Correction:  An earlier version of Planned Giving News cited an incorrect amount in the following article, "Help Your Clients Fulfill Their IRA Required Minimum Distribution with a Tax-Free Charitable Gift." Individuals age 70 � and older can transfer up to $100,000 per year from an IRA to charity without incurring taxes, not $1,000. Please note the correction in the issue below.
Steve Corley, a CPA for Eide Bailly LLP in Norman, Oklahoma, has served the Oklahoma City area for more than 35 years in public accounting. When he first learned how the Oklahoma City Community Foundation could help his clients with their charitable giving needs, he knew he had found a valuable partnership for his business.

As a public accountant, his background is in taxation, business consulting and financial and retirement planning for business owners and individuals with high net worth. While attending one of our continuing education classes to increase his expertise in these areas, Steve learned of the number of ways he could work together with the Oklahoma City Community Foundation to better serve his clients' charitable needs.

Since attending that class, Joe Carter, director of development and planned giving, and Kenneth Conklin, director of development, have continued to work with Mr. Corley to help his clients with their charitable giving needs. When a situation surfaces that involves charitable giving or estate plans, he never doubts that the response he receives from the Community Foundation is reliable and helpful.

"I helped one client that could not have been happier to capitalize on the donor advised funds offered at the Oklahoma City Community Foundation," said Mr. Corley. "It proved to be the perfect means to accomplish his charitable goals.

"The Foundation is a first-class organization, and the people I have met or worked with have always been responsive and attentive in every situation - even when they are not the right 'fit' for the client's goals. I know quite a few advisors who use the Community Foundation, including others in my firm, and I know I can always rely on accurate advice and assistance provided."

Donor advised funds allow your clients to make a charitable gift and receive an immediate tax benefit, then recommend grants from the fund to support a number of charitable causes over time. The Oklahoma City Community Foundation offers three types of advised funds to meet your clients' needs. Learn about the types of funds we offer here, and contact Joe Carter at 405/606-2914 to learn how we can help you serve the needs of your charitable-minded clients. 
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The first baby boomers are turning 70 this year. That means they soon will have to take a required minimum distribution (RMD) from their traditional IRAs and 401(k) plans or face up to 50 percent in taxes on the amount that wasn't taken as required. Instead of taking the RMD from their IRA, your clients age 70 � or older can make a tax-free gift up to $100,000 per year directly from their IRA to charity and avoid any penalties for not taking the RMD. Read more about the strategies that financial advisors are recommending to their clients to help them fulfill their required minimum distribution. Learn how the Oklahoma City Community Foundation can help your clients with an IRA Charitable Rollover gift here.


Donating retirement assets can produce very different tax consequences depending upon the timing and circumstances of the donor. It is especially important for advisors and fundraisers to have some familiarity with the tax rules associated with these gifts. Read more about the complexities and potential tax benefits of donating retirement assets. Learn how the Oklahoma City Community Foundation can work with your clients to accept a variety of charitable gifts including retirement assets here.  


Upcoming Events
 
Estate Planning 1.5
Do you want to increase your knowledge and skills in your profession and better serve your clients? Do you want insight that will benefit your clients immediately? This series of luncheons helps you make it happen. 
Professional advisors learning about trust assets at the July 26 Estate Planning 1.5 teleconference. 

11:30 a.m. - 1:15 p.m.
CE: 1.5 hours

Aug. 23 
Asset Protection Planning Without Going Offshore 
REGISTRATION FULL

Sept. 27 
IRS Tools and Tactics to Collect an Unpaid Tax Liability

Oct. 18 
Directed and Delegated Trusts

Nov. 15 
The Ongoing March of Breach of Duty Claims and How to Protect Against Them

Dec. 6 
Estate Planning for an Aging Population

Registration for each event will open online following the prior month's teleconference. 

Contact:
Joe Carter
Director, Donor Development and Planned Giving
[email protected]
405/606-2914