2025 Professional Seminar Booklet

2025 PROFESSIONAL SEMINAR

PL ANNING IDEAS FOR TRANSFERRING WEALTH AND RETIREMENT ASSETS featuring Robert “Bob” Kirkland MAY 13, 2025

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Glast Phillips Murray Zopolsky, P.C. is proud to sponsor the Communities Foundation of Texas 2025 Professional Seminar.

GPMZ offers a wealth of experience and expertise in estate planning, probate, trust and estate administration, fiduciary litigation, tax planning, and transfer tax reporting.

Our team of experienced estate and trust lawyers handle complex matters for wealthy clients. Our practice group is composed of skilled lawyers who routinely tackle complex tax and legal issues to achieve very favorable results for our clients. Our expertise and knowledge allow us to efficiently deliver quality services to clients at highly competitive rates.

Glast Phillips Murray Zopolsky 2

(972) 419-8300 14901 Quorum Drive, Suite 300, Dallas, Texas 75254

Holland & Knight is proud to sponsor the

Communities Foundation of Texas 2025 Professional Seminar.

We support CFT’s dedicated work to improve the lives of Texans by investing in their wealth, living and learning, as well as its commitment to work with caring donors, committed nonprofits, philanthropy-focused businesses and civic leaders to build communities that thrive for all.

www.hklaw.com Dallas, TX | +1.214.964.9500

Copyright © 2025 Holland & Knight LLP All Rights Reserved

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SEMINAR COMMITTEE James V. Roberts Glast, Phillips, Murray, Zopolsky (Chair) Edward Copley The Blum Firm

Dear Friends, On behalf of Communities Foundation of Texas, thank you for joining us for our 2025 Professional Seminar.

We are excited to welcome you as we gather to learn how we can best serve our clients, donors, and community. We’re thrilled to welcome speaker Robert Kirkland, shareholder of Sandberg Phoenix, as he covers a wide range of timely estate planning and charitable giving topics.

Ken Holden, CPA Holden & Parker

As always, we are grateful for the unwavering support of our sponsors:

Norm A. Lofgren Gray Reed

•

Glast, Phillips, Murray, Zopolsky, Presenting Sponsor

Jonathan March Armanino

•

Holland & Knight, Benefactor Sponsor

•

BFS Advisory Group; C3 Financial Partners; Carter Financial; Frost Bank; Heritage Auctions;

Rich Maus Maus and Associates Jonathan Meaney Carter Wealth

Meadows Collier; and Saville, Partner Sponsors •

AlTi Tiedemann Global; Armanino; Artemis Partners; Children’s Medical Center Foundation; Financial Planners Association; Gray Reed; High Ground Advisors; Lee Financial; Maus and Associates; and Moss Adams, Engagement Sponsors

Jana L. Simons Meadows Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.

Special thanks to our Professional Seminar Committee, chaired by James “Jim” Roberts of Glast, Phillips.

Murray, and Zopolsky. Our committee members have done an outstanding job of providing their guidance and time to ensure another exceptional program this year.

Carolyn A. Newham General Counsel and Corporate Secretary Communities Foundation of Texas

This year’s professional seminar is especially meaningful to us as we uplift our 2025 Vester Hughes Award recipient, David M. Rosenberg, for his service to our community and to CFT. We created the Vester Hughes Award in honor of the late Vester Hughes’ legacy, his longstanding commitment to charitable causes, and his long-time support of CFT.

Morgan Richards Director of Charitable Gift Planning Communities Foundation of Texas

Your role as a Trusted Advisor is increasingly more important. Our hope is that you consider CFT as a resource or an extension of your practice in service to your clients’ philanthropic needs and legacy of generosity.

We are honored to work with some of the best professional advisors in the industry to support our community’s charitably minded individuals, families, and businesses. For more than 70 years, we’ve worked side by side with estate and tax attorneys, CPAs, wealth advisors, and financial planners to help guide and execute donors’ charitable interests and plans.

These trusted partnerships with advisors and their clients have helped to grow community giving across North Texas and beyond. In 2024, we saw $178 million in gifts received and $158 million in grants distributed to nonprofits. CFT’s North Texas Giving Day also raised $71 million benefiting 3,200+ local nonprofits, bringing the sixteen-year total to over $635 million for our community.

Behind these numbers are countless caring individuals, many of which are guided by you, who are intentional about how they give back and champion the causes that matter to them. When we align toward shared goals and helping others, we are truly more impactful.

As your philanthropic partner, we are here to provide the charitable tools and resources needed to advance your client’s knowledge and make their gifting meaningful and effective, as well as to support and steward their legacies. We look forward to working side by side with you and your clients for years to come.

Sincerely yours,

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Wayne White President and CEO Communities Foundation of Texas

Congratulations,

DAV ID M . ROS ENB ERG of Holland & Knight LLP

Communities Foundation of Texas is thrilled to announce that David M. Rosenberg has been selected as CFT’s 2025 Vester Hughes Award honoree. David’s practice and expertise is focused on nonprofits, including federal, state, and local taxation, corporate governance, and sophisticated charitable giving techniques. He has vast experience in creating, modifying, maintaining, merging, and dissolving nonprofits of all shapes and sizes.

We applaud and appreciate all David has given to CFT and our community, and are so pleased to bestow this award on David.

“David Rosenberg embodies the best qualities of Vester Hughes, and we are excited to recognize him as our 2025 Vester Hughes Award Recipient. There is no greater seal of approval than something David has created or blessed for a nonprofit. He has dedicated his professional career to the charitable sector, and our region’s philanthropic community has truly been made better through his efforts.”

– Carolyn A. Newham, J.D., CFT General Counsel

Learn more about David’s impact F E D E R A L R E S Eand R V E watch B A N K OCFT’s F tribute video:

DALL A S AND CF T FOR BUSINESS

From left: Sejal Desai, Roy Lopez, Kymberlaine Banks, Jenna Dillenback, Alfreda Norman, Kiara Eubanks, Elizabeth Sobel-Blum

CF TEX AS .ORG/ VESTERHUGHES 5

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Advisory services provided by NewEdge Advisors, LLC doing business as BFS Advisory Group, LLC, as a registered investment adviser. Securities offered through NewEdge Securities, LLC, Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.

Across

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What We Offer:

Clarity Confidence Coordination We are advocates.

C3 was founded to help clients preserve family wealth, promote business success, and facilitate philanthropic giving by offering life insurance as a planning tool.

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www.c3fp.com Securities offered through Valmark Securities, Inc. member FINRA, SIPC. Investment advisory products and services offered through Valmark Advisers, Inc. an SEC Registered Investment Advisor. C3 Financial Partners is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc. 7

AGENDA 2025 PROFESSIONAL SEMINAR TUESDAY, MAY 13, 2025 7:15 a.m.

Doors Open Breakfast begins

8:00 a.m.

Welcome Wayne White, President and CEO Communities Foundation of Texas

8:05 a.m.

2025 Vester Hughes Award Carolyn A. Newham, J.D., General Counsel Communities Foundation of Texas

8:10 a.m.

Honoring David M. Rosenberg

8:20 a.m.

Introduction of Speaker Jim V. Roberts, Texas Board Certified Estate Planning Attorney Glast, Phillips, Murray, Zopolsky

8:25 a.m.

Robert “Bob” Kirkland Sandberg Phoenix

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9:05 a.m.

Break

9:20 a.m.

CAP® Opportunities Morgan Richards, Director of Charitable Gift Planning Communities Foundation of Texas

9:25 a.m.

Robert “Bob” Kirkland Sandberg Phoenix

10:25 a.m.

Closing Remarks and Adjourn Morgan Richards, Director of Charitable Gift Planning Communities Foundation of Texas

TA B L E O F C O N T E N T S Letter from President and CEO, Wayne White.......................................................................................................4 Agenda.........................................................................................................................................................................8 Table of Contents........................................................................................................................................................9 Robert “Bob” Kirkland Biography.........................................................................................................................12 Communities Foundation of Texas Helping You Help Your Clients..........................................................................................................................16 Overview.......................................................................................................................................................19-20 Private Foundation vs. Donor-Advised Fund..................................................................................................... 21 Converting a Private Foundation...................................................................................................................... 22 CFT Charitable Giving Experts.........................................................................................................................24 Board of Trustees............................................................................................................................................... 26 This presentation will allow attendees to: • • •

Define the “middle rich” and identify their major estate and retirement planning objectives.

Identify issues and planning ideas surrounding larger IRAs. Discuss and prep ways to structure IRA beneficiaries when trusts are involved.

CE Credits: CFP/CPE/MCLE 2.0 hour credit

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Like Most Texans,

Carter Financial Management Strongly Values Independence.

As a financial planning and wealth management firm based in Dallas for nearly 50 years, we understand the pride that can only be earned by forging your own way, leading others down innovative paths, and taking calculated risks that allow you to achieve your dreams. Our firm is, and always has been, independent, never answering to a parent company or stockholders with agendas that contradict what is right for clients. Our 12 CERTIFIED FINANCIAL PLANNER™ practitioners remain proudly, fiercely independent, ensuring your needs come first. We sleep well at night, knowing we’ve worked hard to do the right thing for every client, every time.

In today’s financial environment of aggregation and consolidation, how independent is your financial advisor?

Let us show you what a legacy of independence can do for you.

12222 Merit Drive, Suite 1800 | Dallas, Texas 75251 | 214.363.4200 | carterwealth.com + Securities offered through Raymond James Financial Services. Inc. Member FINRA/SIPC. Investment advisory services offered through Carter Advisory Services, Inc. and Raymond James Financial Services Advisors, Inc. Carter Financial Management and Carter Advisory Services, Inc. are not registered broker/ dealers and are independent of Raymond James Financial Services. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. and Carter Advisory Services, Inc. Carter Financial Management and Carter Advisory Services, Inc. are not registered broker/dealers and are independent of James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRNSIPC. Certified Financial Planner Board of 10Raymond Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it10 authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

WE DO EVERYTHING. FROM INVESTMENT PLANNING T O T R U S T A D M I N I S T R AT I O N TO R E M E M B E R I N G YO U R N A M E .

A strong financial strategy takes everything into account — most notably, you. At Frost, we don’t just build your portfolio. We build a relationship that helps us discover your goals and craft a strategy that will help you achieve them.

Visit us at frostbank.com or call (800) 51-FROST

Investment management services and trust services are offered through Frost Wealth Advisors of Frost Bank. Investment and insurance products are not FDIC insured, are not bank guaranteed, and may lose value. Brokerage services offered through Frost Brokerage Services, Inc., Member FINRA/SIPC, and investment advisory services offered through Frost Investment Services, LLC, a registered investment adviser. Both companies are subsidiaries of Frost Bank. Additionally, insurance products are offered through Frost Insurance.

Deposit and loan products are offered through Frost Bank, Member FDIC.

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SPEAKER BIOGRAPHY

ROBERT “BOB” KIRKL AND

Sandberg Phoenix

Robert “Bob” Kirkland joined Sandberg Phoenix as a shareholder in 2025. He provides comprehensive legal counsel to individual clients, focusing on estate planning, tax strategies, and asset management. His practice includes drafting estate planning instruments and advising clients on estate and gift tax minimization, probate avoidance, gifting strategies, asset protection, charitable giving, and business succession planning. Bob also represents fiduciaries in estate, trust, and conservatorship administration matters.

Bob is a Fellow of the American College of Trust and Estate Counsel (ACTEC) and is a member of the Fiduciary Administration Committee and Long Range Planning Committee, Bob has held numerous leadership roles, including Missouri State Chair, member of the ACTEC Board of Regents, and the ACTEC Executive Committee. He serves on ACTEC’s Employee Benefits Committee (past Chair), and the ACTEC Foundation Board of Directors.Recognized by The Best Lawyers in America for over 20 years and Super Lawyers in its most recent editions, Bob is a certified mediator, having completed ACTEC’s Effective Probate Mediation Training. He frequently mediates trust and estate disputes.

In addition to his legal practice, Bob contributes to professional and civic organizations. He is Vice Chair of the Missouri Bar Probate and Trust Committee. As a founding Chancellor of the Heart of America ACTEC Fellows Institute, Bob supports the development of future estate planning professionals.

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A prolific author and sought-after speaker, Bob has presented at seminars and conferences nationwide, including those hosted by ACTEC, The Heckerling Institute, ALI-CLE, and the Missouri Bar, among others. His topics cover a wide range of estate planning and charitable giving issues, and he has addressed audiences at prestigious events like the Notre Dame Estate Planning Institute, the Southern Federal Tax Institute, and the UCLA Institute on Estate Planning.

T R U S T S & E S TAT E S

YOUR COLLECTION. YOUR LEGACY. Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. With locations all around the world and more than 50 different categories, Heritage has something for every collector.

Our Trusts & Estates team assists professional advisors with complimentary onsite estate consultations, sales proposals for auction, private sales, monetizing donations of tangible assets, and collection advisory services. As a separate entity, Heritage Auctions Appraisal Services, Inc. offers an experienced team of qualified appraisers who produce IRS and USPAP-compliant formal appraisal reports for a variety of purposes.

Michelle Castro Vice President, Trust & Estates 214.409.1824 | MichelleC@HA.com

DALLAS | NEW YORK | BEVERLY HILLS | CHICAGO | PALM BEACH LONDON | HONG KONG | MUNICH | TOKYO | PARIS | AMSTERDAM | BRUSSELS | GENEVA 83846

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As a trusted advisor, you have clients who look to you for counsel about their philanthropy.

Communities Foundation of Texas is here to help. By partnering with CFT, you can help your clients give effectively and easily. From a client who wants to make an immediate philanthropic impact, to the couple hoping to leave a legacy, or the family with a complicated tax situation, we have a team of philanthropic professionals to help you find the best solution.

BENEFITS OF WORKING WITH CFT SIMPLICIT Y

• Funds can be set up easily and quickly • CFT accommodates busy schedules to make it convenient for your clients

PRIVATE FOUNDATION ALTERNATIVE

• Choosing a donor-advised fund at CFT over a private foundation provides significant tax advantages and allows your client’s grantmaking activity to be confidential • There are no Form 990s to f ile, minimizing paperwork, administrative burden and costs

EXPERT PHIL ANTHROPIC GUIDANCE

• Let CFT be the philanthropic experts for your clients, vetting 3,000+ nonprofits annually • We can help clients—individuals, families, companies and foundations— • create a strategic giving plan, maximizing their impact on the community

COMPLEX ASSET GIFTS

• CFT provides the knowledge, expertise and due diligence to evaluate, receive, manage and invest complicated assets in the most caring, effective and tax-favorable manner • CFT can accept closely-held or restricted stock, business or partnership interests, art, real estate, mineral rights, insurance and others

LEGACY BUILDING AND HIGH LEVEL OF CUSTOMIZATION

• Not only can CFT work with you and your client to manage current charitable giving, but we can assist with designing and building their legacy through deferred charitable giving • Whether clients want children and grandchildren to be involved, or if CFT will play a larger role in carrying out your clients’ wishes, CFT has 65 years of partnering with individuals and families to carry out their goals

EXEMPL ARY SERVICE

• CFT has been a trusted partner in our community since 1953 • Our meeting space is offered to you and your clients as a neutral meeting place • CFT is a strong steward of dollars, managing more than $1.5 billion in assets and more than 1,300 funds • We have a highly qualified staff available to assist you at all times

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For more information please contact Carolyn A . Newham at 214.750.4146 or CNewham@CFTexas.org

AlTi Tiedemann Global is honored to support the

2025 Professional Seminar

by Communities Foundation of Texas We commend CFT for its dedication to strengthening the fabric of Texas communities. Through deep partnerships with donors, nonprofits, civic leaders, and mission-driven businesses, CFT is creating pathways for shared prosperity - strengthening communities where every Texan can thrive in wealth, wellness, and wisdom. alti-global.com

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Let Your Clients Focus on Their Purpose –

We’ll Handle the Rest Each of your clients are unique. Whether they’re an individual, business, startup, family, entertainer or athlete, our team of accountants, tax specialists, family office experts and business managers help handle your client’s daily tasks so they can focus on what they do best.

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Wealth Preservation

We work with you to protect your clients’ existing assets while enabling future growth.

Full-Service CPAs and Accounting

A Top 20 firm, we deliver comprehensive tax and business management services to support individuals, businesses and nonprofit organizations.

Lifestyle Management

We alleviate stress and allow your clients to focus on their family, business and purpose.

Please contact John.Karls@armanino.com or scan the QR code below for more information

OVERVIEW & 2024 FINANCIAL HIGHLIGHTS June 30, 2024 $1.6 billion $158 million $178 million 1,300+

CUMULATIVE GRANTS

$2.6 billion+

$1,614

$1,434

$1,174

$1,142

’15 ’16

$1,126

’14

$1,505

(in millions, unaudited)

$1,370

TOTA L A S S E T S

$1,099

Enhancing the experience and impact of giving through: 1. Exemplary service 2. Wise stewardship of resources 3. Trusted community knowledge

FISCAL YEAR ENDING Total Assets: Total Grants Paid: Total Gifts Received: Number of Funds:

$1,027

VALUES

FINANCIALS

$1,067

Since 1953, Communities Foundation of Texas has grown to become one of the nation’s largest community foundations.

Our strategic goals are to: grow community giving, advance community equity, and expand community impact. We represent our donors’ charitable interests and add value through our wealth of community knowledge, along with the leadership of our volunteer board of trustees and the expertise of a professional staff. CFT is committed to serving and understanding donor needs, expertly handling complex gifts, wisely managing charitable funds, and leveraging community knowledge. CFT serves as a hub for collaboration between philanthropists, nonprofits, and other funding organizations across the community.

$1,065

WHAT WE DO

’17

’18 ’19 ’20 ’21 ’22 ’23 ’24

TYPES OF FUNDS • Donor-advised funds allow donors to remain actively involved in the grantmaking process.

• Business-advised funds support companies’ philanthropic goals with a full spectrum of services, including grantmaking, due diligence, site visits, and community updates.

• Designated funds benefit a specific charitable organization.

• Community impact and field-of-interest funds trust CFT to use its discretion to award grants to local nonprofits meeting current, pressing community needs.

• S cholarship funds benefit students pursuing their academic dreams.

• Supporting organization funds are similar to donoradvised funds, but are legally separate tax-exempt entities from CFT, which offer more opportunities for donor involvement with grants and investments.

• Nonprofit funds allow nonprofits to benefit from CFT’s investment expertise.

COMPOSITION OF ASSETS F I S CAL YE AR 2 0 2 4

(in millions, unaudited)

Donor-Advised Funds

$ 538

W.W. Caruth, Jr. Fund

532

Discretionary Funds

187

Designated Funds

148

Nonprofit Agency Funds Other Supporting Organizations

71 46

Scholarship Funds

35

Trusts/Annuities

17

General Operating/Reserve Funds

40

T O TA L A S S E T S

$ 1 , 614

19

$158

$166

FI S C A L Y E A R 2024

5%

$137

$118

$106

$109

$106

$102

$101

$138

(in millions, unaudited)

$154

G R ANT S DIS TRIBUTION

G R A N T S PA I D

5% YOUTH & RECREATION

23%

ARTS & CULTURE

10%

EDUCATION

COMMUNITY IMPROVEMENT

10%

RELIGION

19%

14%

HEALTH & SCIENTIFIC RESEARCH

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’15 ’16 ’17

’18 ’19 ’20 ’21 ’22 ’23 ’24

14%

HOUSING & HUMAN SERVICES

REPRESENTATIVE GRANTS

KEY INITIATIVES

2025 Education and Workforce Innovation Grants Grant Totals: $7.5M+ CFT has awarded $7.5 million in grants to eight organizations supporting local education and workforce innovation, furthering efforts to help Texas students thrive in school, in a career, and in life.

CFT’s NORTH TEXAS GIVES Communities Foundation of Texas’ North Texas Gives is an expansion of the foundation’s largest annual community event, North Texas Giving Day. To support local nonprofits and grow community giving, 100% of donations made through NorthTexasGivingDay.org go directly to participating nonprofits, all year long. There are more than 25 cause areas across 20 North Texas counties represented to choose from to support.

Learn more at: CFTexas.org/Education2025 2024 Maternal Health Grants Grant Totals: $455,000 CFT has awarded $455,000 to 12 North Texas nonprofits through its 2024 Health Grant opportunity. CFT’s Health Grant opportunity drives holistic care for people throughout their pregnancies, connecting parents to quality healthcare during the perinatal period, which encompasses the time from when one becomes pregnant to after birth.

Learn more at: CFTexas.org/Health2024 Forest Forward Grant Grant Total: $5M Forest Forward is now fifty percent to its capital campaign goal with the announcement of a $5 million investment from Communities Foundation of Texas.

Forest Forward’s campaign to raise $75,215,000 is well underway to support the vision of igniting a just, healthy, and thriving South Dallas.

Learn more at: CFTexas.org/Forest-Forward

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OTHER

Through ongoing cause campaigns, matching fundraisers, group giving events, and nonprofit-led fundraising efforts, NorthTexasGivingDay.org is the one-stop-shop for supporting our local community.

EDUCATE TEXAS Educate Texas is an innovative alliance of public and private groups that share a common goal: improving the public education system so that every Texas student is prepared for success in school, in the workforce and in life. Launched in 2004 as the Texas High School Project, Educate Texas has made a positive impact on the lives of hundreds of thousands of low-income or underserved students in low-performing schools throughout Texas.

CENTER FOR BUSINESS IMPACT Since 2017, Communities Foundation of Texas (CFT) has worked with companies of all sizes to grow their impact in North Texas. The Center for Business Impact (formerly CFT for Business) is a one-stop shop for businesses looking to make the greatest positive impact on our region.

Comparison of

D ONOR-A DV ISED FUNDS and PRIVATE FOUNDATIONS POINTS TO CONSIDER

DONOR-ADVISED FUND at CFT

PRIVATE FOUNDATION

LEG AL IDENTIT Y

Component fund at Communities Foundation of Texas

Separate nonprofit entity

TA X S TATUS

Public charity

Private charity

DONOR INVOLVEMENT

Donor recommends investment allocation and grants to nonprofits, which are approved by CFT

Donor appoints board which controls investments and grantmaking; subject to IRS requirements

PRIVAC Y

Donor may be anonymous

Asset and grant information is public

MINIMUM CONTRIBUTION

$5,000

Typically, several million dollars

ANNUAL CHARITABLE PAYOUT

Not applicable; no artificial timeline

At least 5% of assets

IRS REP ORTING

CFT handles collectively

Annual IRS Form 990 filed with required reporting schedules

LIABILIT Y and RISK INSUR ANCE

Provided by CFT

Purchased by the foundation

FIDUCIARY RESP ONSIBILIT Y

CFT fulfills

Board fulfills

TA X DEDUC TIONS I N CO M E TA X D E D U C T I O N S for C A S H G I F T S

Up to 0% of adjusted gross income

Up to 30% of adjusted gross income

I N CO M E TA X D E D U C T I O N S for A P P R EC I AT E D S TO C K G I F T S

Fair market value up to 30% of adjusted gross income

Fair market value up to 20% of adjusted gross income

I N CO M E TA X D E D U C T I O N S for R E A L E S TAT E and C LO S E LY H E L D S TO C K G I F T S

Fair market value up to 30% of adjusted gross income

Cost basis up to 20% of adjusted gross income

ADMINIS TR ATION AND GR ANTM AKING G R A N TM A K I N G

CFT assists donor in identification and vetting of nonprofits

Establishes and supports a grantmaking and monitoring structure

A D M I N I S T R AT I O N

Services provided by CFT

Accounting, investments and IRS filings handled by foundation

TA X DEDUC TIONS S TA R T-U P CO S T

None

Varies with size and complexity

S E R V I C E and I N V E S TM E N T FE E S

Moderate

Varies with size and complexity

E XC I S E TA X E S

None

Subject to an excise tax of up to 2% net investment gain, including net capital gain and income

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CONVERTING TO AConverting PRIVATE aFOUNDATION Private Foundation Help make your giving easier and more enjoyable

Although private foundations are powerful giving vehicles, they can be costly and time consuming to maintain. Donor-advised funds are increasingly being used as an alternative to private foundations. They offer all the same benefits of charitable giving with easier ongoing management, improved tax deductions, increased grant flexibility, and anonymity at a lower cost than foundations.

Benefits of a donor-advised fund include

• Ease of giving: no separate tax returns, required payouts, required board meetings • Immediate tax deduction on contributions, and the flexibility to support charities over time • Ability to contribute certain assets beyond cash equivalents and publicly traded appreciated securities • Option to remain anonymous on grants • Opportunity for an advisor to actively manage charitable assets • A charitable partner to manage and steward your charitable legacy 5.Final Paperwork

3. New Fund Creation

1. Private Foundation Closure

When the asset transfer

You can establish a donor-advised

Your private foundation board must

fund by working with staff to complete

review its governing documents (and

a fund agreement and fund form to

applicable state laws) to determine

where it was created before it

advisors and advisory structure,

permissible and what is required.

foundation must make necessary filings in the state

name the fund, designate current

whether the desired dissolution is

is complete, your private

can be dissolved as well as with

recommend investment options and

the IRS, including final IRS

create a legacy plan.

Form 990-PF.

Private Foundation

1

2

3

4

5

DonorAdvised Fund

2. Remaining Obligations If your private foundation has any outstanding payments such as taxes, grants or fees, these must be paid before trasferring assets to a donor-advised fund. A reserve must be created for any additional anticipated expenses. Once assets are transferred to a donor-advised fund account, they can be only granted to public charities.

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4. Asset Transfer Because CFT is a public charity, transferring assets to the newly created fund is similar to making a grant from the private foundation. We can accept a variety of assets including: cash, stock, mutual funds, real estate, artwork, and other tangible personal property. You will need to work with CFT staff to determine the necessary due diligence for transferring illiquid assets.

For more information please contact donorrelations@cftexas.org

For more information please contact DonorRelations@CFTexas.org

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C CH HA AR R II TT A AB B LL E E G G II V V II N NG G E EX XP PE ER R TT S S C F T ’ S C H A R I TA B L E G I V I N G E X P E R T S P l a n n e d G i v i n g a n d D o n o r S e r v i c e s Te a m

Carolyn A. Newham, J.D. Carolyn A. Newham, General Counsel J.D. General Counsel

Hannah Huddleston Hannah SeniorHuddleston Officer SeniorEngagement Officer of Donor of Donor Engagement

Morgan Richards Morgan Richards Director of Director Charitable Gift of Planning Charitable Gift Planning

Calvert Collins-Bratton Calvert Collins-Bratton Chief Relationships Chief Officer Relationships Officer

Katie Kuehl Kuehl and SeniorKatie Scholarships Senior Scholarships and Nonprofit Funds Officer Nonprofit Funds Officer

Elizabeth Liser, CAP® Elizabeth CAP® SeniorLiser, Donor Senior Donor Engagement Specialist Engagement Specialist

Samantha Mitchell Samantha Mitchell Senior Donor Senior Donor Relations Officer Relations Officer

Jeri Chambers, CAP® Jeri Senior Chambers, CAP® Officer Senior Officer of Donor Relations of Donor Relations Collin County

Melissa Hardage Melissa Hardage Senior Director Senior Director of Donor Engagement of Donor Engagement

Collin County

Ashley Park Park DonorAshley Relations Officer Donor Relations Officer

Amanda Little Heather Lothes, CAP® Amanda Littleand Heather Lothes, Officer CAP® Donor Relations Donor Relations Donor Relations and Donor Relations Officer Collin County Prospect Research Officer Collin County Prospect Research Officer

Boski Sharma, CAP® BoskiDirector Sharma,of CAP® Director of Donor Relations Donor Relations

Michala Thomas Thomas DonorMichala Engagement Officer Donor Engagement Officer

C e n t e r f o r B u s i n e s s I m p a c t Te a m

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Nick Marino, Jr. Nick Marino, Jr. Center for Business Center for Business Impact Director Impact Director

Kymberlaine Banks Kymberlaine Banks Senior Business Senior Business Engagement Officer Engagement Officer

Elizabeth Corley Elizabeth CorleyOfficer Business Engagement Business Engagement Officer

Michelle Mai Michelle Maiof Senior Officer Senior Officer of Strategic Partnerships Strategic Partnerships

incredible. together.

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As North Texas faces enormous growth, Children’s HealthSM is transforming the pediatric landscape for kids today and for generations to come.

Members of our newly established Advisor Advocacy Alliance work together with Children’s Health to make life better for children across our region, expand philanthropic-based relationships and connect clients to philanthropic education to accelerate donation opportunities.

Be incredible. Join the Alliance.

Becoming a member is easy. To learn more or join the Alliance today, visit give.childrens.com/alliance or scan the QR code.

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BBOOAARRDD O EE E SS OFF TT R RU US S TT E

BOARD OF TRUSTEES

a ta tCC OO MMMMUUNNI TI TI E EX XA ASS I ESS FFOOUUN ND DAATTIIO ON N oo ff TT E

CFT’s funds andand underlying assets areare governed bybyananindependent of respected respected CFT’s funds underlying assets governed independentboard boardof oftrustees, trustees, composed composed of community leaders from diverse backgrounds.

They to community leaders from diverse backgrounds.

Theyare areselected selectedfor fortheir theirknowledge knowledge of of and and commitment commitment to community needs andand forfor their professional expertise. interests community needs their professional expertise.The Thetrustees’ trustees’charge chargeisisto tounderstand understand donors’ interests andand the the roles of nonprofits, acting as as stewards ofof more compensation roles of nonprofits, acting stewards morethan than1,300 1,300funds. funds.Trustees Trusteesserve serve without without compensation andand exercise thethe final authority with regard toto allall CFT exercise final authority with regard CFTinvestments investmentsand andcharitable charitablegrants. grants.

Connie O’Neill Connie BlassBlass O’Neill Chair Chair Civic Leader Civic Leader

Rakesh Dahiya Rakesh Dahiya Officer Chief Investment Methodist University ChiefSouthern Investment Officer Southern Methodist University

Jill Louis Managing Jill Louis Partner Perkins Coie Law Firm Managing Partner Dallas Office Perkins Coie Law Firm Dallas Office

Matrice Ellis-Kirk Matrice Ellis-Kirk Vice Chair Vice Chair Founder and CEO Founder and CEO Ellis Kirk Group Ellis Kirk Group

Arcilia Acosta Arcilia Acosta President and CEO President and CEO CARCON Industries and CARCON Industries and Construction Construction

PeterBrodsky Brodsky Peter Owner and Developer Owner and Developer

Michael Dardick José (Pepe) Guevara Michael Dardick José (Pepe) Guevara Executive Chairman Founding Managing Director Granite Properties Executive Chairman Millstone Assets Founding Managing Director

The Shops at RedBird The Shops at RedBird

St. Luke "Community" United St. Luke "Community" United Methodist Church Methodist Church

Gunjan Jain Gunjan Jain Owner Access Healthcare Owner

Sarah Losinger Sarah Civic Losinger Leader Civic Leader

Andy Smith Executive Director Andy Smith Texas Instruments Executive Director Foundation

Granite Properties

Millstone Assets

Services USA, LLC Access Healthcare Services USA, LLC

Tom Montgomery Managing Member Tom Montgomery Montgomery Capital Managing Member Advisers, LLC

Christopher Reynolds Executive Vice President Christopher Reynolds Toyota Motor North America Executive Vice President

Katie Robbins President & CEO Katie Robbins Hoblitzelle Foundation President & CEO

Toyota Motor North America

Hoblitzelle Foundation

Montgomery Capital Advisers, LLC

John Stephens Thear Suzuki Debra Brennan Tagg Retired SVP & CFO Global Client Service Partner President John Stephens Thear Debra Tagg AT&T Ernst &Suzuki Young, LLP BFSBrennan Advisory Group Retired SVP & CFO Global Client Service Partner President

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AT&T

Ernst & Young, LLP

BFS Advisory Group

Richie Richie Butler Butler Senior Pastor Senior Pastor

Rob Walters Senior Partner Rob Walters Gibson Dunn Senior Partner Gibson Dunn

Texas Instruments Foundation

YOUR LEGACY IS OUR LEGACY Gray Reed attorneys, many of whom are Board Certified in Estate Planning and Probate by the Texas Board of Legal Specialization, have advanced law degrees in taxation or are CPAs, provide experienced legal counsel on all matters related to trusts and estates including: • Tax-efficient estate planning, including charitable gift planning • Administration of trusts and estates • Litigation involving wills, trusts, charitable gifts, fiduciary misconduct and other inheritance disputes Our trusts and estates team works synergistically with the firm’s other attorneys in such areas as family law, tax, oil and gas, M&A, and real estate to make sure each client’s legal needs are met comprehensively.

After all, our clients aren’t just clients. They are part of the Gray Reed family. Your goals are our goals, your industry is our industry, and your legacy is our legacy.

DALLAS | HOUSTON | WACO | GRAYREED.COM DALLAS | Norm Lofgren nlofgren@grayreed.com

HOUSTON | Glen Eichelberger 27 geichelberger@grayreed.com

C E L E B R AT I N G 9 5 Y E A R S

CHAMPIONING YOUR SUCCESS At HighGround, we’re your biggest supporters.

For 95 years, we’ve protected and grown the assets of nonprofits and the donors who support them through expert investment management and gift planning solutions. Your mission inspires us, and we’re here to champion your success. Let’s make an impact together—call us today!

—

214.978.3300 | 800.747.5564 | www.highgroundadvisors.org

28 ith aa

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Helping to protect and preserve wealth through concierge insurance planning and holistic financial planning

5005 Lyndon B Johnson Freeway, Suite 1600 Dallas, TX 75244

Richard C. Maus, Financial Adviser for Eagle Strategies LLC. Eagle Strategies LLC is a New York Life Company Thomas M. “Matt” Davis, Financial Adviser for Eagle Strategies LLC. Eagle Strategies LLC is a New York Life Company Maus and Associates is not owned or operated by New York Life Insurance Company/Eagle Strategies LLC or its affiliates.

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10 ways we make

G IVING E A SIER

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S I M P L I F Y your Giving Your charitable giving does not have to be complex to be effective and tax advantageous.

Using a fund at CFT will allow you to support all of your favorite nonprofit organizations, and you will only have to track one gift receipt.

D E D I C A T E D Relationship Manager Imagine having your own personal concierge for charitable and legacy planning as well as curated educational opportunities.

E X P E R T I S E with Complex Assets Rely on our experts to manage the review, receipt and management of the full range of your complex assets.

A D V A N C E D Grantmaking Support Are you looking to make a larger impact? Our team will support you through large, multi-year, data-driven grantmaking and reporting.

E X P A N S I V E Community Knowledge With extensive community knowledge of the nonprofit landscape, we vet 5,000 grants per year and are happy to put our expertise to work for you.

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C U S T O M I Z E D Giving Plans Whether you want to cure cancer, regularly give to your house of worship or advance education at a chosen school, our expert staff can help you develop a custom plan to reach your charitable goals—no matter what they are.

E D U C A T I O N A L Opportunities

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You will be invited to learn more about our community and its current needs through our events, publications and our annual fund holder dinner. Plus, we’d be honored to host family meetings or values exercises for groups of your choosing.

C U S T O M I Z E D Legacy Planning Do you want someone to carry out your wishes beyond your lifetime? We specialize in deep customization for long-term legacy planning and have experience working with multiple generations, too.

G I V E W I S E L Y Series Our GiveWisely program empowers you to think critically about why and how you give.

R E P U T A T I O N for Excellence Since 1953, Texans have counted on us as their go-to charitable resource, trusting our wise stewardship, vast network, thoughtful counsel, and excellent service.