Professional Advisors

Information for Professional Advisors

Should your clients give through Scott Community Foundation?

Estate and Financial advisors can consider these three reasons.

We help people connect to the causes they care about most. When your clients give through Scott Community Foundation, they…

Receive Personalized Service. We work closely with you and your clients to develop a giving approach that matches their personal interest and tax planning needs. We can help integrate charitable giving within estate and financial plans, establish Donor Advised Funds named for your clients, facilitate anonymous giving, and assist with even the most complex gift instruments.

Gain Local Expertise. Our professional program staff monitors all areas of community need – including human services, education, healthcare, recreation, the arts, and economic development. We can help your clients learn more about local agencies and programs that make a difference in the areas they care about most.

Support Community Leadership.

We invest in the long term and bring people and organizations together, convening diverse voices to address local issues and opportunities. Our business is building community.

Here are Ways that We Can Help.

Community Foundations can support you and your clients at every step in the charitable giving process. We can help you:

  • Identify your clients’ charitable giving interests and motivations

  • Match personal charitable interests with tax planning needs

  • Create and implement charitable plans that are integrated into major business, personal and financial decisions

  • Facilitate complex forms of giving and execute technical giving instruments (such as charitable remainder trusts)

  • Provide information on community needs – and on the local agencies and programs that make a difference in the areas your clients care about most

  • Deliver grant making expertise and a range of administrative services related to charitable giving

How Can I Recommend Charity Without Recommending a Charity?

Talk to your clients about giving through Scott Community Foundation.

It’s a Delicate Dilemma. Estate planners, financial planners, and other professional advisors are often faced with a delicate dilemma: You want to discuss the many benefits of charitable giving with your clients, but you want to avoid recommending specific charitable cases or organizations.

Fortunately, There’s a Simple Solution. It’s Scott Community Foundation. Scott Community Foundation is a single, trusted vehicle your clients can use to address the issues they care about most, while gaining maximum tax benefit under state and federal law. We offer a variety of giving options – including the ability to set up a charitable fund in your client’s name. It’s just one way we can help you help your clients achieve their charitable goals.

Philanthropy is a very personal decision.

A professional advisor can help clients realize their charitable objectives by listening for charitable giving opportunities, explaining options, and suggesting solutions. Significant giving opportunities often arise when clients are making major business, personal, and financial decisions. Our staff can work with you and your client to recommend the best charitable solution. Following are some typical scenarios:

Year-End Tax Planning. Your client just earned a large bonus and wants to give a portion back to the community, but has no time to decide on the most deserving charities. Recommend establishing a Donor Advised Fund through Scott Community Foundation for an immediate tax deduction, and the ability to stay involved in recommending uses for the gift for years to come.

Preserving an Estate. Estate planning identifies significant taxes going to the IRS, but your client wants to direct dollars for local benefit. Scott Community Foundation can work with you and your client to reduce his/her taxable estate through a charitable bequest or other planned gift. Your client’s gift will create a legacy of caring in the community that stays true to his/her charitable intent forever.

Retiring in Comfort. Your client is concerned about running out of money during his/her lifetime, but has always been charitable. Recommend establishing a life income gift (such as a charitable remainder trust) at Scott Community Foundation that pays income potentially for life. Upon your client’s death, the gift can be distributed by Scott Community Foundation in accordance with his/her charitable interests.

Establishing a Private Foundation. Your client is thinking about establishing a private foundation, but is looking for a simpler, more cost-effective alternative. Scott Community Foundation can help you and your client analyze the pros and cons of creating a Donor Advised Fund, a supporting organization or a private foundation.

Closely Held Stock. Your Client’s personal net worth is primarily tied up in a closely held company, but it’s important for him/her to give back to the community. Recommend establishing a Donor Advised Fund or planned gift; your client is eligible for a tax deduction measured by the fair market value of appreciated stock (less any planned gift value).

Sale or Disposition of Highly Appreciated Stock. Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the identified charities are too small to accept direct stock gifts. Suggest establishing a fund at Scott Community Foundation with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from sale of the stock. Your client can even be involved in recommending uses for the gift, including the organization and programs he/she cares about most.

Sale of a business. Your client owns highly appreciated stock in a company that is about to be acquired. Scott Community Foundation can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.

Strategic Giving. Your client is passionate about helping meet a specific community need and wants to make a meaningful gift. You and your client can work with our grantmaking experts to understand community needs and programs and the direct gift dollars to make the greatest impact.

Substantial IRA/401(k) assets. Your client wants to leave his/her estate to community and family, and has substantial assets in retirement accounts. Scott Community Foundation can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to his/her heirs and preserving charitable intent.

Is Giving Through Scott Community Foundation Right for Your Clients?

  1. Do I have clients who care deeply about their local community?

  2. Do they give to more than one charitable cause?

  3. Are they interested in creating a personal or family legacy in their community?

  4. Are they considering the creation of a private foundation, but concerned about cost and administrative complexity?

  5. Would they like to stay personally involved in the use of their gift dollars?

  6. Do they want to receive maximum tax benefit for their charitable contributions under federal law?

  7. Do they place a priority on sound financial management of their contributions?

  8. If you answered yes to any of these questions, your clients would benefit from knowing more about Scott Community Foundation. We’d be happy to help you make an introduction.

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