In this edition of the CFAAC Community Connector, provide updates on our grant applications, our impact, insights into 'The Great Wealth Transfer', scholarship opportunities, new Funds, community events, and news for professional advisors.
FOUNDATION NEWS
A Message From our President & CEO
On my way to work this past week I noticed all the signs of spring popping up around me — the tiniest buds forming on the trees, the green blades of daffodils pushing through the earth, and crocus’s purple and yellow dots adding color to the drab green of winter’s landscape.
Signs of spring are popping up at the Community Foundation, too. Once again, our educational programs and grant applications are filling up the calendar. And our staff is out and about in the community, attending nonprofit programs, events, and other community functions. Did you know that last year our small staff of nine attended more than 300 events and programs combined?
Yes, our reach goes far beyond our offices on Bestgate by actively participating in the community, ensuring ongoing connections and effective communication of our mission. Our dedicated volunteer board actively also participates in visits to nonprofit sites and engages in community programs, all contributing to our collective effort to make this county a place we are proud to call home.
As you read through this newsletter, you will find ways you, too, can be part of making Anne Arundel County a better place to live, work, and play for all. And be sure to check out the first article in our series of four about the Great Wealth Transfer in this newsletter.
Thank you for all you do,
Mary Spencer
CFAAC President & CEO
In Case You Missed It: February's CFAAC Commentary in The Capital Gazette: Love in Action; How to Strengthen and Support our Community
By Mary Spencer, CFAAC President & CEO
At the heart of every community lies a driving force — the love, support and care of its residents. Anne Arundel County is no exception. In our county, we are fortunate to have people and nonprofits who care about the community including our beautiful surroundings, equal access to healthcare and educational resources.
While many live an abundant life, others are experiencing great need in Anne Arundel County — homelessness, food deserts, transportation and childcare issues still exist in many parts of our county. And in a world that seems distracted, fast-paced and often chaotic, finding ways to connect with and support our county becomes increasingly important.
The key is to spread the love through volunteering and giving back to make a positive impact.
Read more for ways you can help show your love for others in Anne Arundel County. Read more.
CFAAC’s Fund for Anne Arundel (FFAA) grants directly align with CFAAC’s Community Needs Assessment: Poverty Amidst Plenty VII: Moving Forward Together. To address the needs outlined in the Needs Assessment, FFAA granted nearly $800,000 in grants in the last four years to help provide solutions to these community challenges. Inspire Impact - Donate
The Great Wealth Transfer: Baby Boomers Take Note
This is the first article in a four-part series about the Great Wealth Transfer
Chances are you’ve heard buzz about the great wealth transfer that is actually occurring right now. The phrase denotes the gradual shift in demographics and finances of the baby boomer generation (born 1946-1964), to future generations, including Gen X (1965-1980) and millennials (born 1981-1996). As boomers retire, require long-term care, and eventually pass, their collected wealth, roughly $30 to $68 trillion (even estimates of $140 trillion) is being transferred to their children, grandchildren, and other beneficiaries. This great wealth transfer is predicted to affect the U.S. economy as a whole. The first article in this series will focus on baby boomers. Read More
MAKING A DIFFERENCE
Herzberg-Wild Memorial Scholarship Application Closes on March 22, 2024
The Lance Corporal Eric William Herzberg and Lance Corporal William Taylor Wild IV Scholarship (Herzberg-Wild Scholarship) was established at CFAAC in 2014 by anonymous donors to honor two fallen Marines, Eric W. Herzberg and Taylor Wild IV, who were both Anne Arundel County residents.
The Herzberg-Wild Scholarship awards one $10,000 scholarship annually to a deserving Anne Arundel County Public School high school senior. Learn More & Apply
Officer Grant Turner Memorial Scholarship Application Closes on March 22, 2024
The Officer Grant Turner Memorial Scholarship Fund was established after Officer Grant Turner passed away to honor his love of sports and baseball. The Fund Advisors host one of the largest preseason baseball tournaments in the state. The scholarship funds may only be used for tuition, fees and books at institutions of higher education. There are four scholarship opportunities available for $1,700 each. This one-time dispersal of $1,700 will be paid directly to the institution. Learn More & Apply
Where Are They Now? - Kaitlin Weimann, Logistics Systems Anaylst, 2017 Herzberg-Wild Scholarship Recipient
"The Herzberg-Wild Memorial Scholarship was an unbelievably big help toward my college career and future life. Not only did this scholarship make going to college a reality, but made my experience a dream come true. While I was at school, I was able to volunteer and work for things that made a difference in the community and in my life. I wasn’t so stressed about money and was able to obtain my 3.8 GPA and numerous involvements. This scholarship gave me the opportunity to be my best self at college and set me up for this wonderful career I have today. My college days were spent studying, being involved on campus, meeting new friends, and having some fun (usually in that order). This scholarship has been such a huge part of helping me be who I am today, and I thank the donors, the community that put this together, and the family of these two brave, young men that gave their lives to this beautiful country."
The Community Foundation of Anne Arundel County is thrilled to welcome the following to our family of funds:
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Angela Peterman Ponatoski AAWGT Lifetime Membership Fund: An Endowed Fund established to support Anne Arundel Women Giving Together and its mission to support grantmaking activities that are devoted to improving the lives, health, education, and well-being of women, their children, and families.
During our 25th anniversary year, CFAAC continues to grow and strengthen the endowments of nonprofits to benefit them in perpetuity. Learn more about all of CFAAC's Nonprofit Agency Endowment Funds and this special offer, here. Hurry, the offer ends April 30, 2024!
CRAB ENDOWMENT FUND
A CFAAC 25th Anniversary Designated Fund established by Chesapeake Region Accessible Boating (CRAB) to support its mission to bring the therapeutic benefits of sailing and boating on Chesapeake Bay and the freedom it provides to people with any type of disability, recovering warriors, and youth from underserved communities regardless of their financial situation.
ST. ANNE'S SCHOOL OF ANNAPOLIS EQUITY IN EDUCATION SCHOLARSHIP FUND
A CFAAC 25th Anniversary Endowed Fund established by a donor to support St. Anne's School of Annapolis. The purpose of the Equity in Education Scholarship Fund is to provide full tuition, activity fees, transportation, and meals for middle school students.
WELLNESS HOUSE OF ANNAPOLIS ENDOWMENT FUND
A CFAAC 25th Anniversary Endowed Fund established by the Wellness House of Annapolis Endowment Fund. The mission of Wellness House of Annapolis is to provide support, education, and services to help individuals and families who have been touched by cancer recover their health and well-being in a home-like environment.
During our 25th anniversary year, CFAAC continues to grow and strengthen the endowments of nonprofits to benefit them in perpetuity. Learn more about all of CFAAC's Nonprofit Agency Endowment Funds and this special offer, here.
As our donors and our nonprofit community continue to take advantage of our special 25th anniversary offer to establish a new Designated or Agency Nonprofit Fund to benefit their beloved nonprofit, we encourage our community to support one or more of these funds listed below with a special gift. Each gift will help the nonprofit grow their fund to ensure that their organization is supported in perpetuity. If you don't see your favorite nonprofit listed here, please contact John Rodenhausen, Director of Gift Planning at john@cfaac.org, to find out how you can establish a fund to be added to the list.
Endowment Funds at CFAAC for the benefit of a nonprofit:
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Sylvia Meisenberg Adult Literacy Program at Arundel House of Hope
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Oncology Foundation of Maryland and the District of Columbia Endowment Fund
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St. Anne's School of Annapolis Equity in Education Scholarship Fund
Support these CFAAC Designated Nonprofit Funds to help them reach their goal of becoming a permanently Endowed Fund:
STRENGTHENING NONPROFITS
GRANT OPPORTUNITIES
Help Our Neighbors Fund Closes March 29
CFAAC provides grants to local nonprofits that assist individuals and families in need by providing emergency assistance, such as covering immediate living expenses like paying rent to prevent eviction, utilities to prevent shut-off, fees for transportation to work or car repair, or for essential medication and medical care to return to or maintain their health. Apply by March 29, 2024, for awards up to $2,500 in April. Learn More
Fund For Anne Arundel Opens March 18th
The Fund for Anne Arundel (FFAA) Grant Application will open on March 18th. FFAA focuses on grants for nonprofits supporting the health of children and families, addressing identified community needs. The goal of FFAA is to help meet critical needs and enhance residents' quality of life, with a special emphasis on organizations and programs that focus on physical, mental, and behavioral health of children and their families. Apply by April 26, 2024, for awards up to $50,000. Learn More
COMMUNITY EVENTS
AAWGT Presents: Civil Rights, Then and Now: Empowering Women and Families in Anne Arundel County
March 25, 2024 | 6:00 p.m. to 7:00 p.m.
In person or via Zoom
Free and open to the public
Learn More & Register Here
In honor of Women’s History Month and Maryland’s “Year of Civil Rights,” Anne Arundel Women Giving Together is hosting an education panel event featuring:
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Dr. Terry Anne Scott, Director of Common Power
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Elaine Rice Bachmann, Maryland State Archivist
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Chanel Compton Johnson, Executive Director of the Banneker-Douglass Museum
AACPL Events for Nonprofits
Anne Arundel County Library Presents "Grantseeking Resources Workshop"
March 20, 2024 | 2:00 p.m. to 3:30 p.m.
Michael E. Busch Annapolis Library
Learn to search for grants for your nonprofit organization and attract funders by using Foundation Directory Online (FDO), Candid Learning, and GuideStar. This is a FREE event.
Anne Arundel County Library Presents "Introduction to Proposal Writing Virtual Workshop"
April 24, 2024 | 2:00 p.m. to 3:30 p.m.
Virtual Event
Learn More & Register Here
Are you new to proposal writing or want a quick refresher? Join this course for an overview of how to write a standard project proposal to a foundation. This is a FREE event.
NEWS FOR PROFESSIONAL ADVISORS
Anne Arundel Estate Planning Council Wine Down Wednesday
March 20, 2024
5:30 pm to 7:30 pm
Carroll's Creek Cafe
The Anne Arundel Estate Planning Council (AAEPC) invites its members and their guests to join them for their next Wine Down Wednesday. Enjoy appetizers, a cash bar, and networking. Free for AAEPC members. Learn More
Client-centric teamwork are not buzzwords to Frederick and his firm, Franke Beckett LLC. As the firm’s managing attorney, Frederick makes sure they deliver first-rate estate and trust services to their clients. For his estate planning clients, this means that their concerns are addressed and an estate plan constructed to meet those specific concerns. As part of the process, CFAAC is discussed as an important option to clients who want their philanthropy to support local nonprofits. The firm has been working with the Community Foundation since 1998.
“Many of our clients include charitable bequests in their estate planning,” said Frederick. “By using CFAAC for donations, they can structure bequests that will benefit charities with annual gifts and provide a way to include their younger family members in the process. Such a legacy helps the charities and can promote philanthropy in future generations.” Read More about Frederick R. Franke
Pictured: Frederick R. Franke receives Professional Advisor Recognition Society Award at the 2023 Celebration of Philanthropy from Mary Spencer, CFAAC President & CEO
Tax Return Reviews Help Clients Level Up Charitable Giving Plans
Reviewing tax returns with a client can feel like an administrative task that simply needs to get done. But don’t overlook the value of the review process to point out planning opportunities for this year and beyond, especially related to charitable giving and working with the Community Foundation. Read more.
Donor Advised Funds: Recommended Reading
Recently, Donor Advised Funds (DAFs) have been the subject of conversation within financial and estate planning circles, as well as a trending topic in philanthropy, related to a set of proposed regulations issued by the IRS late last year. Read more.
Fund Types Tailored to Your Client’s Charitable Goals
Each philanthropic client’s goals are unique, and charitable planning is not a one-size-fits-all proposition. The Community Foundation offers charitable giving vehicles tailored to meet a wide range of clients’ needs. Read more.