IN THIS ISSUE
FOUNDATION NEWS
A Message from CFAAC's President & CEO
CFAAC continues to serve Anne Arundel County in response to COVID-19
Save the Date for Celebration of Philanthropy
CFAAC is Moving!
Mary Spencer joins Annapolis Small Business Recovery Task Force
COMMUNITY IMPACT
BGE gives $192,000 to CFAAC Community Crisis Response Fund
2020 Scholarship Recipients
AAWGT Awards $139,381 to Anne Arundel County Nonprofits
One Annapolis Streaming Festival
STRENGTHENING NONPROFITS
Chaney Enterprises Foundation Fund’s next grant cycle opens July 1
Community Grants
Partner Events
NEWS FOR PROFESSIONAL ADVISORS
Donor Advised Funds: Working hard for our community
Important reminders: QCDs and CLATs
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CFAAC is excited to announce that we are only a few weeks away from moving to a new office, located at 900 Bestgate Road, Suite 400, Annapolis. Finding this wonderful new space was a true collaboration and utilized the knowledge, experience, and skills of our staff and Board Members. We believe that this improved office space is a perfect home for CFAAC. It reflects who we are, where we are, and where we are going as an organization in the future.
Although our move has been in the works for months, due to social gathering restrictions we cannot yet plan or announce the date of our official open house. What we can tell you is that our staff, who have been working remotely since March, are thrilled to be coming together again as a team and can’t wait to welcome everyone once the restrictions have been lifted.
This important next step in the growth of our organization is being underwritten by generous contributions from Deerbrook Charitable Trust and the Humphrey-Hooper Fund. The CFAAC Board of Trustees and professional staff team are extremely grateful for these gifts which will enable our organization to accommodate an increased number of staff members, donors, and community leaders in our new space.
Let us tell you about our new digs! CFAAC’s new office will have ample space for our staff team to grow, to host onsite community leadership events, programs, and activities, and to partner with local nonprofits and donors.
The location is accessible via route 50, a major road used from all areas of the county. The building offers wonderful parking, including handicapped parking for easier access, and our guests will find a welcoming lobby area and elevator access to the office.
The office has a large conference room space that will provide flexibility for meetings as well as educational programs and trainings that will increase our ability to bring various groups together. An additional small conference room will also be available as a second meeting room, which is often needed, for more intimate meetings, and for staff collaboration.
Following health and safety protocols, we are in the beginning stages of our move including packing up boxes, scanning and recycling important documents, and purging all the little extras that have accumulated over the past 10 years. While it is bittersweet to say goodbye to the place that we have called home for so long, we are excited to begin this next chapter for CFAAC and cannot wait to welcome you!
Mary Spencer, CFAAC President & CEO, joins Annapolis Small Business Recovery Task Force
Mary Spencer, CFAAC President and CEO, was invited by Mayor Gavin Buckley to serve on the Annapolis Small Business Recovery Task Force. Serving as Co-Chair of the Nonprofit Subcommittee along with Historic Annapolis’ President and CEO Robert Clark, Mary is proud to be a voice for local nonprofit organizations, who not only improve the lives of individuals in our community, but have significant, far-reaching impact on the local economy.
The Small Business Recovery Task Force was established through Annapolis City Council Resolution R-25-25 to focus on the experiences that Annapolis businesses are facing in the time of COVID-19 and to come up with recommendations for assistance for the local small business community.
COMMUNITY IMPACT
BGE gives $192,000 to CFAAC Community Crisis Response Fund for COVID-19 Relief
The Community Foundation of Anne Arundel County (CFAAC) is thrilled to announce a $192,000 donation from BGE to its Community Crisis Response Fund. This gift will enable CFAAC to continue making emergency response grants to local nonprofits serving Anne Arundel County’s most vulnerable residents due to the health-related and economic impacts of the Coronavirus pandemic.
“We are grateful to BGE for their investment and trust in the CFAAC Community Crisis Response Fund to quickly respond to the needs of our residents who have been deeply affected by COVID-19,” said Mary Spencer, CFAAC President & CEO. “Gifts like this are essential to easing the burden this pandemic has placed on our community, and we hope it will inspire other individuals, families, and businesses to join in contributing funding to sustain this vital effort.” Read more about the BGE donation here.
CFAAC would like to thank the following businesses and foundations who, along with the support from over 600 individuals, have raised nearly $440,000 for the fund.
- Baum Jackson Investment Group Charitable Foundation
- BGE
- Brooks Family Fund
- Crosby Foundation
- David Lewis Family Foundation
- Deerbrook Charitable Trust
- Frank's Fund
- Jim and Linda Humphrey Foundation
- Invictus (IMDV) Fund
- William J. & Dorothy K. O'Neill Foundation
- Mary and Dale Spencer Charitable Fund
- Whole Foods Market
2020 Scholarship Recipients
- Ms. Danielle Jensen was awarded both the Herzberg-Wild Scholarship and the Officer Grant Turner Memorial Scholarship. Ms. Jensen plans to attend the University of Maryland Baltimore County in the fall to pursue a degree in math and finance.
- Mr. Blas Montano was awarded the Herzberg-Wild Scholarship. Mr. Montano plans to attend Morgan State University and will study architecture.
- Mr. Milliard Heinze, III was awarded the Officer Grant Turner Memorial Scholarship. He plans to Ursinus College and will pursue a master’s degree in astrophysics.
AAWGT Awards $139,381 to Anne Arundel County Nonprofits
Anne Arundel Women Giving Together (AAWGT) is a women’s giving circle fund at CFAAC. Its mission is to improve the quality of life for women and families in Anne Arundel County, Maryland. This year they have awarded $139,381 to the following organizations: Newtowne Community Development Corporation, Annapolis Immigration Justice Network, Anne Arundel County (AAC) Food Bank, Inc., Chrysalis House, Inc., HOPE For All, Inc., The Light House, Inc., Seeds 4 Success, Services from the Heart, and Touchstones Discussion Project. To learn more about the projects funded for each of the organizations visit: givingtogether.org/News
One Annapolis Streaming Festival
CFAAC was honored to partner with the One Annapolis Streaming Festival, a virtual fundraiser to benefit community organizations providing resources for domestic violence, food insecurity, homelessness, mental health, and substance use disorders during the COVID-19 Pandemic. $3,912.67 was raised during the event to support the following five organizations:
- Food Security - Cal Ripken Sr. Foundation, designated for Feed Anne Arundel
- Substance Use Disorder - First Christian Community Church of Annapolis
- Homelessness Prevention - Co-Op Arundel
- Mental Health - Street Angel Project, Inc.
- Domestic Violence - YWCA of Annapolis and Anne Arundel County
Watch highlights of the May 23rd event, visit the One Annapolis Facebook page.
STRENGTHENING NONPROFITS
Chaney Enterprises Foundation Fund’s next grant cycle opens July 1
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 from July 1 through August 30, 2020. Learn More & Apply Here.
Community Grants
Anne Arundel Small Business Grant Fund available for Nonprofits
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.
IMPACT100 Greater Chesapeake Grant
IMPACT100 Greater Chesapeake will award one $54,000 grant to one local nonprofit who offers services in the Greater Chesapeake area in the areas of Arts and Culture, Education, Environment, Family, or Health and Wellness. Details of the grant application process and the application can be found on the Impact100 Great Chesapeake website. The deadline is June 30 at 11:59 p.m.
Partner Events
AAWGT Presents: Trimming Health Inequity: Barbershops and Beauty Salons as Trusted Partners | June 17 at 7:00 p.m.
Anne Arundel Women Giving Together (AAWGT) presents a free educational webinar. Barbershops and beauty salons have long been trusted gathering places. Dr. Stephen Thomas and the Health Advocates In-Reach & Research (H.A.I.R.) Program use the strength of this trusted relationship to bring critical health screenings and information out into the community. Research and experimentation are proving this method of outreach and education is working. Learn how barbershops and beauty salons help to save lives before and after Covid-19. LEARN MORE & REGISTER HERE
NEWS FOR PROFESSIONAL ADVISORS
Donor Advised Funds: Working hard for our community
Donor Advised Funds are a popular charitable giving tool. And right now is a perfect time to evaluate this planning strategy for your clients.
In recent years, Donor Advised Funds have been one of the fastest-growing philanthropic planning tools in the marketplace. These funds are popular because they allow an individual or family to make a tax-deductible transfer that qualifies as a charitable contribution, and then recommend grants to favorite charities from the fund when the time is right. A Donor Advised Fund operates a lot like a checking account for charity, and it is established according to IRS guidelines that provide tax advantages for the donor as well as administrative efficiencies.
Amid the Covid-19 pandemic, giving from Donor Advised Funds at community foundations is accelerating. This is creating a significant boost for nonprofits and people in need. Indeed, the global healthcare crisis is precisely the reason that many donors establish Donor-Advised Funds in the first place: to be ready to give when needs are the highest.
According to a recent survey conducted by the Community Foundation Public Awareness Initiative, grants from Donor Advised Funds among the 64 community foundations surveyed increased nearly 60% in March and April 2020 compared with March and April 2019.
Consider working with your clients to activate their existing Donor Advised Fund or to establish a new fund with CFAAC to help respond to the needs created by Covid-19. A donor-advised fund helps the community right now and allows your clients and their families to build a legacy to address the community’s needs during future crises.
Important reminders: QCDs and CLAT
Our recent communications have highlighted the unique importance of Qualified Charitable Distributions (QCDs) and Charitable Lead Annuity Trusts (CLATs) in today’s market conditions. Given the critical needs facing our community right now, CFAAC wants to reiterate the value of these two planning tools. We are inviting you to contact us if you have any questions about how these charitable giving techniques can help you and your clients immediately support people in need.
In the case of Charitable Lead Annuity Trusts, some experts are heralding a “golden age of CLATs” because of the convergence of historically low interest rates and depressed asset values. The timing may never be better for your clients to use a CLAT to create an income stream to charities, thereby satisfying their current goals for amping up philanthropy in this period of extreme need, and simultaneously establish a future gift to heirs with the trust’s remainder.
Don’t overlook Qualified Charitable Distributions, either, as a way to meet the urgent needs of the charities your clients want to support. The Coronavirus Aid, Relief, and Economic Security (CARES) Act waives Required Minimum Distributions for most taxpayers. The provision includes not only distributions from 401(k)s and IRAs, but also defined benefit pension plans and 457 plans. Taxpayers who have reached 70½ years of age still can take advantage of the Qualified Charitable Distribution, enabling a taxpayer to direct up to $100,000 from an IRA to qualified charities. The distribution is not included in taxable income.