IN THIS ISSUE
FOUNDATION NEWS
A Message From Our President & CEO
Rosemary Calderalo Joins CFAAC
MAKING A DIFFERENCE
Celebration of Philanthropy Sponsorship Opportunities
It’s Back to School Time! Support Your Teachers
COMMUNITY IMPACT
Estate Tax Planning and Philanthropy Webinar | September 21
Beyond Words: An Exploration of the Arts in Healing Webinar | September 23
Getting the Most Out of Your Philanthropy Webinar | October 12
Mental Health First Aid Training Course | November 13
STRENGTHENING NONPROFITS
Women and Girls Fund is now accepting applications
Environment Anne Arundel is now accepting applications
NEWS FOR PROFESSIONAL ADVISORS
Upcoming Legislative Developments
Advisors' Fiduciary Obligations Can Get Personal
Five Pointers When Making Gifts of Life Insurance to Charities
Three Important Factors in Donating S Corp Stock to Charity
FOUNDATION NEWS
As we transition from summer to fall, I’m reminded of all of the good things associated with the season—cooler weather, the warm palette of leaves, back to school, fire pits, and of course, upcoming CFAAC events.
We are gearing up for an exceptional lineup of late summer and fall activities beginning with several webinars including estate tax planning and healing through arts, and in-person events such as Mental Health First Aid training and our Celebration of Philanthropy Awards Luncheon on November 5th.*
As the Celebration of Philanthropy draws closer, the excitement is building! We had so many wonderful people nominated this year and we look forward to announcing the recipients soon. We still have the opportunity for sponsorships for the event and I hope you will consider supporting CFAAC so that we can make these awards all the more meaningful. Find information on sponsorships here.
Sadly, we announce the passing of two beloved community members. First, we mourn the loss of former CFAAC Board Member and Trustee Emeriti, Dr. Lester Salamon. Les was a pioneer in the study of nonprofits and understood the importance of philanthropy in Anne Arundel County. He was an advocate for CFAAC, its value to our county and its residents. He will be greatly missed. Find his obituary here. Our condolences also go out to former board member Bud Billups on the passing of his wife of 57 years, Beatrice “Bee” Billups. Like Bud, Bee was an avid volunteer throughout her life. Find her obituary here.
This month, we are thrilled to announce the addition of Rosemary Calderalo to the CFAAC staff as our new Director of Gift Planning. Rosemary brings a wealth of experience to us having served as the Director of Planned Giving for the Baltimore Community Foundation for about five years. She will join us on September 13th. Read more about Rosemary here.
Please read through this newsletter, which is chock-full of information on upcoming events, grant openings, and professional advisor advice. And, I hope you enjoy the beauty of our county during the fall season.
Until next time,
Mary Spencer
President & CEO
Rosemary Calderalo Joins CFAAC
Please welcome Rosemary Calderalo,
Rosemary brings a wealth of community foundation experience to CFAAC. She recently served as the Director of Planned Giving for the Baltimore Community Foundation (BCF) where she helped successfully raise more than $100 million in their Campaign for Baltimore. While at BCF, she led the organization's planned giving relationship management and stewardship program as well as their gift planning advisement, consultation and execution with area professional advisors and planned giving donors. Rosemary‘s additional experience includes work with the National Boys and Girls Club, Habitat for Humanity, Salvation Army, and the American Red Cross. Read more about Rosemary here.
MAKING A DIFFERENCE
Celebration of Philanthropy Sponsorship Opportunities
We need your support to ensure our 2021 Celebration of Philanthropy Awards Luncheon is a resounding success! Celebration of Philanthropy Sponsors will have the opportunity to promote their business to our community’s most invested and generous residents. Sponsors will be mentioned in all Celebration of Philanthropy Awards publicity, both prior to and during the event, including being listed in all printed materials, press materials, and in the event program. This luncheon will celebrate eight amazing community contributors and we need your help to recognize them in a special way. Please consider a sponsorship for our awards luncheon as CFAAC continues to champion and strengthen our local nonprofit community.
Click here to view Sponsorship Benefits
We are pleased to announce the first of our 2021 Sponsors
Platinum Sponsor
Gold Sponsors
Friends of Philanthropy
Tara Clifford
Greg & Trish Strott
Learn more about the Celebration of Philanthropy
It’s Back to School Time! Support Your Teachers
Keeping students engaged has become even more challenging over the last 18 months. Teachers have had to adapt to ever-changing situations while creating meaningful and inspiring lessons for online, hybrid, and in-person students. CFAAC’s Grants 4 Teachers program can help make their jobs a little easier while they continue to push boundaries and enrich students’ learning in new and imaginative ways. Grants 4 Teachers was established to fund highly creative ideas that would otherwise be impossible due to school system funding constraints.
“So many of our teachers have great ideas and don’t know how to launch the fruits of their creative and meaningful thinking. Grants 4 Teachers funding gives them hope and means to move their dreams forward,” said Maureen M. McMahon, Ph.D., Deputy Superintendent for Academics and Strategic Initiatives, Anne Arundel County Public Schools.
Thanks to the generosity of local donors, Grants 4 Teachers was launched in 2009. Since then, the program has awarded $98,600 for projects such as an afterschool computer coding class for girls, a 911 Memorial field trip, an osprey nest webcam, musical instruments purchases, programs to monitor water quality and study aquatic life, and more. With your support we can continue to help students find and follow their passions, please consider a gift to support Grants 4 Teachers.
ATTENTION TEACHERS! Our next application cycle for Grants 4 Teachers will be opening on September 20, 2021. CFAAC wants to help fund teachers' creative ideas to stimulate and inspire our students’ learning. The deadline is October 29, 2021; grants are awarded from a minimum of $100 to a maximum of $500.
Learn more about Grants 4 Teachers
COMMUNITY IMPACT
Estate Tax Planning and Philanthropy
Attorney Christine Hubbard shares How to Create a Meaningful Charitable Legacy Within Your Estate Plan in a Tax-Efficient Manner
Date | September 21, 2021
Location | Via Zoom
Time | 8:30 am to 9:30 am
Estate Planning, Business Succession, and Probate Attorney Christine Hubbard will lead participants in this interactive webinar, explaining the fundamentals of estate planning and how to build philanthropic giving into their estate plan in the most tax-efficient way. Attendees will learn about estate planning basics and strategies, current and proposed tax laws, incorporating Donor Advised Funds into estate plans, and setting philanthropic goals. Christine will not only give you the most current and relevant information regarding estate planning, but also will answer questions you may have regarding these topics. Sign up now for this very informative webinar that will provide you with valuable insight into the estate planning process.
Register for Free & Learn More Here
Beyond Words: An Exploration of the Arts in Healing
Join Rob Levit in an interactive, creative, and hopeful exploration of the role of the Arts in healing trauma.
Date | September 23, 2021
Location | Via Zoom
Time | 10:00 am to 11:00 am
Sometimes words alone are not sufficient to process the intense challenges that people face in ordinary and extreme circumstances. According to internationally-acclaimed author, Dr. Bessel van der Kolk, “the body keeps score,” meaning that the memory of traumatic experiences are stored in the body until they are released. The Arts – music, movement, drawing, creative writing, etc. – are an exceptionally important and well-documented modality to help individuals, organizations, and communities toward post-traumatic growth because the tactile, kinesthetic, aural, and visual sensation are activated. The Arts extend beyond words to give voice to the “unspeakable” and extend an important pathway to healing.
This webinar is open to the public and free to registered participants, and is part of CFAAC’s yearlong Speaker Series on Becoming a Trauma Informed County.
Register for Free & Learn More Here
Getting the Most Out of Your Philanthropy
Join us to hear Stephen R. Holt, Financial Advisor and Managing Partner with Premier Planning Group in Annapolis, discuss how to approach the philanthropic planning conversation with your advisor, and what questions to ask to better understand how your advisor can help you get the most out of your philanthropy.
Date | October 12, 2021
Location | Via Zoom
Time | 8:30 am to 9:30 am
You want your philanthropic dollars to be used effectively, while at the same time finding joy from your giving. However, navigating the world of philanthropy can be a challenge. Having philanthropic conversations with your wealth advisor is an excellent way to develop and implement a strategy that can lead you to making a greater impact on the nonprofits you care about.
For example, what is their experience in multi-generational giving? Can they help you understand if your giving is achieving its intended impact? What is the best charitable giving vehicle for you? Can they help you maximize your tax deductions and manage risk? Do they collaborate with local experts, like community foundations, to offer programs and workshops that will deepen your knowledge? Asking the right questions can help facilitate discussions among family members, develop a plan for giving, and identify partners such as CFAAC to help you carry out those plans.
Register for Free & Learn More Here
Mental Health First Aid Training Course
Date | November 13, 2021
Location | The Commons at Annapolis Commerce Park
912 Commerce Road, Annapolis, MD 21401*
Time | 9:00 am to 5:00 pm
Cost | $50 per person
Did you know that nearly one in five U.S. adults live with a mental illness? Mental Health First Aid training will teach you how to identify, understand, and respond to signs of mental illness and substance abuse disorders. This course, led by expert trainers in the mental health field, will give you the skills you need to reach out and provide initial support to someone who may be developing a mental health or substance abuse problem and how to connect them to the appropriate care. You will also learn how to apply the ALGEE action plan: Assess for risk of suicide or harm; Listen nonjudgmentally; Give reassurance and information; Encourage appropriate professional help; and Encourage self-help and other support strategies.
This is an in-person*, instructor-led course that is limited to 30 participants. Fee: $50 for training and materials. This course is part of our yearlong Speaker Series on Becoming a Trauma Informed County.
*In-person events will be held pending all COVID-19 social distancing and gathering restrictions. CFAAC will continue to assess, based on current conditions, whether to postpone, significantly reduce the number of attendees, or cancel the in-person gathering.
STRENGTHENING NONPROFITS
Women and Girls Fund is now accepting applications
The mission of the Women and Girls Fund is to support projects that develop individual skills, decrease isolation, create new experiences and empower women and girls who face major obstacles due to poverty, disability, domestic violence, and/or lack of access to resources.
Grants from the Women's and Girls Fund will be used to support nonprofits that help women and girls pursue positive, productive lives by helping remove barriers for women and girls, increase their economic security, enhance their well-being and safety, and empower them to make positive life decisions for themselves and their families.
The Women and Girls Fund will award one or two $3,000 to $5,000 grants, based on available funding. Grants will be made to non-profit organizations working to improve the lives of vulnerable women and girls living in Anne Arundel through:
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Education
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Expanding Opportunities
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Health and Wellness
Grant applications open on August 15 and close on September 30, 2021, at midnight.
Environment Anne Arundel is now accepting applications
CFAAC's Environment Anne Arundel Fund, established in 2014, supports Anne Arundel County non-profit organizations working to protect and improve the environment in Anne Arundel County and the Chesapeake Bay.
Successful grant applicants will support projects that improve and green communities, address environmental issues such as stormwater, and/or increase student awareness and involvement in the restoration and protection of the Chesapeake Bay, local streams and rivers, and other natural areas. Local nonprofits, including schools operating in Anne Arundel County, will be eligible to apply for these funds.
The Environment Anne Arundel Fund will award one or two $3,000 to $5,000 grants, based on available funding. Applications should demonstrate the non-profits’ ability to:
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educate the public on protecting the natural environment,
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raise awareness of the impact of public and private actions on the natural environment,
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engage citizens to help improve and protect the natural environment.
Grant applications open on August 15 and close on September 30, 2021, at midnight.
NEWS FOR PROFESSIONAL ADVISORS
Upcoming Legislative Developments
The Community Foundation of Anne Arundel County can work with you and your clients to structure charitable giving plans and establish funds that achieve both your clients’ charitable objectives as well as address our region’s greatest needs.
We intimately understand the issues facing our community and how grants from funds can be impactful. We do this through deep knowledge of our area’s nonprofits, due diligence to ensure that each charitable dollar helps as many people as possible, and an unwavering commitment to investing in our community for the long term. Read more...
Advisors' Fiduciary Obligations Can Get Personal
With charitable bequests on the rise, and the possibility that more clients will be subject to Federal estate taxes in the future, many attorneys, accountants, and financial advisors are reviewing the requirements of advising and administering taxable estates where one or more charitable organizations is a beneficiary.
Advisors’ fiduciary responsibilities to charitable beneficiaries are similar to fiduciary responsibilities to a decedent’s family members and other individual beneficiaries. Where a charity is a residuary beneficiary, for example, a fiduciary must pay careful attention to expenses and liabilities that impact the amount the charity ultimately receives. These liabilities and expenses include taxes, debts, fees, and costs incurred by the executor or trustee. A fiduciary should expect charity remainder beneficiaries to pay as much attention to the bottom line as family members. Read more...
Five Pointers When Making Gifts of Life Insurance to Charities
“Incidents of ownership” are three powerful words in estate planning where life insurance is concerned. The phrase is a key component of Internal Revenue Code Section 2042, which provides for the inclusion in a taxpayer’s gross estate, for estate tax purposes, of the proceeds of insurance policies on the taxpayer’s life under two circumstances. First, if the proceeds are actually received by the estate, they are included. Second, proceeds are included in an estate when the money is received by named beneficiaries other than the estate if the taxpayer died possessing “incidents of ownership” in the policy. Before you assist your client with a gift of life insurance to a charity, check out our five pointers.
Three Important Factors in Donating S Corp Stock to Charity
A Question many family businesses grapple with in their formative stages is whether to form an S Corporation, or limited liability company? For years, S Corporations were frequently preferred for small businesses that wanted the protection of a corporate structure versus a traditional partnership. In the 1990s, limited liability companies, or LLCs, rose in popularity because they offered both favorable tax treatment and corporation-like protections. In recent years, lower tax rates have contributed to the resurgence of traditional C Corporations as a viable structure for a business. Learn more about the three particularly important factors for donating S Corp stock to a charitable organization that your clients will want to consider.