THIS ISSUE

FOUNDATION NEWS
A Message from our President & CEO

MAKING A DIFFERENCE
CFAAC Welcomes Two New Funds

COMMUNITY IMPACT
Honor Mom this Week with a Gift to CFAAC’s Women and Girls Fund

STRENGTHENING NONPROFITS
Anna E. Greenberg Board Leadership Event–Nonprofit Scholarships Available
AACPL Event: How To Start a Nonprofit Organization

NEWS FOR PROFESSIONAL ADVISORS
QCDs: Good News and Important Reminders

FOUNDATION NEWS

As a person who has been involved in philanthropy for most of my career, I have witnessed acts of generosity on a monumental scale. But I also witnessed small acts of kindness and helpfulness that truly make a difference⁠—students cleaning up school grounds, volunteers clearing a hiking path, scouts gathering canned goods, and gardeners donating their talents to beautify our community. What I’m saying is that no matter how big or small the generosity is⁠—it matters. 

This month, I thought I would share some small ways that we can all promote philanthropy and giving in our community and families. In addition to teaching your children empathy and kindness, participating in giving teaches them valuable life skills such as goal setting, money management, and project planning. Here are six ways to get you started:

• Walk the walk. Volunteer with your family. There are plenty of volunteer opportunities in Anne Arundel County. Check with your favorite local nonprofit or sign up for Anne Arundel Community College’s weekly email, which is chockfull of community volunteer opportunities here.

• Look for teachable moments. When you’re visiting our local museums, explain to children that people donate their time and money to keep them operating.

• Make it fun. Give funds to and volunteer at organizations that build on your or your children’s interests.

• Include giving in family traditions and celebrations. Birthdays, holidays, and other important family events are great occasions to talk about and set up giving opportunities. For example, at your next gathering, ask people to bring canned goods for a local shelter or food bank.

• Introduce media that promote generosity when children are young. Select popular books that discuss sharing and giving such as The Giving Tree by Shel Silverstein and The Giving Book by Ellen Sabin. Shows such as Mr. Rogers and Sesame Street also promote good works.

• Set up a family fund at CFAAC. This is a great way to involve children when they are younger or older. Just contact me at mary@cfacc.org or 410.280.1102, x 101, to discuss.

Sincerely, 

MAKING A DIFFERENCE

CFAAC Welcomes Two New Funds

The Community Foundation of Anne Arundel County is thrilled to welcome the following to our family of funds:

• The Trudy McFall Fund: This fund was established to support the philanthropic efforts and interests of the donor. 

• The Katherine Barnett AAWGT Lifetime Member Endowment Fund: An Endowed Fund established to support Anne Arundel Women Giving Together and its mission to support grant-making activities that are devoted to improving the lives, health, education, and well-being of women, their children, and families.

COMMUNITY IMPACT

Honor Mom this Week with a Gift to CFAAC’s Women and Girls Fund

The best gifts for mom are heartfelt, thoughtful, and meaningful. If you want a Mother’s Day gift that fits all of these categories, why not honor mom or that special woman in your life with a gift to the Community Foundation of Anne Arundel County’s Women and Girls Fund? Giving a gift in her honor will not only make her feel special but also will help the community. Grants from this fund are used to support nonprofits that help women and girls pursue positive, productive lives by helping to 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. Read more about the Women and Girls Fund here.

Make a Gift in Honor of Mom

STRENGTHENING NONPROFITS

Anna E. Greenberg Board Leadership Event: The Board’s Role in Organizational Resilience – Nonprofit Scholarships Available

Many organizations are reeling from the pandemic’s effect on their operations and attempting to navigate the still-shifting sands underneath them. Having to exert such focus on recovery can divert attention away from important board basics, which must still be tended so as not to lose ground. This conversation will surface best practices of nonprofit boards in steady-state operations as well as explore how the role of the board may be different when the organization is emerging from a crisis. Our facilitators will discuss common board building-blocks that support organizational resilience as well as address your specific challenges and questions. 

This event is for nonprofit executives, fund development professionals, and board members. Registration is required and limited to 60 participants. Attention nonprofits: There are a limited number of participation scholarships available for this event. The deadline is tomorrow, May 6. Please contact CFAAC President & CEO Mary Spencer, with questions at mary@cfaac.org.

Coffee and Continental Breakfast will be provided.

Presenters | Eliot Pfanstiehl and Monica Jeffries Hazangeles
Date | May 14 
Location | The Graduate Annapolis - 126 West Street, Annapolis
Time | 8 am to 12 noon 

Learn More & Register Here

AACPL Event: How To Start a Nonprofit Organization

Join the Anne Arundel County Public Library (AACPL) as they share the fundamental federal and Maryland requirements to start a 501(c)3 nonprofit organization from an experienced grants professional. Learn more and register here.

Wednesday, June 1st
2:00pm - 4:00pm
Busch Annapolis Library

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NEWS FOR PROFESSIONAL ADVISORS

QCDs: Good News and Important Reminders

Qualified Charitable Distributions (QCDs) have been in the news a lot lately, especially in light of the proposed SECURE Act 2.0 legislation that passed the House of Representatives in March and is now pending in the Senate.

Through a QCD, starting at age 70½, your client can instruct the administrator of an IRA to direct up to $100,000 per year to a qualified charity. This helps your client’s tax situation because the client does not need to report the amount of the QCD as taxable income.

Here are four important reminders about QCDs:

1. Even though the SECURE Act changed the Required Minimum Distribution age to 72 from 70 ½, the QCD age is still 70 ½.

2. QCDs cannot be made to Donor Advised Funds, but your client can set up a Field of Interest or unrestricted fund at the Community Foundation to receive a QCD.

3. Under a version of the proposed SECURE Act 2.0 legislation, QCDs would be indexed for inflation. In addition, the proposed legislation would allow a client to make a one-time QCD of up to $50,000 to a charitable remainder trust or other split-interest entity.

4. Finally, be sure to help your clients coordinate their QCDs with their Required Minimum Distributions. Proper planning will help avoid troublesome tax pitfalls.

Please reach out to the team at CFAAC to learn more about QCDs and how your client can establish a fund to support their financial and tax objectives as well as charitable giving goals. You can reach us at 410.280.1102.