POSTED BY North Texas CF Staff | Mar, 19, 2018 |

By Cindy Hanes, Director of Philanthropic Services
North Texas Community Foundation

Significant giving opportunities often arise when charitably minded clients make major business, personal and financial decisions. While the North Texas Community Foundation does not practice law or offer tax advice, we can work with you to develop the best charitable solutions for your clients.

Following are some typical situations where a call to the Community Foundation would be of value. These are only a few examples.

  1. Your client has an overfunded retirement plan or substantial IRA/401(k) assets that have become an annual tax or estate planning issue. The Foundation can work with you and your client’s other advisors to provide information to help the client evaluate the most beneficial asset distribution to potentially minimize taxes, give more to heirs and preserve charitable intent.
  2. Your client owns closely held stock and wants to use it to make charitable gifts.
  3. Your client has highly appreciated stock and wishes to benefit multiple charities, or the charities he/she wishes to benefit are too small to accept direct stock gifts.
  4. Your client owns highly appreciated stock in a business that is about to be sold. The Foundation can work with you on ways to structure a charitable gift to help the client reduce capital gains taxes and maximize charitable impact.
  5. Your client wants help with strategic giving and can benefit from the advice of the Foundation’s grantmaking experts to have the greatest community impact.
  6. When your client says he/she wants to establish a private foundation, the Foundation’s alternatives may provide major economic advantages.
  7. Your client wants to establish a scholarship fund or a fund for some special purpose, but he/she needs help in how to set this up and maintain it.
  8. Your client has issues involving year-end tax planning, especially when a tax deduction is needed in one year, but charitable gifting will occur in another year.
  9. Assistance is needed to show how such methods as charitable life income gifts can enhance your client’s retirement plan.
  10. Help is needed in preserving an estate or reducing estate taxes.

To discuss your clients’ philanthropic needs, call Cindy Hanes, Director of Philanthropic Services at 817.877.0702 or email her at chanes@northtexascf.org. Visit our website for additional information and resources.

Cindy Hanes collaborates with members of our professional advisor network to facilitate philanthropic solutions for clients and philanthropists to positively impact our community.  As a CPA with a Masters in Tax from the University of Cincinnati, she is well-positioned to work with donors and their trusted attorneys, CPAs and wealth managers to craft long-term giving strategies as well as annual charitable giving plans. Cindy has 15+ years of experience in tax and consulting focused on endowments, foundations, universities, pension plans, and high net worth families. Cindy’s background allows her to understand the tax implications of simple gifts of cash as well as more complex non-cash gifts such as closely held stock, real estate, charitable remainder or lead trusts, etc. She is an active member of the Fort Worth Chapter of the Texas Society of CPAs, the Tarrant County Bar Association, the Lone Star Council of Charitable Gift Planners, Women Inspiring Philanthropy, and the Friends of KERA.

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TAGS : appreciated stock charitable life income gifts closely held stock community foundation end of year estate taxes IRA north texas private foundation sale of a business strategic giving tax deduction tax planning