FOUNDATION NEWS

A Message From our President & CEO

The holidays inspire hope because of what they mean to us, our family, friends, and community. It’s also a time when many of us reflect on our blessings. 

That’s why, as this year comes to an end, I’m taking this opportunity to express my heartfelt gratitude to not only our staff and our volunteer board, but to all of you for making 2022 so special. Together, we have been there to care for our community in so many ways, creating brighter futures for all in Anne Arundel County.

On behalf of our entire team at CFAAC, may your holidays be filled with warmth and joy and the new year filled with promise.

Happy holidays,

Mary Spencer
President & CEO

End of Year Giving Deadlines and Reminders

On behalf of the Community Foundation of Anne Arundel County and the nonprofits you support, we appreciate your generosity and support of our community in 2022. CFAAC works to ensure that your donations make the greatest impact on the causes you care about while maximizing your tax-saving benefits. 

With that in mind, and so we can provide the best service and ensure your charitable gifts qualify for a 2022 IRS tax deduction, please keep the following dates in mind:  

• We recommend that gifts of appreciated stock be initiated by December 16, 2022, before the December 30, 2022 transfer deadline, to allow enough time for transfer completion, should any unexpected delay occur. Note: Please notify CFAAC of the approximate number of shares and name of the company in advance. Shares received to CFAAC's ownership prior to the close of business on December 30, 2022, even if not sold until 2023, can be claimed as a tax deduction for 2022. The stock market is closed on Monday, December 26, 2022. Click here to read more about the benefits of donating stock.

• We recommend ACH or wire transfers be initiated by December 22, 2022. Please email Kathy@cfaac.org if you need transfer information.

• Please note that credit card donations must be completed via our website by 11:59 pm on December 31, 2022.

• Please note that checks must be postmarked by December 31, 2022. Cash donations must also be completed by that date. 

Opening New funds: New funds may be opened immediately (during business hours) upon receipt of both a fully executed fund agreement and a cash or non-cash donation. Email Rosemary@cfaac.org for more information about setting up a fund.

CFAAC Fund Holder grant requests: Due to high-volume of generous giving, if you are planning to make a grant from your fund to be sent to a nonprofit by the end of the year, please make the grant request by December 9, 2022 to ensure processing by year-end. Fund holders can submit the request via your account at this link, or by sending an email to Rosalind@cfaac.org.

Our offices will be closed for the holidays on the following dates:

• December 23rd - 26th

• January 2nd

• Please also note that on the last business day of the year, December 30th our offices will close at 3:00 pm.

Wishing you a wonderful holiday season!

MAKING A DIFFERENCE

Community Leadership Circle Annual Campaign

With your support, we have done amazing things together—including ensuring that families have basic necessities, strengthening nonprofits through grants, and making sure the community is well-informed through CFAAC programs. With your help, we can continue to aid those nonprofits who, in turn, serve our most vulnerable. We can continue to ask questions, seek other perspectives, cultivate relationships, and create opportunities for our donors to help meet the needs of our community. And, together, we can continue to make decisions that benefit and include everyone in our county, enhancing the quality of life for all Anne Arundel County citizens.

Your support matters and we are grateful to you for considering a gift. Make your gift securely online at www.cfaac.org or by calling 410.280.1102.

Ways to Give this Holiday Season

Cash; Check: Mail to: CFAAC, 900 Bestgate Road, Ste. 400, Annapolis, MD 21401; or Online to your fund, or to one CFAAC's leadership or grantmaking funds:

• CFAAC Leadership Circle
• Fund for Anne Arundel
• Grants 4 Teachers
• Strengthening Nonprofits Fund
• Community Crisis Response Fund
• Help Our Neighbors
• Arts and Culture Fund
• Women and Girls Fund
• Environment Anne Arundel

For other options on giving, visit cfaac.org/ways-give.html, call us at 443.280.1102, or email us at info@cfaac.org.

The philanthropic advisors at CFAAC are available to work with you, your family, and your professional advisors and answer your questions as you consider the best ways to structure your charitable giving. A consultation with CFAAC is always free, confidential, and with no obligation. 

Please see End of Year Giving Deadlines and Reminders in this newsletter.

CFAAC Welcomes New Funds

The Community Foundation of Anne Arundel County is happy to welcome the following to our family of funds:

• Betsy Brown Ruzzi Education Fund: The fund was created to honor the life and memory of Betsy Brown Ruzzi, who was active for 37 years in education policy. The fund honors her passionate commitment to education to support the causes she championed to continue their work.

• Trish Strott AAWGT Lifetime Membership Fund: An Endowed Fund established to support Anne Arundel Women Giving Together and its mission to support grantmaking activities that are devoted to improving the lives, health, education, and well-being of women, their children, and families.

MAKING A DIFFERENCE

Estate Planning - Women’s Edition: In Case You Missed It… 

Attorney Elsa W. Smith offered great advice to all who attended CFAAC's webinar, How to Go From Overwhelmed to Empowered Through Estate Planning. If you missed it, you can still view it below and learn about creating an estate plan that fits your needs.

You can also visit our website to see other estate planning webinars, cfaac.org/Legacy.

Important Early Childhood Survey for Anne Arundel County Families

The Early Childhood Coalition and their planning partners are surveying as many parents and other interested residents as they can to help improve early childhood education and care in Anne Arundel County and increase access to quality childcare for low income families.

They are interested in hearing as many voices as possible on this topic. Please take and share the survey below. 

Early Childhood Survey

We can’t thank you enough for helping us the philanthropists, volunteers, and professional advisors who have made a difference in Anne Arundel County through their exceptional generosity and philanthropic leadership. Please enjoy our thank you video below.

STRENGTHENING NONPROFITS

AAWGT Announces Early Preview for 2023 Grants
Anne Arundel Women Giving Together (AAWGT) is pleased to announce that in 2023 they will again be awarding grants that support their mission to improve the quality of life for women and families in Anne Arundel County. For the first time, this year AAWGT’s grant application is made available to nonprofits for early preview in PDF—click HERE. In addition, the entire grant process, from preview through application, is also available in Spanish—click HERE. AAWGT hopes that this early look at its application is helpful in planning and encourages nonprofits to start now to think creatively about the needs they see and the solutions they believe work best in improving the quality of life for women and families in our county.

On Wednesday, January 4, 2023, AAWGT’s online grant portal will open so nonprofits can begin the actual online application process. The deadline for submission of all applications is Friday, February 10, 2023, at 11:59 pm. Read more on our website.

Grant Applications are Open for Parole Rotary Foundation
The Parole Rotary Foundation, Inc. is accepting grant applications through January 27, 2023, for non-profit organizations serving Anne Arundel County. The pandemic has exacerbated many problems faced by the youth in our community. The Parole Rotary Foundation Grants Program seeks to address issues of food security and academic achievement by funding projects that serve the needs of children and families in the areas of education, health, and the arts. Grants of up to $3,000 will be awarded for service work, capacity building, and distribution of goods that directly benefit children.

To apply for a grant, visit the Grants page on parole-rotary.org to download the Parole Rotary Foundation 2023 Grant Application Guidelines. Read more on our website.

NEWS FOR PROFESSIONAL ADVISORS 

Join the Anne Arundel Estate Planning Council

The Anne Arundel Estate Planning Council (AAEPC) offers an annual membership. Benefits include:

• Listing in the Anne Arundel Estate Planning Council Member Directory to be made available online at www.aaestateplanning.org/members/directory

• Complimentary admission to all regular AAEPC programs

• Discounts to special AAEPC programs

• Invitations to members-only networking events

• NAEPC-brokered discounts and special pricing for marketing, media, software and subscriptions

• Peer learning network for willing members to share information and informal technical advice with their AAEPC member colleagues

In addition to memberships, AAEPC offers sponsorship opportunities for the Council and its programs.

AAEPC Membership & Sponsorship Details

Five of 2022’s Most-asked Questions About Qualified Charitable Distributions

Qualified Charitable Distributions (QCDs) are becoming a very popular financial and charitable planning tool. At the same time, QCDs are growing as the source of more and more confusion.

Check our our blog for the answers to the questions we’ve been asked most frequently this year by both advisors and donors.

Read More

Important Year-End Charitable Tax Planning Reminders 

Now is the time to share important reminders with your clients about year-end gifts. 

Gifts of appreciated stock still shine
Giving in a roller coaster market may continue to be a real concern for many of your philanthropic clients, but remind them, not all stocks are down. Gifts of appreciated stock to a Donor Advised Fund or other type of fund at the Community Foundation are still one of the most tax-savvy ways to support favorite charitable causes because capital gains tax can be avoided. And of course, a stock market rally can present timely opportunities.

Donor Advised Funds benefit both the donor and the donor’s favorite nonprofits
Grantmaking from Donor Advised Funds (DAFs) continues to rise, especially as donors and their advisors pay increasing attention to the ways a DAF can help with tax planning and, importantly, keep a donor’s giving levels consistent in lower income years. Reach out to the Community Foundation to learn more about how “bunching” at year end can maximize clients’ tax benefits, and at the same time ensure that nonprofits are supported as demands on their missions continue to grow in choppy economic waters.

Year-end giving deadlines are firm
Year-end can sneak up on all of us, and it’s important not to miss key deadlines for accomplishing your clients’ charitable goals. Please see End of Year Giving Deadlines and Reminders in this newsletter and reach out to CFAAC if you have questions.