Every day, people choose The Community Foundation to make an impact in our community. Because of their generosity, we are able to address the changing needs of Middle Tennessee, ensuring its future as a great place to call home. Your stories of giving make us who we are, and we hope that by telling them, we inspire others to realize their charitable dreams. We invite you to share a personal story of your own.
Boosted by a record number of participating area nonprofits, The Big Payback’s fifth-annual 24-hour online giving event on May 2 helped raise a record amount of funds for the organizations. In the Fifth Third Bank Big Reveal, the preliminary final amount totaling $3,189,121 came from 22,071 total gifts. The total includes funds raised and prize totals, but prize awarding is still in process.
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 was never permanent until 2016. The concept is straightforward:
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.
As a professional advisor, you frequently have an opportunity to help your clients achieve their philanthropic goals as effectively as possible. Charitable giving through The Community Foundation of Middle Tennessee, which offers specific tax benefits, gives you a unique resource to help your clients achieve other financial, personal or business goals.
Let us be your partner.