FOUNDATION NEWS
A Message From our President & CEO
We are extremely excited to announce that we are publishing our latest community needs assessment report, Poverty Amidst Plenty VII on October 1. It was our pleasure to work with Pamela Brown, Ph.D.; the Anne Arundel County Partnership for Children, Youth, and Families; and a host of other contributors on this imperative assessment of our county. The report will be accessible through our website and will also be presented by Pam to the public at three different venues throughout the county. It is chockfull of useful data and information that can play a critical role in guiding priority-setting and decision-making while involving community members in the process. This assessment will be of significant interest to people in all areas of our county. Read more about it and the upcoming presentations in this newsletter.
As summer fades, we are also busy preparing for new events as well as our signature event—our annual Celebration of Philanthropy. The nomination process is closed and we received many amazing nominations. The Selection Committee, composed of previous Celebration of Philanthropy awardees and local nonprofit leaders, recently met to decide who of all these deserving nominees will be recognized in each category at this exciting (in person!) event. An official announcement with this year's honorees will be sent out early next week. Now that the choices have been made, our staff begins the job of pulling together all of the many puzzle pieces of the program to create one cohesive and memorable event. There are still sponsorship opportunities available and we would be forever grateful for your help making this signature event one that will be extraordinary.
Other upcoming events are sprinkled throughout this newsletter and it is our hope that you will join us for one or all!
Hope to see you soon.
Mary Spencer
President & CEO
COMMUNITY IMPACT
Thank You to Our Latest Celebration of Philanthropy Sponsors
We are grateful to the following people and organizations for their sponsorship of the upcoming Celebration of Philanthropy Award Luncheon:
- Platinum Sponsors -
- Gold Sponsors -
- Silver Sponsor -
- Bronze Sponsors -
Shore United Bank
Martha Van Woerkom
- Friends of Philanthropy -
Harry and Kate Caldwell
Mary Grace Folwell & Jeff Riedle
Mary and Dale Spencer
Greg and Trish Strott
Karen M. Whaley, CPA, CSEP
Sponsor CFAAC’s 2022 Celebration of Philanthropy Awards Luncheon
Want to promote your business to some of Anne Arundel County’s most invested and charitable residents? Then consider sponsoring CFAAC’s Celebration of Philanthropy Awards Luncheon. 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. There are six levels of sponsorship available:
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Presenting Sponsor, $20,000
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Platinum Sponsor, $10,000
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Gold Sponsor, $5,000
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Silver Sponsor, $2,500
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Bronze Sponsor, $1,000
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Friend of Philanthropy, $500
Read more about the benefits of each level here and become a sponsor here.
For questions about the Celebration of Philanthropy Sponsorships, please contact Director of Development, Damika Baker-Wilson at damika@cfaac.org.
MAKING A DIFFERENCE
Poverty Amidst Plenty Community Needs Assessment To Be Released
You're Invited! Attend a Presentation and Critical Conversation About Our County's Needs Assessment with Pamela Brown, Ph.D.
CFAAC invites everyone to attend one (or all) of the upcoming community needs assessment report presentations by Pamela Brown, Ph.D., the Executive Director of the Anne Arundel County Partnership for Children, Youth and Families. These information sessions are open to the public and will be held at Maryland Hall for the Creative Arts on October 14, 9-11 am; the Chesapeake Arts Center on October 24, 2-4 pm; and Anne Arundel Community College on November 14, 6-8 pm.
The 2021 Community Needs Assessment Report, Poverty Amidst Plenty VII, a data-rich report intended to increase knowledge and awareness about persistent local trends and needs in Anne Arundel County, will be published on October 1, 2022. Poverty Amidst Plenty VII is the result of a collaboration with Dr. Brown and the Community Foundation of Anne Arundel County; Anne Arundel Medical Center; University of Maryland Baltimore Washington Medical Center; Anne Arundel County Department of Health; Anne Arundel County Mental Health Agency; and the Anne Arundel County Partnership for Children, Youth and Families.
The report and information sessions are intended to spark powerful conversations and become an important first step that the county can use to improve the systemic gaps that exist. These critical conversations will be focused on transforming and strengthening our community. Be a part of it!
Estate Planning - Women’s Edition: How to Go From Overwhelm to Empowerment
Monday, October 24, 2022
7:00 p.m. to 8:00 p.m.
via Zoom
If you are a woman who is thinking about creating an estate plan, then join Attorney Elsa W. Smith for this important webinar. Elsa will discuss the obstacles women from various backgrounds face when creating an estate plan.
She will then transition to solutions that estate planning offers, providing anecdotes as examples in a nonjudgmental safe space. The webinar’s objective is to communicate that estate planning is a “must have” instead of a “nice to have.” Elsa will take your questions after her presentation as well as encourage you to take action toward protecting your life and legacy.
STRENGTHENING NONPROFITS
Grants 4 Teachers Grant Application Closes September 30th
Learn More About Grants 4 Teachers
Girls on the Brink—Raising Emotionally Healthy Girls: An Evening of Conversation with Author Donna Jackson-Nakazawa
Wednesday, September 28, 2022
7:00 to 9:00 p.m.
Via Zoom
Adolescent girls today tend to be more prone to depression and self-harm than ever before. It is this disturbing trend that led award-winning author Donna Jackson Nakazawa to research the science behind this growing crisis, interview girls about their adolescent experiences, investigate supportive solutions, and write about it in her new book, Girls on the Brink: Helping Our Daughters Thrive in an Era of Increased Anxiety, Depression, and Social Media. Join CFAAC on September 28 as local pediatrician Dr. Faith Hackett interviews Donna to explain the research behind the book and discuss new findings that reveal that the crisis facing today’s adolescent girls is both a psychosocial and a biologically rooted phenomenon.
TICKET OPTIONS:
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EVENT & BOOK OPTION: $40
With this option attendees will receive a copy of the book, Girls on the Brink: Helping Our Daughters Thrive in an Era of Increased Anxiety, Depression, and Social Media, published by Random House/Harmony. Attendees will also receive a Book Club Kit, which includes a Q&A with Donna and a sneak peek of excerpts from the Introduction and the chapter, Is This a Toxic Era for Girls? before the event. The book, designed to be a guide for parents, families, and all, to help secure a healthy emotional inner life for our young girls, will be published on September 13, 2022, and all participants who register by September 21 will receive their books in time for the event. Paid registrations after September 21 may receive books after the event. -
EVENT ONLY OPTION: Free
With this option, attendees will receive just the zoom link for the event to participate in the conversation. Attendees will not receive a copy of the book, the Book Club Kit, or the sneak peek.
Reserve your seat today for this enlightening, must-attend program. This event is open to the public and is part of CFAAC's Community Impact Speaker Series.
NEWS FOR PROFESSIONAL ADVISORS
Inherited IRAs: Big Headache, or Big Opportunity
Until the law changed a few years ago, a client who was named as the beneficiary of a parent’s IRA, for example, could count on a relatively straightforward and tax-savvy method of withdrawals called the “stretch IRA.” With the passage of the SECURE Act, that changed for many clients who inherited an IRA after December 31, 2019. Instead of taking distributions over their lifetimes, affected clients would need to withdraw the entire inherited IRA account within a 10-year period as calculated under the law.
However, when the IRS issued proposed (but not yet final) regulations earlier this year, it seems to have caused some confusion. Now, advisors and clients are facing an acute discrepancy between what had been understood by practitioners immediately after the SECURE Act was passed, on one hand, and what the IRS has included in the proposed regulations, on the other hand.
Highly-Appreciated Stock: If Your Client Missed the Ideal Window, Remind Them That it’s Not Too Late to Support Charity
During a routine check-in meeting, your client casually mentions that the client’s employer, a local company, was just acquired. The client and dozens of fellow employee shareholders are now flush with cash.
“I’d like to use some of the money to give to charity,” the client tells you. “Let’s talk about a family fund at the Community Foundation.”
You know that your client could have avoided the capital gains taxes if they had given some of those shares to a fund at the Community Foundation years ago when the company was growing fast, making it a natural target for acquisition or IPO, but well before an exit was in the works. This situation can be all too common, but it presents a good reason to regularly remind clients about their options for making gifts to charity and the tax benefits of each. Here’s how you can still help.
The “I’s” Have It: Two Key Topics for Client Meetings
Inflation, interest rates, income tax, and the IRS are ever-present topics during discussions with your clients. Right now, there’s a lot to talk about, especially related to charitable giving.
There are two hot topics that may take a front seat in your client conversations this fall as you help clients consider their options for structuring charitable giving and philanthropic legacies in the current economic environment.