The CARES Act

Posted May 17th, 2020

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

Should Nonprofits Accept the PPP Money?

Posted May 12th, 2020

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

Navigating Times of Change: Part V – Completeness

Posted May 10th, 2020

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

Working Together While Staying Apart

Posted May 7th, 2020

For every dark moment in our history, there are countless tales of everyday people coming together to accomplish extraordinary feats. This pandemic is no exception. Manufacturing equipment meant for making legos and baseball uniforms is being modified to produce personal protective equipment for hospitals facing shortages. Countless homemade masks are being sewn and donated by …Read More

Charitable Remainder Annuity Trusts … Youngsters Need Not Apply

Posted May 5th, 2020

As the saying goes, “age may have its privileges,” but in our current environment of low interest rates, don’t even try to establish a 5% charitable remainder annuity trust (CRAT)—the lowest payout rate permitted—unless: The donor is at least age 76. (For a two-life trust, at least one of the income beneficiaries must be age …Read More

Navigating Times of Change: Part IV – Mindfulness

Posted May 3rd, 2020

Little things I should have said and done I just never took the time You were always on my mind (you were always on my mind) You were always on my mind –Willie Nelson (Always on My Mind) This is part four of our series of navigating in these times of great change. In the …Read More

Too Much of a Good Thing May Be Inefficient, Even if Wonderful!

Posted April 30th, 2020

The COVID-19-triggered financial recession underscores for businesses and individuals the need to hold sufficient cash to ride out the tumult. For individuals with cash, or access to it, there are planning opportunities. With the equity markets well off their highs, now is an especially attractive time to consider a Roth conversion as part of retirement …Read More

Don’t Forget to Write

Posted April 28th, 2020

During this ongoing crisis with COVID-19, many of your donors may be sitting at home as well and could be thinking about their own mortality. Some online planning websites for wills have seen dramatic increases in traffic for those who want to update their plans. Yet some of your older donors may not be so …Read More

Navigating Times of Change: Part III – Thoughtfulness

Posted April 26th, 2020

I waited patiently for the Lord He inclined and heard my cry He brought me up out of the pit Out of the mire and clay I will sing, sing a new song –U2 (40) In the previous blogs, we discussed the importance of showing kindness to ourselves and others and the importance of togetherness …Read More

Protect Your Donors From Coronavirus Scams

Posted April 22nd, 2020

An unfortunate side effect of the coronavirus pandemic has been an uptick of scams looking to exploit the fear and uncertainty many of us are feeling. Those most vulnerable are seniors, who are often the target of scammers, especially now as they are most vulnerable to the virus itself. As charitable organizations, it is important …Read More