordable transportation to a senior activity center or other fitness facility where they can participate in activities to improve their health. Similarly, good nutrition would go hand in hand with taking advantage of these activity and exercise facilities.

Solving only one of these problems might not significantly improve things soon enough for senior Arkansans, but a solution that knits all of them together will likely succeed where narrower initiatives have previously failed. We all need to collaborate together to help our loved ones, our neighbors and eventually ourselves.

Rev. Herschel McClurkin of Alma

By Rev. Herschel McClurkin,
Retired United Methodist pastor
Alma, AR

“I miss my Sunday School class and church when I can’t go. My relationship with God is important,” say some.

“To get myself to the aquatic aerobatics two times a week helps my arthritis, but it gets tiresome. To do the exercises and walking suggested by the rehab folks following surgery and hip replacement is not easy.”

A lady, 91, says, “If we don’t keep ourselves in touch with others and have fellowship, we go down fast! My brother offered to take our sister to church after her husband died. She refused to get out of her chair. She didn’t last long!”

Some older people say, “Keeping active and staying busy is number one, and it’s difficult with lack of transportation.” Some say transportation is their main challenge.

Others have challenges for lack of food, poor nutrition, someone to check on them, citizenship, energy, medicine, finding a doctor, waiting months for an appointment, keeping up with Medicare and Medicaid changes, finding affordable home care, facing homelessness, learning about free clinics and wondering what our government is going to do next.

What is common to all? The little three-year-old, the 20-year-old college athlete and adults are all getting older! Some of us want to and some of us don’t want to get older.

Challenges for aging people abound. More are beckoning to be aided. But people who are willing to help are always a God-given blessing.