FOUNDATION NEWS
A Message From our President & CEO
What a whirlwind these past few weeks have been—publishing our 2022 Community Needs Assessment, presenting the findings at our public sessions (don’t miss the last one on November 14), and hosting our 22nd annual Celebration of Philanthropy Awards Luncheon!
Our Celebration of Philanthropy Awards always serves to offer a promise for the future. With wonderful people and organizations who do so much for our community, it’s hard to be anything but optimistic. Read about the event in this newsletter. And if you didn’t get a chance to attend, you can view photos from the event and read more about the award recipients on our website.
In the course of our hectic and busy lives, it is often easy to forget to reflect on the things that we are thankful for on a daily basis. This time of year serves as a reminder to not only be grateful for the things we have but also for the people who truly make a difference in our lives. CFAAC is able to make an impact on our community because of you—our donors, community partners, board members, and volunteers. Thank you.
I am also grateful for my work here at the Community Foundation and being part of an incredible team of dedicated individuals working to make our county a better place. At the Community Foundation, we are always exploring new ways to support you and your charitable goals. We know that you are thoughtful in your giving and we are extremely thankful for your continued support. As this year comes to a close, please consider a gift to CFAAC so we can remain advocates for our local nonprofits, meet our community’s needs, and aid you in achieving your philanthropic goals.
From all of us at CFAAC, have a wonderful Thanksgiving!
Mary Spencer
President & CEO
CELEBRATION OF PHILANTHROPY
2022 Celebration of Philanthropy: An Event to Remember
Last week, the Community Foundation honored eight community difference makers and six dedicated professional advisors at our 2022 Celebration of Philanthropy Awards Luncheon. Two hundred and fifty people attended the event to celebrate these incredible philanthropic community leaders.
The eight award recipients are Philanthropist of the Year Award, Carol B. Sisco, nominated by the Annapolis Maritime Museum; Corporate Philanthropist of the Year, Live! Casino Hotel Maryland®, nominated by the Anne Arundel County Food Bank; Volunteer of the Year, Tatiana Klein, nominated by Marshall Hope Corp.; Young Volunteer of the Year, Ella Edwards, nominated by Luminis Health Anne Arundel Medical Center Foundation; Carroll H. Hynson, Jr. Award for Diversity, Equity, and Inclusion in Philanthropy, Calandra Dixon Layne, nominated by the Junior League of Annapolis; Boots on the Ground Award, Bruce Morgenstern, nominated by Anne Arundel County Food Bank; Carol Thompson Lifetime Achievement Award, Leo Zerhusen, nominated by HOPE for All; and Legacy Award for Planned Giving, The Estate of Emily and Donald Sheets, nominated by Luminis Health Anne Arundel Medical Center Foundation.
CFAAC also launched its new Professional Advisors Recognition Society at this year’s Celebration of Philanthropy, naming six inductees to its inaugural class. CFAAC created the Professional Advisor Recognition Society to acknowledge professional advisors for their commitment and service to the community and their work to support philanthropy and encourage charitable giving across Anne Arundel County. The following individuals were honored: Frank Campbell, Sims & Campbell; Christine W. Hubbard, Law Offices of Christine Hubbard, LLC; Michael E. Lehr, Sims & Campbell; Chadwick Watson, Charter Financial Group; Karen M. Whaley, Karen M. Whaley, CPA and Richard T. Wright, The Wright Firm.
Thank You to Our Celebration of Philanthropy Sponsors
We are grateful to the following people and organizations for their sponsorship of the Celebration of Philanthropy Award Luncheon:
- Platinum Sponsors -
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- Gold Sponsors -
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- Silver Sponsors -
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- Bronze Sponsors -
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Boatyard Bar & Grill Larry Burrows & Dawne Widener Burrows Carl & Anita Gutschick Mr. & Mrs. David Mitchell Rosso Commercial Real Estate Services Shore United Bank Bill Thompson Martha Van Woerkom |
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- Friends of Philanthropy -
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Harry & Kate Caldwell Mary Grace Folwell & Jeff Riedle Hague Quality Water of Maryland Warren & Anne Hamel The Junior League of Annapolis, Inc. |
John Olson, CFP, RICP, MBA Mary & Dale Spencer Greg & Trish Strott Dr. Neil J. Weissman Karen M. Whaley, CPA |
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MAKING A DIFFERENCE
You’re Invited! Our Last Public Needs Assessment Report Presentation of 2022
We invite you to attend our last public needs assessment report presentation on November 14th from 6:00 to 8:00 p.m. at Anne Arundel Community College.
The report’s author, Pamela Brown, Ph.D., the Executive Director of the Anne Arundel County Partnership for Children, Youth and Families, will be making the presentation, offering the community the opportunity to understand the needs and the gaps in services that exist in Anne Arundel County.
The Community Foundation of Anne Arundel County’s 2022 Anne Arundel County needs assessment, Poverty Amidst Plenty VII: Moving Forward Together is now available electronically. The community needs assessment is a data-rich report intended to increase knowledge and awareness about persistent local trends and needs in Anne Arundel County. Download a copy of the report here.
Reminder: Stock Monday is Just Around the Corner
This year, Stock Monday falls on November 28. And even though the market is volatile right now, it’s important to keep a long-term perspective especially when it comes to donating stock. First, market swings are normal, and second, some of your stocks may still hold significant appreciation after years of market growth. Donating this long-term appreciated stock to the Community Foundation can be very advantageous to your charitable giving. How? When you give stock, you can save money, give more at no additional cost, and make a larger impact on your community! In addition to avoiding capital gains taxes, stock donations are also tax deductible. So, if you itemize deductions from your federal income tax, you can deduct the donation from your taxable income. When you donate stock to CFAAC for causes you care about, your dollar will go further than if you were to sell the stock and donate cash. This is because the money you would have paid in taxes can instead go fully to your favorite nonprofits. It’s a win-win!
A Different Way of Approaching Legacy Planning
We understand that there are many necessary elements and legalities to executing a will or trust. Perhaps that’s why it’s hard for some of us to know where to begin. However, maybe all it takes is a different approach.
Many of our donors find that if they simply start with some personal contemplation time, the rest of the planning and the creation of necessary documents proceeds much more easily. Sometimes, it can be as simple as writing a letter to themselves.
So why not open your laptop or grab a paper and pen and give it a try? Visit our website for some thoughts to get you started.
STRENGTHENING NONPROFITS
CFAAC Offers Local Nonprofits Community Crisis Response Fund Grants with Federal ARP Funds-Closing November 18
CFAAC is receiving $1 million in Federal American Rescue Plan (ARP) Funding from Anne Arundel County to grant to our local nonprofits in the coming months. Grants between $10,000 and $50,000 will provide financial assistance to eligible nonprofits that identify solutions to the needs and gaps in services identified in the 2022 Community Needs Assessment Report Poverty Amidst Plenty VII: Moving Forward Together, and who sustained a loss of income/revenue and/or an increase of programming or expenses due to COVID-19’s impact on their operations and the communities they serve. Applicants are strongly encouraged to pre register for a public presentation of the 2022 Community Needs Assessment.
The application closes on November 18, 2022. All applicants must be Anne Arundel County 501(c)(3) nonprofits that serve communities within the county. Grant requests between $10,000 and $50,000 will be considered and funds are to be used between February 1, 2023 and December 31, 2023.
Nonprofit Strengthening Workshop Series Survey
CFAAC is partnering with Arundel Community Development Services and Anne Arundel County to support nonprofit organizations in building and strengthening their capacity. As part of our efforts, we hope to offer a Nonprofit Strengthening Workshop Series in early 2023.
We would love the input of local nonprofits and feedback as part of the workshop-planning process so we can meet your exact needs.
Please complete this short 3-5 minute survey to indicate your preferences for the topics, format, and delivery of the workshops. Please complete the survey no later than November 22, 2022.
Maryland Nonprofits Launches Nonprofit Accelerator Program
Maryland Nonprofits is proud to announce the upcoming launch of the Nonprofit Accelerator Program, which will include: on-demand and cohort-based education; training, technical assistance; strategic counsel; coaching; and cost-effective back-office services. Currently, the program offers:
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Nonprofit Development Center Program: Small nonprofits –less than $750,000 and less than 10 years old– can access free training and technical assistance services through the Maryland Nonprofit Development Center with an easy online application.
Learn more at: www.marylandnonprofits.org/
COMMUNITY IMPACT
CFAAC Awards Grants to Six Local Nonprofits
The Community Foundation of Anne Arundel County awarded a total of six grants to local nonprofits—three Environment Anne Arundel Fund grants and three Women and Girls Fund grants.
Environment Anne Arundel Fund Grants
Anne Arundel County is known for its beautiful parks and waters and that’s why issues concerning the environment remain a priority. To address concerns such as stormwater management, and/or increasing community awareness and involvement in the restoration and protection of the Chesapeake Bay, local streams and rivers, and other natural areas, CFAAC’s Environmental Anne Arundel Grant Program recently awarded three grants, totaling $10,000, to the following three organizations.
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Severn River Association
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Annapolis Maritime Museum
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Scenic Rivers Land Trust, Inc.
Women and Girls Fund Grants
Grants from the Women and Girls Fund are used to support nonprofits that help women and girls pursue positive, productive lives by helping remove barriers, increasing their economic security, enhancing their well-being and safety, and empowering them to make positive life decisions for themselves and their families. CFAAC’s Women and Girls Grant Program recently awarded three grants, totaling $7,500, to the following three organizations.
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Joy Reigns Lutheran Church: Journey to Joy 3/4 Recovery House Rental Scholarships
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Junior League of Annapolis, Inc.: Period Poverty
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Maryland Therapeutic Riding, Inc.
AAWGT Event: Adult Literacy in Anne Arundel County
Wednesday, November 9, 2022
6:00 p.m. to 7:00 p.m.
via Zoom
Anne Arundel Women Giving Together (AAWGT) presents “Adult Literacy in Anne Arundel County.” Local literacy experts Jane Seiss, Executive Director, Anne Arundel County Literacy Council; Susann Felton, Math and High School Tutor and Trainer; and LaToya Saunders, Literary Council Alumna and High School Diploma Graduate, will address and discuss the state of adult literacy in Anne Arundel County and Maryland where 15% and 20% of adults, respectively, have a low level of literacy. The ramifications of low-reading ability affect all areas of life, including health, household income, and outcomes for children. The Literacy Council, which has been providing services since 1977 and has a membership of more than 300 tutors, offers a wide range of free, weekly, one-on-one services to help both adults and youth build their literacy skills.
Learn More and Register Here.
If you have any questions, please contact events@givingtogether.org for assistance.
NEWS FOR PROFESSIONAL ADVISORS
Strong Year-End Giving in a Bear Market: Donor Advised Funds Come in Handy
Giving appreciated stock to charitable organizations is certainly a highly-effective tax strategy. During years when highly appreciated stock is in short supply, however, implementing this strategy could be difficult.
This is when Donor Advised Funds are especially handy. Now is the time to discuss charitable giving with those clients who regularly added to their Donor Advised Funds throughout the market’s long bull run. If these clients intend to ride out today’s market conditions in their personal portfolios, this year’s bear market doesn’t mean the clients’ year-end charitable giving has to take a hit. These clients can use their Donor Advised Funds to support their favorite organizations, sometimes even at levels consistent with prior years.
Adopt a “Donor Beware” Attitude When Clients Make a Non-Marketable Gift
Market declines and inflation have made 2022 a more challenging year for some clients to fulfill their traditional giving objectives or early year gifting intentions.
Your clients may be considering alternatives to cash or securities for their gifts to charity. You and your clients need to be aware of the rules—meaning the IRS’s rules—to both meet the clients’ objectives and stay in Uncle Sam’s good graces.
A high-level understanding starts with the $5,000 threshold for documentation that appears on IRS Form 8283, titled Noncash Charitable Contributions. This form is required to be filed with any tax return claiming such a deduction.