The Community Foundation of the Mahoning Valley is uniquely suited to support the charitable interests of your clients while enhancing your business relationships with them. Below are some of the prime advantages of working with a local community foundation and exploring the possible philanthropic solutions that we offer.
Advantages of Working with CFMV
Easy to establish
Your client won't need to change or continue updating their will or estate plans if they create a legacy agreement with CFMV.
Cost effective
There is no fee to establish a fund, and our simple fund agreements can be tailored to each client’s needs and unique wishes.
Tax benefits
Donations to the Community Foundation offer the most favorable tax benefits allowed by law. Currently, cash gifts are deductible up to 60% of adjusted gross income (AGI), while contributions of appreciated assets like stock, mutual funds and real estate are deductible up to 30% of AGI.
Family legacy
Clients can build a legacy that lasts while contributing to the well-being of our community in perpetuity.
Maximize tax deductions
Donors may be able to bunch gifts that they would normally make over the course of several years to maximize tax deductions in one year.
Satisfy required minimum distributions
Contributions can often be made to a community foundation fund (excluding donor advised funds) to satisfy required minimum distributions from retirement accounts.
Alternative to a private foundation
Click to see a comparison between opening a Donor Advised Fund at the Community Foundation and establishing a standalone Private Foundation.
Well managed funds and locally anchored assets
The Foundation partners with multiple bank and trust companies that have a local presence to manage our donors' funds. Donors also have the option of requesting engagement of their current investment managers through guidelines set forth in our Individually Managed Funds Policy.
Distribution and administrative support
With support from Foundation staff, your client can make a substantial charitable impact without the challenge of reviewing and assessing individual requests for funding.
Consider these key times in your clients’ lives to talk with them about the Community Foundation and the philanthropic services we can provide.
When they want to leave a legacy for themselves and/or their family
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When they are planning for retirement or have substantial assets from a retirement account such as an IRA or 401(k)
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When they are selling a business
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When they are looking for an alternative to a private foundation and the costs and work associated with establishing a private foundation
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When they want to provide perpetual support to a particular charity or field of charitable work