A GOOD FOUNDATION THE NEWSLETTER OF THE COMMUNITY FOUNDATION OF MIDDLE TENNESSEE
WINTER • 201 7 Tracy believes that reactive giving is largely based on obligation and history; the next largest category is the fun and social (who doesn’t want to have fun!?); the next is passion with the tiniest sliver of giving dedicated to strategic transformation. What Tracy believes is that you have to flip the philanthropic pyramid. Make the transformative, strategic giving the biggest amount so that you can truly make a difference and have an impact on your community. Make the smallest segment of your giving the things you feel compelled to do. And seek passion and fun in the middle tiers. Tracy believes that donors feel best when they can see the outcomes their gifts make rather than making gifts to what sometimes seems to be a big black hole.
INSIDE THIS ISSUE The Community Foundation of Rutherford County Disaster Response CFMT Around Town Staff Spotlight William and Clara Bryan Scholarship Fund NowPlayingNashville Turns 10! The Power of Nashville
And I think she’s on to something.
You don’t have to answer this, but…
What was the charitable gift you
Have you ever read your mail over the trash or recycling bin? Throwing away, among other things, solicitations from nonprofits you know well or have never heard of. I know I have. … I have learned over time that there are three types of giving. One is reactive: someone asks you to give and you do; another is a proactive: you care about a cause and want to make a difference so you find a nonprofit addressing that issue and you invest in their work; and most of us do the third type, some of both the first and second. A smart philanthropist, Tracy Gary, wrote a book called Inspired Philanthropy sharing a wonderful perspective on giving. She created four categories: • Honored Obligations – gifts to your church or school or a long-supported nonprofit • Social and Fun Giving – events like a gala or a performance
truly love to learn about them.
A Board member of The Community Foundation once observed that “the only good thing about turning 70.5 was the IRA Charitable Rollover.”
At The Community Foundation, we strive every day to help people feel good about the charitable gifts they ARE making – not bad about the ones they AREN’T making.
Congress introduced the IRA Charitable Rollover in 2006 as part of the Pension Protection Act (PPA). It was an effort to help reduce taxes and promote charitable giving, but never was permanent until 2016. The concept is straightforward:
made that made you smile and feel great? You don’t have to answer this, but if you would share your happiest moment as a donor at www.CFMT.org/stories, I would
Because if we aren’t feeling good about our gifts, will we continue to make them? We believe every gift matters. Thank you for yours.
• Passionate Giving – gifts that make you feel good
ELLEN LEHMAN
• Strategic Giving – gifts that can truly transform outcomes and create lasting change
President, The Community Foundation of Middle Tennessee
• Individuals with IRAs must take required minimum distributions (RMD) the year they turn 70.5, even if they don’t need the income. This income is taxable. • The Charitable Rollover allows IRA account holders to donate up to $100,000 of their RMDs directly to nonprofit organizations and avoid having this amount treated as income.
The Community Foundation of Middle Tennessee is here to help.
REACTIVE GIVING HONORED OBLIGATIONS
SOCIAL AND FUN GIVING
Since 2006, donors have turned to The Community Foundation to initiate the IRA Charitable Rollover. The process is quick and easy: • Have a conversation with The Community Foundation staff to determine which fund type can help you achieve your charitable goals. All fund types—except donor-advised funds—are options. • Contact your IRA administrator to request the donation of your RMD. Most firms require a few simple steps: 1.) The Community Foundation’s contact information and Federal Tax ID and 2.) a signature on necessary documents.
PASSIONATE GIVING
STRATEGIC OR TRANSFORMATIVE GIVING
INSPIRED GIVING *Inspired Philanthropy by Tracy Gary
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