IN THIS ISSUE
FOUNDATION NEWS
CFAAC has Moved!
Save the Date for Celebration of Philanthropy
Claudia Nichols Cunningham Joins CFAAC
CFAAC receives Anne Arundel County Grant
COMMUNITY IMPACT
Fund for Anne Arundel Gives $162K
CFAAC continues to serve Anne Arundel County in response to COVID-19
STRENGTHENING NONPROFITS
Chaney Enterprises Foundation Fund Grant Cycle 2 is Now Open
Community Grants
NEWS FOR PROFESSIONAL ADVISORS
Eyebrow-raising IRS relief for required minimum distributions
Donor privacy protections now official
Galas look different, but the tax rules are still sticky
FOUNDATION NEWS
CFAAC has Moved!
On July 6th, CFAAC officially moved to our new office, located at 900 Bestgate Road, Suite 400, Annapolis, MD 21401. Our phone number is remaining the same.
We look forward to welcoming all of our friends and nonprofit colleagues as soon as possible. Due to social gathering restrictions we cannot yet plan or announce the date of our official open house. Be on the lookout for a virtual tour of the new office soon!
A Chance to Thank Our Community...CFAAC Celebrates 20 years of Philanthropy with 20 Awards!
November 5, 2020, CFAAC will celebrate 20 years of philanthropy in Anne Arundel County, creating a special opportunity to highlight and honor an increased number of generous and committed community members that represent the depth and breadth of philanthropy in Anne Arundel County, creating a sense of belonging for all.
NOMINATIONS ARE NOW OPEN!
Do you know an individual, family, or business who demonstrates exceptional generosity by donating their time, talent, or financial resources? Or how about an outstanding nonprofit, or a group of volunteers expanding the services or reach of a program, or a partnership of two or more organizations collaborating on a specific project or common goal? Maybe you know a legislator advocating for Anne Arundel County's nonprofit community? Consider nominating them for a 2020 Celebration of Philanthropy Award. To learn more about the awards and view the 2020 categories click here.
Nominations must be received by C.O.B Friday, August 7, 2020. If you have questions, need assistance, or if you would like to discuss a nomination, please call Amy Francis at 410.280.1102. Email completed nomination forms, written statements, and supporting documents to amy@cfaac.org.
Claudia Nichols Cunningham Joins CFAAC
We are pleased to announce that Claudia Nichols Cunningham is joining CFAAC as our new Director of Gift Planning. She will be responsible for cultivating and stewarding relationships with current and prospective donors, as well as professional advisors, including members of the Anne Arundel Estate Planning Council (AAEPC) to assist with trusts, estate planning, and other deferred gifts to help their clients achieve a lasting philanthropic legacy in the community.
Claudia has over 20 years of fundraising experience building strong, lasting donor relationships. She has personally raised over $20 million in her career. Prior to joining CFAAC, Claudia held leadership fundraising positions at prominent academic institutions, most recently as Assistant Vice President of Development and Alumni Relations for the School of Engineering and Applied Science at the George Washington University and before that as Director of Major Gifts at the U.S. Naval Academy Foundation. She also served as Interim Director of Development and Assistant Director of Development and Alumni Relations at Johns Hopkins University’s continuing education school, named at the time, the School of Professional Studies in Business and Education, and ran the Johns Hopkins University Phonathon.
Claudia holds a Bachelor of Arts degree from Goucher College in Art and English Writing and currently serves on the Goucher College Campaign Committee. She also studied Business Administration at Johns Hopkins University. Claudia has lived in Maryland for over 30 years and worked in Anne Arundel County for a number of those years both professionally and in volunteer roles. She is an avid reader and photographer. She and her husband love to travel and are raising a newly adopted puppy.
Claudia will be joining CFAAC’s team on August 3rd and can be reached at claudia@cfaac.org.
CFAAC receives Anne Arundel County Grant
The Anne Arundel County Community Grant Program was recently revived by Anne Arundel County Executive Steuart Pittman. CFAAC is proud to be one of the 26 organizations selected; funds will be used to produce the Seventh Edition of the Poverty Amidst Plenty Community Needs Assessment Report. The purpose of this report is to provide an overview of the issues in Anne Arundel County that impact the economy and quality of life.
The report intends to increase knowledge and awareness as well as to frame informed discussions about persistent local trends and needs. It is our goal to assist those interested in continuous improvement with their efforts aimed at strengthening the county. It is also a call to action. This report can be used by nonprofits, community advocates, the faith community, volunteers, business leaders, elected officials, policymakers, government agencies, foundations, individual philanthropists, professional advisors, and others to prioritize and develop strategies and implementation plans with measurable goals that benefit everyone in the county. Read the Community Needs Assessment: Poverty Amongst Plenty VI, On the Road to Progress for All.
COMMUNITY IMPACT
Fund for Anne Arundel Gives $162K
In case you missed it, CFAAC proudly awarded $162,250 in grants through its Fund for Anne Arundel to six local nonprofit organizations that provide opportunities for children living in Anne Arundel County to be healthy, thriving, and successful.
The inaugural Fund for Anne Arundel grantees represent all areas of Anne Arundel County and have missions that support the county’s most vulnerable children. Each organization awarded provides programming for Anne Arundel County children and their families to help to break the cycle of poverty through mentorship, education, and individualized case management. Click here to learn more.
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CFAAC continues to serve Anne Arundel County in response to COVID-19 Since April, CFAAC’s Community Crisis Response Fund has approved more than $200,000 in emergency funding to local nonprofits providing direct relief during the COVID-19 pandemic. The fourth cycle has expanded funding to support local nonprofits providing food and/or family support for basic human needs, childcare/camps for underserved children in order for parents to return to work, and services to those facing homelessness/housing insecurity in Anne Arundel County. Learn more about our third cycle grantees, fourth cycle grantees will be announced soon.
CFAAC is committed to helping the community and we will continue to provide support to local nonprofits serving on the front lines of this crisis. Please consider supporting us with a gift to the Community Crisis Response Fund. Donate to the Community Crisis Response Fund STRENGTHENING NONPROFITS
The Chaney Foundation’s mission is "to make a concrete contribution to positively affect the well-being of the communities we serve by investing human and financial resources... because we believe it's the right thing to do." The Chaney Foundation exemplifies this mission by generously supporting a plethora of local nonprofits in the communities where the company does business, and where the Chaney families and company employees live. The Chaney Foundation was named the 2019 Foundation of the Year at the annual CFAAC Celebration of Philanthropy Awards Luncheon. Last year, the Fund made grants to over 45 nonprofits throughout communities where the company does business in Maryland, Delaware, and Virginia, in the impact areas of Education & Workforce, Environment, Health, Arts & Culture and promoting a Safe Workplace. So far this year, the Chaney Enterprises Foundation Fund has awarded more than $185,000 to 15 organizations throughout Maryland and Northern Virginia. Grant applications for cycle 2 are open to all nonprofits in the Chaney Enterprises service area, including Anne Arundel County nonprofits, and will be accepted through August 30, 2020. Community Grants
Anne Arundel County’s Small Business Customer and Employee Protection (CEP) Grant Program is now open. Qualified small businesses, including nonprofit organizations, may apply for up to $10,000 for the reimbursement or purchase of products and services that can help them pivot their business as the economy reopens and implement safety measures for customers and employees. Details on qualifications, instructions, and access to the application are on the CEP grant page. NEWS FOR PROFESSIONAL ADVISORS
In the CARES Act, passed on March 27, 2020, Congress eliminated this year’s Required Minimum Distributions from IRAs, 401(k)s, and 457(b) and 403(b) plans. The end of March, however, was too late for people who had already taken Required Minimum Distributions for 2020. To remedy this situation, the IRS issued Notice 2020-51 on June 25, which allows taxpayers to replace Required Minimum Distributions taken year-to-date. Taxpayers now have until August 31 to replace the funds, and this includes replacing funds from an inherited IRA. Furthermore, taxpayers can replace multiple distributions because the “one rollover per year” provision does not apply for 2020. Read more on our blog for professional advisors.
Many of you have been tracking developments related to the disclosure of donor identity and proposed IRS regulations to clarify the rule’s applicability. You may recall that focus on this issue increased on July 30, 2019, when a Montana federal district court judge set aside the IRS’s Revenue Procedure 2018-38. Under that Revenue Procedure, the IRS had removed the Schedule B disclosure requirements for Section 501(c)(4) and several other forms of tax-exempt entities. Read more on our blog for professional advisors.
For many charities that rely on events to achieve annual fundraising goals, the cancellation of 2020’s Met Gala (which raised an estimated $15 million in 2019) came as a blow, signaling that live galas and auctions might not be back anytime soon. Still, many organizations are moving forward with virtual fundraisers. What should you keep in mind as you advise clients who routinely support charities through events? Read more on our blog for professional advisors. |
Chaney Enterprises Foundation Fund Grant Cycle 2 is Now Open
Anne Arundel Small Business Grant Fund available for Nonprofits
Eyebrow-raising IRS relief for required minimum distributions
Donor privacy protections now official
Galas look different, but the tax rules are still sticky