Tools and Funds for Your Clients
TOOLS AND RESOURCES FOR YOUR CLIENTS
USING OUR WEBSITE AS A TOOL
The Community Foundation of Southern Indiana is here to serve as the philanthropic partner to you and your clients. Below are a number of resources available on our website to help you better serve their financial, charitable and estate needs.
Tools Available on our website include:
- Online Qualified Charitable Distribution Form
- Advisor Toolkit
- Gift Calculator
- Advisor Downloads
- Charitable Giving Tax Service
- Gift Planning Advisors’ Grid
- Gift Planning Tips
- Tax Cuts and Jobs Act
- Types of Funds
- Ways to Give
- Legacy and Planned Gifts
- Advisor FAQs
- Southern Indiana Estate Planning Council
As always, we’re here to serve as a charitable partner for you and your clients. If you have questions about how CFSI could help your clients accomplish their charitable goals by using one of the funds below, please don’t hesitate to contact me at 812-948-4662 or firstname.lastname@example.org.
Linda S. Speed, J.D.
President and CEO
CFSI CHARITABLE FUNDS
Meeting the Unique Objectives of Your Clients
Setting Up a Fund Using a Qualified Charitable Distribution from an IRA
One of the easiest ways to give is through a Qualified Charitable Distribution (QCD) from an IRA. Normally, taxpayers must begin taking annual withdrawals from their IRAs after reaching age 70½, based on the value of the account as of December 31 of the prior year. (IRA owners who turn age 70½ in 2020, however, don’t have to begin taking required minimum distributions until after they reach age 72). When your client gives using a QCD, if they are required to take minimum distributions, the money they direct to the Community Foundation will be excluded from their ordinary income for federal income tax purposes, and the amount will count towards their required minimum distribution (RMD) for the year!
Of course, under the CARES Act, required minimum distributions from IRAs and other qualified retirement accounts are suspended for 2020. Your clients who are already taking RMDs may get a break this year – however, they can still make QCDs of up to $100,000 annually from their accounts and 2020 is no exception, although their tax savings may be lower this year since the gifts will not take the place of their RMD. But, if they want to support charity, particularly if they don’t itemize on their income taxes, a QCD may still make sense this year. Learn more on our website!
And the best news? Your client could even use their QCD to set up a pass through designated fund to support their favorite charities today, and its easy to get started by completing this form on our website.
Donor Advised Fund
Donor advised funds can be set up very quickly and have tons of flexibility for your clients. If they are facing a tax situation, want flexibility on when and where to give, a donor advised fund is the perfect tool. They can set it up today and their fund can either be endowed for perpetuity, or pass through allowing them to grant the entire fund balance at any time.
Many people want to support organizations that have impacted their lives in major ways, or nonprofits they’ve volunteered with for years. For those who want to continue to support their church, alma mater, or favorite organizations in a simple and long-term way, the designated fund is the perfect solution. Your client makes one gift to endow the fund and we do the rest – sending an automatic grant to their list of favorite organizations every year, forever.
Scholarships are easily one of our most popular funds because they allow people to develop their own, unique criteria to benefit their high school, college, university or trade school. And they are endowed so their scholarship will benefit students for generations to come.
Community Impact Fund
The Community Impact Fund is the easiest way to support our community now, and in the future. This unrestricted fund is what the Foundation uses to support our community grantmaking and address regional needs and priorities. And right now, any gift made into this fund will be matched $2 for $1! So, if your clients makes a $1,000 contribution, the Lilly Endowment will match it with $2,000 – tripling their charitable investment!
Field of Interest Fund
Field of Interest Funds allow your client to support their favorite causes or issues while relying on the Community Foundation’s experienced staff to identify nonprofits that make the greatest impact on that issue. Whether their area of interest is the environment, education, health and human services, or something else entirely, we will identify area nonprofits doing the best work to address those issues and support them in their name.