Discover the latest updates in our August edition! From CFAAC news and impact to Make a Will Month, monthly giving, new funds, grants, events, and insights for professional advisors—it's all here. Plus, get the scoop on the 2024 Celebration of Philanthropy Awards!
FOUNDATION NEWS
A Message From our President & CEO
As we wind down this summer, we are gearing up for a busy fall. Nominations for our 24th Celebration of Philanthropy Awards are in, and a committee comprised of staff, board members, and past awardees is reviewing applications and letters of support to select the 2024 awardees. This is not an easy task as our nomination pool was strong once again this year. We are super excited to find out who will be honored for their unyielding dedication and philanthropy in our community. Stay tuned!
With voting ongoing, we hope that you will consider joining us at our Celebration of Philanthropy Awards Luncheon at LIVE! Casino & Hotel Maryland on October 30 when we celebrate these amazing individuals. Find out more about tickets and sponsorship in this newsletter.
August is Make a Will Month, an important reminder for all of us to either draft or update our wills and to have our estate planning matters in order. Estate planning can be prepared during any stage of our life. And the Community Foundation can work with you and your professional advisors if you want to donate all or part of your estate to causes that you are passionate about.
Along those lines, we will be hosting an educational session in September that discusses multi-generational giving including how to plan next steps to ensure your giving continues through many generations. We are delighted to welcome CFAAC's former Director of Gift Planning, Rosemary Calderalo, to lead that session. As a 21/64 Certified Advisor, Rosemary will offer insights on generational wealth and philanthropy based on her extensive experience working with generous multigenerational families who are committed to supporting the causes they care about.
Enjoy the last long days of summer and get ready for a busy fall with the Community Foundation leading the way.
As always, thanks for your continued interest in and support of our community.
Mary Spencer
CFAAC President & CEO
The 2023 Annual Report is Here!
Our annual report highlights the Community Foundation of Anne Arundel County’s significant community impact in 2023 such as distributing 657 grants and 10 scholarships totaling nearly $7 million dollars in funding.
It also features stories on a few of our many generous donors, as well as some of the passionate nonprofits that are working to create meaningful change in our community. Be sure to take a look at how your generous support is making an impact in Anne Arundel County and beyond. Read the Report
Mary Spencer Named an Influential Marylander
Congratulations to Mary Spencer! Mary was recently named as one of The Daily Record's 2024 Influential Marylanders for her significant contribution and leadership in philanthropy.
“The 2024 Influential Marylanders are accomplished leaders who demonstrate vision and innovation. What they focus their attention on really matters; what they say is important; and what they do makes a difference for many of us in Maryland and beyond,” said Suzanne Fischer-Huettner, managing director of BridgeTower Media/The Daily Record. “Influential Marylanders are mentors to other leaders, and they challenge us to realize and attain our own hopes and dreams. We are honored to recognize their many accomplishments.” Read More
Make a Will: It's Easier Than You Think
August is Make a Will Month, a reminder to prioritize creating a will for you and your loved one’s protection. Many delay this task because they think it’s only for the wealthy or the elderly, and nothing can be further from the truth. Making a will is for any person who has assets at any stage of his or her life.
A will, a legally binding document that allocates your assets and appoints heirs and guardians after your death, can save your loved ones time, stress and money. It can also allow you to continue to support your favorite nonprofit(s) once you pass away.
Consulting with professional advisors such as estate planning attorneys and financial advisors is wise. They understand your unique financial position and specific state requirements, helping you to navigate the complexities of estate planning. Read More
In Case You Missed It: July's CFAAC Commentary in The Capital Gazette
How Major Life Events Shape Our Charitable Giving
By Mary Spencer, CFAAC President & CEO
Graduating college, buying a home, having children, selling a business and retirement—these are just some of life’s experiences that are considered major life events. While some of these events bring happiness and others may trigger a little stress, they all bring about change—change in the way you think about your work, lifestyle and money.
These major life events may also cause you to reflect on your giving. Just as you set goals for your life, you can also strategically plan your philanthropy before each stage or event in your life. Read More
Why Wait? Take Advantage of Celebration of Philanthropy Awards Sponsorship Now!
By becoming an early Celebration of Philanthropy Awards sponsor, you’ll gain access to visibility that extends far beyond the event itself. Your sponsorship will not only be prominently featured during the Celebration of Philanthropy Awards Luncheon via signs, big screen, and program inclusion, but also in pre-event and post-event coverage on our website, social media, and newsletter. This continuous exposure ensures that you will remain top of mind before and after the event, so why wait? This year the Celebration of Philanthropy Awards Luncheon will take place on October 30 at LIVE! Casino & Hotel Maryland so mark your calendars and contact us today! Learn more about sponsorship levels and how to sponsor here.
Thank you to our 2024 Celebration of Philanthropy Sponsors!
- PLATINUM SPONSOR -
- GOLD SPONSORS -
- SILVER SPONSORS -
- BRONZE SPONSORS -
Bill Thompson
University of Maryland Baltimore Washington Medical Center
- FRIENDS OF PHILANTHROPY -
Mary and Dale Spencer Charitable Fund
Trish and Greg Strott
Martha Van Woerkom
Crystal Watkins William and Jerry Williams
August is Make-A-Will Month and the Community Foundation is a great resource for starting the estate planning process or for updating an existing plan. Planned gifts help donors create a lasting legacy with CFAAC. Join the Legacy Society at CFAAC and entrust us as stewards of your vision for our community's future by contacting John Rodenhausen, Director of Gift Planning at John@cfaac.org or by calling 410.280.1102 ext. 103. Learn More
MAKING A DIFFERENCE
Donor Marj Sparer Shares Why Monthly Giving Makes Sense
Growing up in a family where philanthropy was expected left an indelible impact on Marj Sparer. When she married, she and her husband continued the tradition of giving to the causes they cared about. But, when Jerry passed, Marj faced a new reality. Relying on one income made her hesitant about maintaining the same level of giving. Dealing with what she called “widow brain” and an uncertain future, Marj continued to donate but let some causes slip through the cracks.
“I needed to come up with a new process so I didn’t miss contributing to organizations that were near and dear to our hearts,” she said.
That new process was to donate on a monthly basis and using a giving spreadsheet to keep track of contributions. She was surprised to learn that when she switched to monthly giving, she ended up returning to the same level of philanthropy as when her husband was with her. Marj suggests starting small—sage advice that she learned from her financial advisor when she was young.
“Take a small step—$10 or $25 a month can add up,” she said. “Start with one organization or start giving through the Community Foundation. They’ll make sure your funds go to well-respected, well-run organizations in the community.”
Giving monthly can also be convenient, added Marj. “It just made it simpler on my budgeting process and I felt like I was making a greater impact because the organizations didn’t have to waste their time and resources on coordinating and sending paper mail,” she explained. Read more
The Community Foundation of Anne Arundel County is thrilled to welcome the following to our family of funds:
BAY JOURNAL ENDOWMENT FUND
A Designated Fund established by Bay Journal Media Inc. to provide independent environmental reporting for the Chesapeake Bay region.
THOMAS POINT SHOAL LIGHTHOUSE ENDOWMENT FUND
A Designated Endowment Fund established by a donor to support Thomas Point Shoal Lighthouse and its mission to preserve the lighthouse for future generations to enjoy.
STRENGTHENING NONPROFITS
GRANT OPPORTUNITIES
Women and Girls Fund Applications Close August 23
Grants from the Women and Girls Fund will be used to support nonprofits that help women and girls pursue positive, productive lives by helping 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. The mission of the fund is to support projects that develop individual skills, decrease isolation, create new experiences and empower women and girls who face major obstacles due to poverty, disability, domestic violence, and/or lack of access to resources.
Application Opened: July 15, 2024 | Deadline: August 23, 2024 | Award Size: $3,000 to $5,000 | Awards in October 2024. Learn More
Grants 4 Teachers Applications Open
Grants 4 Teachers funds highly creative ideas that otherwise would be impossible to implement in the classroom due to school system funding constraints. We want to help fund teachers' creative ideas to stimulate and inspire our students’ learning.
Application Opened: May 20, 2024 | Deadline: September 27, 2024 | Award Size: Up to $500 | Awards in October 2024. Learn More
UPCOMING EVENTS
Adult Mental Health First Aid Training Course (Virtual)
The Adult Mental Health First Aid course is appropriate for anyone age 18 and older who wants to learn how to help a person who may be experiencing a mental health related crisis or problem. Each course is $25/person and includes training and materials; each course is limited to 30 participants.
Important: To receive a certificate of completion, you must register by September 12th! You must complete both sessions to receive a certificate. The sessions will not be recorded.
This course is taught VIRTUALLY in TWO 3-hour courses (one hour of on-line prep work is required).
Dates: Tuesday, September 17, 5:30 to 8:30 p.m.
Tuesday, September 24, 5:30 to 8:30 p.m.
Location: Zoom
Instructor: Naeemah Staggs, MHS
Multi-Generational Giving: Families Working Together
What is multi-generational giving? How might families approach working together, sharing interests and priorities to help make the world a better place? In this session, we’ll discuss the stages of charitable giving, the basics of multi-generational giving, and why might multi-generational giving be an approach to consider. Through a series of exercises, we’ll discuss how to involve family members and plan out next steps. We’ll also examine how your Community Foundation is available to partner with you as you go forward.
Covered in this educational session:
- Overview of multi-generational giving and why might it be an approach to consider
- Overview of donor giving stages including self/partner/multi-generational
- A series of exercises on how to involve family members and plan out next step
- How you can work with CFAAC/community foundations
Date: Thursday, September 26, 9:30 to 10:30 a.m.
Location: Zoom
Instructor: Rosemary Calderalo, Ph.D., 21/64 Certified Advisor
NEWS FOR PROFESSIONAL ADVISORS
AAEPC Wine Down Wednesday
The Anne Arundel Estate Planning Council (AAEPC) invites its members and their guests to join them for their next Wine Down Wednesday. Enjoy appetizers, a cash bar, and networking. Free for AAEPC members.
Wednesday, August 21, 2024
5:30 to 7:30 p.m.
Carroll's Creek Cafe
This event is generously sponsored by First National Bank.
Less Can Be More: Charitable Giving Helps Parents Pass Wealth to Children
Structuring estate and financial plans to leave just the “right” amount to children can be tough. The Community Foundation can help you incorporate charitable giving into the plans you are developing for parents who want to provide for their kids but don’t want to demotivate children’s own quest for financial independence. Read more.
Counting Pennies: How to Counsel Frugal yet Charitable Clients
The interplay between a client’s perception of personal wealth and charitable giving capacity presents interesting opportunities for client engagement. You may find yourself helping a client get comfortable with pursuing their charitable objectives while remaining secure in the knowledge that their financial plan is on track. Read more.
Gifts of Real Estate: Take the Proper Steps
Gifts of real estate to a fund at the Community Foundation can work wonders for both the charitable causes your client supports as well as the client’s tax situation. However, there are critical important steps to take in the process in order to comply with tax laws. Read more.
The Community Foundation of Anne Arundel County (CFAAC) is a tax-exempt, 501(c)(3), publicly supported philanthropic organization with the long-term goal of building permanent funds that provide support to local nonprofit organizations through grants and special projects. Our mission is to inspire and promote giving in Anne Arundel County by connecting people who care with causes that matter. Established in 1998, CFAAC is one of the largest funders of nonprofit organizations in Anne Arundel County. CFAAC distributes nearly $5 to $7 million annually. Learn more at www.cfaac.org.