By Scott Blaesing, CPA, CFP Principal Cascade Wealth Advisors Inc.
If you are age 70½ or older, IRS rules require you to take required minimum distributions (RMDs) each year from your tax-deferred retirement accounts. This additional taxable income may push you into a higher tax bracket and may also reduce your eligibility for certain tax credits and deductions. To eliminate or reduce the impact of RMD income, charitably inclined investors may want to consider making a qualified charitable distribution (QCD).
A QCD is a direct transfer of funds from an IRA custodian, payable to a qualified charity, as described in the QCD provision in the Internal Revenue Code. Amounts distributed as a QCD can be counted toward satisfying your RMD for the year, up to $100,000, and can also be excluded from your taxable income. This is not the case with a regular withdrawal from an IRA, even if you use the money to make a charitable contribution later.
If you take the RMD as income, instead of as a QCD, your RMD will count as taxable income. Having higher taxable income can directly impact your eligibility for certain deductions and credits. For example, your taxable income helps determine the amount of your Social Security benefits that are subject to taxes. Keeping your taxable income level lower may also help reduce your potential exposure to higher ordinary and capital gains income tax brackets, net investment income tax and Medicare surtax.
In my semi-annual tax and financial planning meetings with clients, I frequently hear that a priority is to decrease their annual tax burden. The reality is that their fixed sources of income from Social Security, pensions, investments and IRA distributions require them to recognize more income than they need to cover retirement living expenses. It’s great to be in this position, but tax inefficient and you lose control over where and how your assets are being used. READ MORE…
5th Graders at Lincoln Elementary in Wenatchee will get to explore the winter wonderland of YMCA Camp at Lake Wenatchee for 3 days and 2 nights where they will snowshoe, build snow caves, make their own snow cones, star-gaze, and so much more.
The Community Foundation of NCW has awarded $70,000 from its Stronger Schools Grant to 15 public schools across North Central Washington.
Stronger Schools provides up to $5,000 to PreK-12th grade public schools and school districts for programs that enrich experiences for students, support teacher development, and foster opportunities for schools to achieve their goals.
“The Stronger Schools Grant is a great opportunity to fund innovative projects that bring added value to the classroom and the building” said Claire Oatey, director of community grants. “These programs are making school more fun, interesting, and helping to build well-rounded student experiences. We’re really proud of what our teachers are doing outside of the box to engage their students.”
STRONGER SCHOOLS GRANT AWARDS
- Cascade and Lee Elementary – $4,000 Disability Education Awareness Program to promote empathy and understanding
- Foothills Middle School – $5,000 Sixth Grade Camp at Tall Timber Ranch in Lake Wenatchee
- Grand Coulee Dam School District – $5,000 Natural Helper Reboot peer to peer program that gives students tools and methods to handle traumatic and life situations
- Icicle River Middle School – $5,000 Healthy Lifestyle Trail Improvement Project, building a new improved trail system near the school for student use
- Independent Learning Center (Methow Valley) – $5,000 Support for Mentorship Coordinator
- Lincoln Elementary School – $5,000 Winter STEAM Learning Adventure, a 3day/2night adventure at the YMCA camp at Lake Wenatchee for 5th graders
- Manson High School – $4,450 Drone Club Job Training and Community Services, enabling students to apply drone technology to local professions
- Manson School District – $5,000 Bilingual Summer School, supporting reading and math enrichment during the summer for English learners
- Methow Valley Elementary School – $5,000 Purchase of cellos and violins to provide no-cost participation for the student
- Methow Valley High School – $5,000 Orchestral bells for music program
- Pateros School District – $5,000 Leader in Me, a student empowerment and leadership program
- Peshastin-Dryden Elementary School – $3,500 Art classes for K-2nd graders in partnership with the Wenatchee Arts Education Consortium
- Tonasket Elementary School – $3,500 Swim lessons for all 4th and 5th grade students
- Virginia Grainger Elementary School – $4,700 World Music and Rhythms program teaching students about various world cultures through music and dance
- Wenatchee School District – $4,850 Don’t Wait to Unmake a Bully, a student-run film production, education and training program
Funding for the Stronger Schools Grant comes from unrestricted funds at the foundation and individual donations.
Deadline – August 1, 2019
The Community Foundation of NCW is now accepting applications for its Regional Impact Grant (RIG), the foundation’s largest funding opportunity open to 501(c)3 nonprofit organizations in Chelan, Douglas, and Okanogan Counties (excluding the Methow Valley).
The RIG is an annual, competitive grant that provides funding for organizations making a significant impact in their community. There is no maximum funding request, however awards are not likely to exceed $10,000. Requests can be for specific projects or general operations.
Each applicant is visited by a team of Community Foundation staff and board members to learn more about their organization and request, and evaluate awards based on several factors that demonstrate their need and potential impact in the community.
The foundation typically receives around 60 applications for the RIG, but only 25 are awarded. Recipients will receive a portion of their request, then participate in Give NCW, an online giving catalog that invites the public to donate and help organizations reach their full grant requests.
In 2018, the foundation awarded $240,000 in Regional Impact Grants to nonprofits, with an additional $203,000 in public donations through Give NCW.
Applicants must apply online, deadline is August 1, 2019. Give NCW starts Thanksgiving Day through December 31st. Grants are awarded in January 2020.
LEARN MORE AND APPLY
The Community Foundation of NCW is now offering Board 101: The Basics, a 90-minute presentation by foundation staff to help new and prospective board members better understand the roles and responsibilities expected in serving an organization as a volunteer board member.
Board 101 will be offered quarterly, with maximum capacity is 25. The first presentation will be on Thursday, May 30, from 5:30PM – 7:30PM.
Board 101 is intended for:
- Those who haven’t served on a board, but want to know what it’s about
- New board members who have never served
- Board members who have been serving but want to brush up on basics
Board 101 will cover topics including:
- General introduction to the nonprofit sector and key terms
- Board roles and responsibilities
- Reading financials – the basics!
- Introduction to fundraising
- Board Meeting Tips
- Next steps – how to join a board & more educational resources
Board 101 will be offered quarterly, with maximum capacity is 25.
Participation is free, but registration is required.
The Community Foundation of NCW has awarded $72,000 in grants to 24 nonprofits serving the Methow Valley through the Methow Valley Fund (MVF) grant program.
The Methow Valley Fund was established in 2006 to provide sustainable funding for a vibrant, healthy Methow Valley. MVF grants are awarded to nonprofit organizations supporting health and human services, education, arts and culture, the environment, social and public benefit projects.
This year, the MVF program guidelines were updated to better serve the grant-seeking nonprofits. Historically, the MVF awarded grants up to $5,000, but often awarded partial grants in an effort to serve as many needs as possible.
Now the MVF has two award categories – $2,000 and $5,000 – with no partial award options. The application process is now more commensurate with the award, with the smaller grant having a shorter, less-intensive application. Both grants still require a site visit with the Methow Valley Fund Advisors, a group of local residents who evaluate each application and determine the final grant awards.
“We surveyed the nonprofits across the valley to evaluate how the Methow Valley Fund grant process was meeting their needs” said Claire Oatey, director of community grants. “Their responses indicated that a smaller award option that required less time investment would be valuable. Now that we’ve been through the new process, it feels like a better fit for the nonprofits and hopefully results in more effective impact.”
The MVF grants are made possible by donations to the fund by the general public who care about the Methow Valley and want to see it thrive. Since its inception, the MVF has awarded over $1 million in grants to nonprofit programs serving the Methow Valley.
The MVF grants are open each year on December 1st and are due January 31st. To learn more, visit www.cfncw.org/methowvalleyfund.
2019 Methow Valley Fund Grant Awards
|Aero Methow Rescue Service
||Ambulance child restraint system
|Classroom in Bloom
||Greenhouse and Farm to School Expansion Project
|Confluence Gallery and Art Center
||Art in the Wild, summer arts enrichment camp
|Methow At Home
||Membership Grant Fund, financial aid for membership dues
||Methow Grown Farm and Ranch Guide, 2nd edition
|Methow Housing Trust
||Staff training and capacity-building
|Methow Valley Citizens Council
||Clean Air Project
|Methow Valley Family Home Center Assoc.
||Computer and printer upgrade
|Methow Valley Interpretive Center
||Expanded signage for the Methow Valley Native Garden
|Methow Watershed Foundation
||Pamphlet to educate residents about water supply and quality
|Methow Valley Riding Unlimited
||Training and certification
||Outreach for new Room One communications
|Shafer Historical Museum
||Modernizing admissions donations to accept debit/credit
||Friday Food Program, supplemental food over the weekend for Methow Valley students in need
|The Merc Playhouse
||Musical Theater Camp and Drama Camp for Summer 2019
||4th grade Free Skate Program and other youth programs
|Total MVF2K Grants
||Capacity-building and strategic planning
|Friends of the Twisp Pool
||Situation assessment and feasibility study
|Friends of the Winthrop Library
||Capacity-building and marketing for capital campaign
|Little Star Montessori School
||Programs/General Operating support
|Methow Arts Alliance
||Free arts education for Methow Valley School District
||General Operating support
||Methow Valley Trails Collaborative – 2019 Save A Trail-Riser Lake
|Okanogan County Search and Rescue Assoc.
||Technical Rope Rescue Training Class
|Total MVF5K Grants
Monday, April 29, 2019
9:00am – 4:00pm
Campbell’s Resort, Chelan WA
The Nonprofit Practices Institute (NPI), a partnership of the Community Foundation and the Icicle Fund, is hosting its 11th Annual NPI Summit on Monday, April 29, 2019 from 9:00am to 4:30pm at Campbell’s Resort in Chelan, Washington.
The NPI Summit is a day-long conference that provides high-quality, low-cost professional development and networking opportunities for nonprofit organizations serving North Central Washington. The event is open to nonprofit staff, board, volunteers, or anyone interested in nonprofit work.
This year’s keynote is Erica Barnhart, Senior Lecturer at the University of Washington’s Evans School of Public Policy and CEO of Claxon, a marketing consulting firm. The topic is “The Energetics of Language: how to use the power of words to drive change, inspire engagement, and lead a happier, healthier life.”
The rest of the summit includes a dozen presentations over three sessions that cover topics including grant writing, marketing and outreach, succession planning, diversity and inclusion, event planning, board/director relationships, and mindfulness.
“The summit is a great opportunity to learn best practices from experts in their fields” said Claire Oatey, director of community grants and summit programmer. “We’re excited about the diverse range of topics this year – there’s something for everyone.”
Online registration is required along with a $30 fee that includes lunch.
Improve your nonprofit’s leadership intelligence and effectiveness!
The Community Foundation of NCW is partnering with Colin Brine of BeClearly to offer NCW nonprofits with a unique experience in uncovering nonprofit organizations’ needs, struggles, and opportunities and discovering leadership intelligence through The Leadership Game.
The John Maxwell Team Leadership Game is a comprehensive, interactive game based on the teachings of John C. Maxwell. The game helps organizations improve their leadership intelligence and increase their effectiveness. The Leadership Game is a fun, yet challenging experience designed to help teams better understand core leadership principles and values. This experience will raise the leadership awareness of your team and introduce the timeless leadership principles that will bring about positive change through communication and connection.
The Community Foundation of NCW will host several dates and times for organizations to play The Leadership Game. Organizations must be 501c3 public charities in Chelan, Douglas, or Okanogan counties.
LEARN MORE AND SIGN UP
The Community Foundation of NCW is pleased to announce its Give NCW campaign has raised $203,254 for 25 nonprofits in Chelan, Douglas, and Okanogan counties.
Give NCW is a crowdfunding campaign starting Thanksgiving Day through December 31st that invites the public to support 25 nonprofits across North Central Washington. The selected organizations received a Regional Impact Grant from the foundation, but only for a portion of their request. Give NCW provided an opportunity for organizations to raise additional funds to reach their full request goal and build awareness about their program or project. Seven organizations were “Fully Funded” and met their full fundraising goals.
“We launched Give NCW five years ago as a way for people to learn about charitable programs that are impacting their community directly” said Beth Stipe, executive director. “It’s an easy way for people to give locally, in any amount, and be part of philanthropy in our region.”
There was an additional $3,000 awarded to nonprofits through Funday Monday – each time someone gave on a Monday, their name was entered to win up to $1,000 to use on Give NCW any way they chose. Several nonprofits benefitted from the extra funds and it provided incentive for people to give. Two Wenatchee businesses, Mela Coffee Roasting and Firehouse Pet Shop, also provided gift cards as incentive for people to donate.
“Giving should be a fun and rewarding experience.” said Stipe, “Each year we try to come up with new ways to engage people to give. Our goal is not just raising the dollars, but inspiring everyone to be a philanthropist – at any level.”
The total amount dispersed to the 25 nonprofits between Give NCW and the Regional Impact Grant is over $417,000.
The next Regional Impact Grant application opens June 1, 2019.
Give NCW Award Recipients
||Amount Awarded (RIG+Give NCW)
|Alatheia Riding Center
||Keep Them in the Saddle!
|Camp Fire NCW FULLY FUNDED
||Help Camp Fire NCW get children back outdoors!
|Cancer Care of NCW FULLY FUNDED
||Help “Our House” Get New Commercial Washers & Dryers
|Chapter 2 Chapter
||Every Child Wants to Read
|Chelan Valley Hope FULLY FUNDED
||Tender Loving Care (TLC) for Seniors Program
||A Powerful Voice for Children
|Chelan-Douglas Community Action Council
||Free English as a Second Language Classes at the Literacy Council
|City of Entiat
||Entiat Fire Station Park
||Bringing the sport of STEM to NCW Youth!
|Friends of the Wenatchee Public Library
||Wenatchee Public Library Capital Campaign
|Habitat for Humanity -Greater Wenatchee
||Building strength, stability and self-reliance through shelter.
|Hand in Hand Immigration Services FULLY FUNDED
||Okanagan Salish Guides Our School Forward
|NCW Economic Development District
||Fostering Inclusive Prosperity Across North Central Washington
|Okanogan County Child Development Association
||Upgrade our computer software to meet our needs!!
|Okanogan County Community Action Council
||Health Home Care Coordinator Support
|Pybus Market Charitable Foundation
||Pybus Market Community-Building Programs
|Small Miracles FULLY FUNDED
||Help Feed Hungry Kids
|Special Olympics Washington FULLY FUNDED
||Supporting Health and Wellness Opportunities for Local Athletes
|TeamNaturaleza FULLY FUNDED
||Uniting People and Nature: Reuniendo la Gente y la Naturaleza
|Upper Valley MEND
||Improving food bank client health with access to healthy produce
||FUEL for the FIGHT -Cancer Support in NCW
|Wenatchee Valley Dispute Resolution Center
||Changing Relationships Through Peaceful Conflict Resolution
|Wenatchee Valley Senior Activity Center
|Wenatchee Valley YMCA
||Ment2B -Changing Lives Through Mentoring
The Community Foundation of NCW is now accepting applications for its scholarship program.
The foundation manages over 100 unique scholarships that support high school seniors, current college students, and non-traditional students from North Central Washington who are planning to attend four-year colleges and universities, community colleges, and trade schools.
Each scholarship has its own criteria and eligibility – most seek to support students who have served their communities, show growth and potential, and demonstrate significant financial need.
The application process is online and students can easily apply for multiple scholarships at once. The eligibility quiz feature helps students easily determine the scholarships that are right for them.
“We have scholarships for nearly every type of student,” said Julie Mott, the foundation’s scholarship program specialist.
“If you’re a student who has faced obstacles, or plan to study a specific area such as nursing or engineering, or have served your community or participated in extra-curricular activities – we most likely have a scholarship for you. Most of our scholarships support students who have a lot of potential and really need the extra financial support. We encourage every student who plans to attend college this fall to at least take the eligibility quiz and see if we have a scholarship that fits them.”
The deadline for most scholarships is March 1st.
LEARN MORE AND APPLY
As we begin the last month of the year, the Community Foundation wants to remind you of important dates to give in order to receive your tax-deduction for 2018. If you have a giving opportunity that isn’t listed below, please give us a call and we’d be happy to help!
- Gifts of Appreciated Stock must be received by 12/31/2018, please notify your broker as soon as possible. You can find transfer information here.
- Gifts from your IRA, including Required Minimum Distributions (RMDs) should also be initiated as soon as possible to meet the 12/31/2018 deadline. See transfer information here. Note: RMDs cannot be used to open or add to a Donor Advised Fund, but the Foundation can accept the gift and pass it on to nonprofits of our choice.
- Gifts by check sent via the US Postal Service to the Community Foundation must be postmarked by 12/31/2018. Checks sent via other carriers (eg: FedEx, UPS) must be in our office on or before 12/31/2018.
- Gifts by credit card online may be made by midnight 12/31/18 to receive a tax receipt for 2018 and will be sent via email to the address you provide. Click here to give online.
- Gifts from your Donor Advised Fund requested after 12/10/18 will be sent to the organization in January. Click here to login to your account.
Thank you so much for your continued investment in your community through the Community Foundation of NCW!