Stories

These three factors are a big deal in gifts of S Corp stock to charity

S Corporation, or limited liability company? That's a question many family businesses grapple with in their formative stages. For years, S Corporations were frequently preferred for small businesses that wanted the protection of a corporate structure versus a...

What your charitable clients need to know now about tax reform

Late last month, the White House released a proposed $1.75 trillion revenue package, putting to rest (at least for now) some of the uncertainty as to how sweeping tax reform could upend wealth planning strategies via changes to top marginal rates, a...

When charity becomes a chore: private foundation alternatives

By Julie E. Firestone, PrincipalSingerman, Mills, Desberg & Kauntz Co., L.P.A. The Getty Foundation. The Bill and Melinda Gates Foundation. Private foundations formed by successful, entrepreneurial families, perhaps even initially operated by the...

Former Executive Director Jody Bacon passed away Nov. 8

We were saddened to learn of the recent passing of Jody Bacon, who played a significant part in the history of Akron Community Foundation as our previous — and first — executive director and president. Jody, who worked at the community foundation from...

David L. and Margaret Scott Yeager Fund

Like so many of us, Dave Yeager lost his mom to cancer. Now, he's working to ensure sons and daughters are no longer left motherless by the disease. As a young professional, Dave began more than 40 years of volunteer service with the American Cancer Society....

Charitable remainder trusts offer savvy planning opportunity

Imagine you sit down with your financial advisor to present an exciting opportunity. You believe a prime tract of land you bought for $200,000 just 10 years ago could now sell for $2 million due to the hot market for new residential development in the area....

Planned gift leaves lasting legacy for LGBTQ+ community

Bequest propels Gay Community Endowment Fund to $2 million In September, the Gay Community Endowment Fund received the second-largest gift in its 20-year history, helping to propel the fund to more than $2 million in charitable assets. The $60,912 bequest...

Proposed legislation: What's in it for giving?

The nonpartisan Joint Committee on Taxation's report issued last week is already creating a buzz among attorneys, accountants and financial advisors who provide charitable planning advice to their clients. Here are four considerations as you navigate...

GCEF presents 2021 scholarships

The Gay Community Endowment Fund recently awarded scholarships to four students who have positively impacted the LGBTQ+ community. In total, the GCEF Scholarship Fund awarded $8,000 this year to help local students achieve their higher education...

Private family foundation partnerships: Jean P. Wade Fund

When local entrepreneur and art connoisseur Rory O'Neil passed away unexpectedly in October 2020, his wife of 52 years, Dedee, was left with "a lot of loose ends" to tie up. One of those loose ends was the private family foundation Rory and Dedee had been...

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