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CARES ACT: TAX CHANGES

Expanded charitable contribution deductions For charitable contributions made in 2020, there is now available an unlimited charitable deduction for cash contributions to public charities, for taxpayers who itemize deductions (file Schedule A as part of their Form 1040). This means that for every dollar contributed, an income tax deduction will be allowed up to the [...]

By | April 8th, 2020|Cleveland, Funds, Giving, News, Tax benefits|Comments Off on CARES ACT: TAX CHANGES

Improve Your Impact Through Planned Giving

Planned giving is one of those things everyone thinks they know, but often do not. While there are several ways of defining planned giving using technical language, this simple description works in almost every situation: A planned gift is any gift that takes more than two minutes to make. Essentially, a planned gift is any [...]

By | March 2nd, 2020|Cleveland, Funds, Giving, News, Tax benefits|Comments Off on Improve Your Impact Through Planned Giving

The Secure Act and the QCD (qualified charitable distributions)

You can experience the joy of giving—by transferring some of your IRA funds directly to charity during your lifetime without first counting it as income and paying federal income tax on it. The “Setting Every Community Up for Retirement Enhancement” Act, aka the SECURE Act, was signed into law on December 20, 2019. The SECURE [...]

By | February 19th, 2020|Funds, Giving, News, Tax benefits|Comments Off on The Secure Act and the QCD (qualified charitable distributions)

The End of the Year is Near!

Even in the midst of the holiday rush, there’s still time to think about your 2019 tax strategy. Do you run the risk of paying taxes? Are you in need of tax deductions? The Community Foundation of Cleveland and Bradley County can help you navigate your charitable giving with some creative asset options. Your donations [...]

By | December 11th, 2019|Funds, Giving, Tax benefits|Comments Off on The End of the Year is Near!

There’s Strength in Numbers…Literally!

By Susan Poole Ever wonder why people choose to give through an endowment fund at a community foundation? It’s all about continuity. Endowments are permanent funds where the principal is invested, while a portion of the fund is distributed annually to charitable causes. Individual gifts are preserved in perpetuity with the funds pooled for maximum [...]

By | October 10th, 2019|Cleveland, Funds, Giving, Scholarship, Uncategorized|Comments Off on There’s Strength in Numbers…Literally!

Becoming a Family That Gives

At the Community Foundation, it’s our job to help folks in our community realize their potential to give and help them easily navigate the process. We often get questions from families who wish to make giving a part of their family’s life, but giving is very personal and we rarely share information about our individual motivations or finances [...]

By | February 25th, 2019|Cleveland, Funds, Giving, Scholarship, Uncategorized|Comments Off on Becoming a Family That Gives

How to Give Strategically

The Tax Cut & Jobs Act of 2018 (Tax Reform) almost doubles the size of the standard deduction from $6,350 to $12,000 for single taxpayers. For couples filing jointly the standard deduction increases from $12,700 to $24,000. This will reduce the number of taxpayers who will itemize their deductions—including charitable gifts. Tax reform may provide [...]

By | November 26th, 2018|Cleveland, Funds, Giving, Tax benefits|Comments Off on How to Give Strategically

Community Foundation Announces Two Recipients of the Ocoee Foundation Scholarship

Walker Valley’s, Brandon Akiona and Bradley’s Julia Sandryka have each been awarded the Ocoee Foundation Scholarship for 2018. The $8000 scholarship provides $2000 per academic year for a possible total of four years based on satisfactory progress toward a degree. Margaret Sheehan, Ocoee Foundation Board member, presented the scholarship to each student at their respective [...]

By | May 31st, 2018|Cleveland, Funds, Giving, Scholarship|Comments Off on Community Foundation Announces Two Recipients of the Ocoee Foundation Scholarship

Community Foundation Announces Recipient of the Ashlyn Lamberth Scholarship

Sydney and Anthony Anthony Lamberth presented the 2018 Ashlyn Taylor Lamberth Memorial Scholarship to Sydney Brown at Bradley High School’s Senior Awards Night held on May 14. The $1000 award recognizes Sydney’s academic achievement, school involvement and community service commitment. While at Bradley, Sydney has participated in FCA, Bachelorettes, Vocal Motion and Student Council. Additionally, [...]

By | May 31st, 2018|Funds, Giving, Scholarship|Comments Off on Community Foundation Announces Recipient of the Ashlyn Lamberth Scholarship

The Unity Center is a busy place!

The Unity Center Endowment Fund provides an ongoing stream of revenue to help ensure a strong future for the Unity Center as the organization continues its mission to build hope and opportunity by promoting educational, social and spiritual growth for all. Enrichment, community building, responsibility, life skills....add to that some fun, laughter and music and [...]

By | April 5th, 2018|Cleveland, Funds, Giving, News|Comments Off on The Unity Center is a busy place!