Listen for Opportunities
There are many situations in which a conversation about charitable giving can be beneficial to your client.
A client without children or descendants
If you have a client who do not have children or descendants, or does not want to provide in their estates for children or descendants, charitable giving is an important issue to address. If they do not know exactly which charity they want to support, or if they want to create a lasting legacy that will benefit the community in perpetuity, The Community Foundation is a great choice for them.
Sale of a business/other major assets
You may have a client ready to sell a business, which will create a large tax event. One effective way to avoid some of the tax liability is by donating a partial interest in the business to the Community Foundation. Your client may be eligible for a tax deduction, and when the Community Foundation sells the interest in the business, there is no income tax or capital gain tax on the proceeds. Amounts from the sale would then create an endowment fund to carry out your client's charitable wishes.
Closely-held family business interest
Some of your clients may have a closely-held family business. While they do not have a large amount of liquid assets, they may be charitably inclined and would like to leverage the value in their business to be philanthropic. The Community Foundation can work with you and your client to accept closely-held business interests. As the Community Foundation's shares in the business are liquidated, the donor will then have monies available to meet their charitable goals.
Loss of a loved one
The loss of a loved one often prompts people to do something charitable, but they may not know exactly what to do. The Community Foundation can quickly set up a fund to honor a loved one in a personal and meaningful way.
Client wants to start a charity
You have a client who comes to you to create a charity or private foundation. They are passionate about helping the less fortunate or finding a cure for an affliction. They also have a full time job and/or a family. The Community Foundation can help your client establish a donor advised fund or field of interest fund that will support the cause or charities your client would like to support without the hassles of running their own organization.
Desire to teach family members about philanthropy
Your client comes to you with the desire to make sure that their children and grandchildren understand philanthropy. We can help educate your client through our various publications and expert resources on family philanthropy and by working directly with you and your client to set up the best vehicle for their family.