FOUNDATION NEWS 
A Message from our President & CEO
Kathy Luthcke, CPA, CGMA, Joins CFAAC as Director of Finance & Operations

MAKING A DIFFERENCE
Community Crisis Response Fund awards a total of $330,500 in Cycle 8 to 25 County Nonprofits
Two Ways to Use Trusts to Reduce Tax Burden and Benefit Your Favorite Charitable Organizations 

COMMUNITY IMPACT
2021 Officer Grant Turner Memorial Scholarship Fund Applications
Arts and Culture Fund Helps Support Future Art Installations at the Severn Intergenerational Center

STRENGTHENING NONPROFITS
Fund for Anne Arundel Grant Application
Community Grants
Community Events

NEWS FOR PROFESSIONAL ADVISORS
Giving together: Factors to consider when representing couples
In sync on giving: Lawmakers from both parties support expansion of CARES Act deduction
April showers: Puddles to avoid as you navigate tax deadline extensions

FOUNDATION NEWS

A Message from our President & CEO

Spring is a time for new beginnings and fresh starts – especially significant this year since we are emerging from a winter that has brought our community many challenges.

One new beginning for CFAAC is hiring Kathy Luthcke, CPA, CGMA, as our new Director of Finance & Operations. Formerly with Trace International, Kathy will join us on April 12th and we are thrilled to have her on our staff as she takes over the work begun by our dedicated Taylor Milbradt. Kathy brings a vast knowledge of finance and HR responsibilities to our organization, with more than 30 years of experience. Read more about her in this newsletter and please join us in welcoming her to our staff.

Taylor will have a new beginning of her own as she enters retirement. We were fortunate to have Taylor on our staff for 11 years and value her leadership, financial oversight, and personal dedication to helping CFAAC grow into the strong organization it is today.

Speaking of new beginnings, we are proud of CFAAC’s strong presence in the community today as we fund programs focused on resiliency and recovery. Thanks to our donors, CFAAC remains supportive of local nonprofits through our Community Crisis Response Fund so that they can work to tackle community needs through the pandemic.

Our Field of Interest Funds continue to serve a unique role in the community by pooling the charitable gifts of like-minded donors to work on a common area of interest. A recent example of this is our Arts and Culture Fund, which has funded artist stipends for future art installations at the Severn Intergenerational Center. See the article in this newsletter for more information.

Finally, I share the sad news that CFAAC’s beloved founder, Carol Thompson, passed away late last month. Our organization’s success today was built on the foundation she created more than 20 years ago. She leaves a hole in our hearts as she will be greatly missed. If you didn't see the lovely tribute that our Director of Development, Amy Francis, wrote about Carol, please read it here.

Mary Spencer
President & CEO

Kathy Luthcke, CPA, CGMA, Joins CFAAC as Director of Finance & Operations

Please join us in welcoming Kathy Luthcke, CPA, CGMA, to our staff team! Kathy brings her vast knowledge of finance as our new Director of Finance & Operations. With more than 30 years of experience, Kathy will be responsible for all accounting functions and legal and contractual human resources activities of CFAAC. Along with the full CFAAC staff, Kathy will work with donors to ensure that they are able to fulfill their financial and philanthropic goals, and work to ensure that CFAAC follows best practices to support donors and nonprofits alike. Kathy will also be the staff liaison to CFAAC’s Budget and Finance, Asset Management, and Audit Subcommittees.

Kathy is a Certified Public Accountant (CPA) and a Certified Global Management Accountant (CGMA). She has an extensive professional background and was most recently the Finance Manager for TRACE International, Inc, supporting both the nonprofit and for-profit work of the organization since 2014. Kathy will join our staff on April 12. Read more about Kathy here.

MAKING A DIFFERENCE

Community Crisis Response Fund awards a total of $330,500 in Cycle 8 to 25 County Nonprofits

Two Ways to Use Trusts to Reduce Tax Burden and Benefit Your Favorite Charitable Organizations

Did you know that by setting up a charitable trust, you can reduce taxes and provide income while still benefiting charity? There are two types of trusts most commonly used for charitable purposes: charitable remainder trusts and charitable lead trusts.

A charitable remainder trust (CRT) is an irrevocable trust designed to reduce taxable income. You can transfer an appreciated asset, such as stock, to set up a CRT and you or your heirs will receive lifetime income from it. After you pass on or after a specified period, the remainder of your trust moves to your Donor Advised Fund at the Community Foundation to support the charities you love, and you avoid capital gains tax. CFAAC can act as your trustee or you can choose another trustee.

With a charitable lead trust (CLT), income from the trust will get passed on to your Donor Advised Fund at the Community Foundation for your charitable organizations upfront. It is also an irrevocable trust, but after the payments are made during a specified period of time, the trust ends and the principle is returned to you or to your beneficiaries, often tax free. You can set up this during your lifetime or through your will.

Both types of trusts are usually established during your estate planning process as you consider options to reduce estate tax for heirs. These types of trusts will need to be prepared by an attorney. CFAAC is happy to provide a referral and help work with you and your estate attorney on the process. For more information, contact Claudia Nichols Cunningham at claudia@cfaac.org or 410-280-1102 Ext. 103.

COMMUNITY IMPACT

2021 Officer Grant Turner Memorial Scholarship Fund Applications

The Officer Grant Turner Memorial Scholarship Fund was established to honor and remember Grant and his love of baseball. The Fund hosts one of the largest preseason baseball tournaments in the state. Proceeds from the tournament are used to provide scholarships to student athletes from South River High School. In addition, scholarships are awarded to a dependent of the Maryland Transportation Authority Police Department and the Maryland Diamond/Anne Arundel County Umpires Association. Completed applications must be submitted by April 15, 2021.

Learn More & Apply - Officer Grant Turner Scholarship

Arts and Culture Fund Helps Support Future Art Installations at the Severn Intergenerational Center

CFAAC’s Arts & Culture Anne Arundel fund recently funded artist stipends for future art installations at the Severn Intergenerational Center. This fund is one of several Field of Interest Funds that serve a unique role in the community by pooling the charitable gifts of like-minded donors to work on a common area of interest.

The CFAAC funds will allow the team at the Severn Intergenerational Center, through the support of the Arts Council of Anne Arundel County (ACAAC), to provide stipends to six artists at $500 per artist for conceptual drawings in two outdoor arts-oriented spaces (a mural and a mosaic) at the center. Funds will also support calls, meetings, and awards for submitted artwork as well as identification of artist designs included at the center.

“From the beginning, the team felt the need for public art was an absolute must,” said April Nyman, ACAAC Executive Director. “They envisioned the mural, mosaics, and photographs to reflect their community.”

The Severn Intergenerational Center is a brand new 26,000 square foot facility that will be a welcoming space for all community members in the Severn area and feature a senior center, Boys & Girls Club spaces, meeting rooms, and activity spaces. Developed based on a need raised by concerned residents in the community, the project is being led by the Arundel Community Development Services in coordination with a team of Severn community leaders. The CFAAC grant will support the public art projects included at the center. Click here for more information on the Call for Artists.

STRENGTHENING NONPROFITS

Fund for Anne Arundel Grant Application

The Fund for Anne Arundel will continue its focus on healthy, thriving, successful children, by awarding grants to programs that address the needs of children and families. There are tremendous unmet needs that remain consistent in Anne Arundel County as outlined in the CFAAC Community Needs Assessment, Poverty Amidst Plenty VI: On the Road to Progress for All. The Fund for Anne Arundel was established to align with the findings of the needs assessment report, and to offer flexible and dynamic support to nonprofits doing vital work to address the most pressing needs of Anne Arundel County residents.

In 2021, the Fund for Anne Arundel will make grants to programs that prioritize the health of children and families. This includes access to physical, mental, and behavioral health programs.

The Fund for Anne Arundel will award three to five 12-month grants between $25,000 and $50,000. Now accepting grant applications through April 15, 2021 at 11:59 p.m.

Learn More & Apply - Fund For Anne Arundel

Community Grants

Housing & Community Development Professional Development Scholarships - Accepting Applications on a Rolling Basis
Arundel Community Development Services, Inc. (ACDS) is accepting applications from current and emerging housing and community development leaders working in Anne Arundel County for the Ardath M. Cade (AMC) Scholarship fund. Applications from community and neighborhood leaders and staff at nonprofit organizations implementing social service programs, food assistance, programs for youth, community art projects, housing assistance, and more are welcomed. Learn more here.

AMFM David Glaser Education Fund Applications Open Now
The Annapolis Musicians Fund for Musicians (AMFM) David Glaser Education Fund is designed to offer underserved Annapolis youth exposure to the arts, particularly music. AMFM will provide $6,000 in grants this year—up from $4,000—to reach more children who have been isolated during the COVID-19 pandemic. Applicants must be a registered 501(c)(3) nonprofit organization based in the greater Annapolis area, have an established, active summer program that includes a strong music component, and serve underserved youth. The deadline is April 30, 2021. To apply, go to www.am-fm.org and click on the link for the David Glaser Education Fund.

Community Events

AACPL Introduction to Project Budgets Workshop
Wednesday, April 14, 2021 from 2:00 PM to 3:00 PM
Anne Arundel County Public Library (AACPL) has restarted its nonprofit Funding Information Network workshops as virtual events, the next event is "Introduction to Project Budgets." Learn more here.

AAWGT is hosting a Virtual Open House
Wednesday, April 14, 2021 from 6:00 PM to 7:00 PM
Anne Arundel Women Giving Together (AAWGT) is hosting a virtual Open House for its members, those new to the organization, and for potential members. They invite you to join them to hear from leadership about how AAWGT is responding to needs in the County and how the community can be involved. This event is free and open to the public. Register here.

NEWS FOR PROFESSIONAL ADVISORS

Giving together: Factors to consider when representing couples

CFAAC can help as you work with a couple to design a charitable giving plan that will create rewarding philanthropic experiences for them. In Giving as a Couple, Rockefeller Philanthropy Advisors reinforces the tenets we maintain as a team at CFAAC when working with a couple to develop and activate a charitable giving strategy that matches their goals and values.

For example,

• CFAAC strives to know why your clients want to give together as a couple, rather than as individuals. Read more…

In sync on giving: Lawmakers from both parties support expansion of CARES Act deduction

Members of Congress from both the Republication and Democrat parties have introduced legislation to expand the increased charitable deduction cap for non-itemizers to up to one-third of the standard deduction. The Universal Giving Pandemic Response and Recovery Act (S.618/H.R.1704) also extends this temporary $300 deduction, which was included in the original CARES Act, through 2022 and enhances the provision to include gifts to donor-advised funds. Read more…

April showers: Puddles to avoid as you navigate tax deadline extensions

Your clients are probably aware that the Internal Revenue Service and the Treasury Department have extended the federal income tax filing and payment deadline for the 2021 tax year from April 15 to May 17, 2021, however, clients might overlook the fact that this extension applies only to individual taxpayers. Read more...