Sharpe Blog

Some individuals who own real estate like the idea of swapping the real estate for a gift annuity. Especially if they’ve grown tired of managing the property and see the gift annuity as a good way of replacing the income the property provides. This can be a good deal for the donor. And a bad …Read More

The IRS discount rate (7520 rate) has a big effect on charitable remainder annuity trust (CRAT), charitable lead annuity trust (CLAT) and gift annuity calculations but has almost no effect on unitrust calculations. CRAT calculations: The 7520 rate adversely affects two CRAT calculations: [1] the charitable remainder calc and [2] the 5% probability calc … …Read More

I’ve got my memories Always inside of me But I can’t go back Back to how it was I believe you now I’ve come too far No I can’t go back Back to how it was Created for a place I’ve never known This is home Now I’m finally back to where I belong Where …Read More

The first part of this article was featured in the latest issue of Sharpe Group’s bimonthly newsletter Give & Take. Click here to read it. Here, I will further explain the provisions of the CARES Act as they relate to nonprofits and then offer ideas to help you evaluate whether your current planned giving strategy …Read More

Background In the May/June issue of Give & Take, The Value of Stewardship, Part 1 of 2: First Do No Harm showed how the acceleration of a bequest intention stewarded unsatisfactorily in the eyes of the donor led to its revocation. What is the nature of the risk to the charity when a donor makes …Read More

One of the lesser known aspects of a donor advised fund (DAF) is the advisory privilege on investments.1 Presently there are no regulations under sec. 4966 of the Internal Revenue Code (Code) providing guidance. The practice of charities sponsoring DAFs has been to maintain legal ownership and control of the assets after receipt. Failure to …Read More

Congress recently passed the unprecedented CARES Act, a $2 trillion stimulus package aimed at helping the American economy and its most vulnerable businesses, small businesses and individuals recover from the repercussions of the COVID-19 pandemic. Included in the stimulus package is a direct payment of $1,200 to millions of individuals, with an additional $500 for …Read More

The CARES Act creates two incentives for 2020 individual giving: One allows an itemized charitable deduction for up to 100% of adjusted gross income for cash gifts paid in 2020 to qualified charities. The donor must elect this provision. The IRS will instruct taxpayers how to make the election. The other allows a $300 above-the-line …Read More

In the last few weeks, we’ve been reading press reports that both for-profit companies, like the national restaurant chain Ruth’s Chris Steak House and the NBA’s Los Angeles Lakers, and nonprofit institutions applied for—and received—the allocated resources for small businesses under the Paycheck Protection Program (PPP). It is likely many organizations with fewer than 501 …Read More

There’s a place down by the ocean Where I take my mixed emotions When my soul’s rocked by explosions Of these tired times Where love sings to me slowly Even when I feel low and lonely Even when the road feels like The only friend of mine One light, one goal One feeling in my …Read More