July 1, 2023
Happy July! We’re now half-way through the year and we hope you will use these lazy days of summer to think through your charitable giving.
As we continue to hang out with fellow nonprofits via GiveGrundy, the Grundy County Interagency Council, and other stakeholder networks, we continue to hear our local social service agencies say that they are busier than ever. Residents continue to struggle with being able to access basic needs such as groceries, gasoline, utilities, and mental health services.
If you traditionally wait until December to give to your favorite charities, please consider giving now so that our local nonprofits can serve this uptick in need, which isn’t expected to lessen any time soon.
Grundy County has always had a strong support system of social services, which the public can experience first-hand at this year’s second GAP – Grundy Area Providers – on July 19th from 10 am to 2 pm at We Care of Grundy County on Bedford Road in Morris. All Grundy residents are invited to visit this expo to talk one-on-one with a wide variety of social service agencies to learn how to access their services – whether for yourself, family, or friends.
Now is also a good time to review which assets you’d like to give to charity. If you do it now you can avoid the December year-end rush!
Cash is always good, but it’s not always the most strategic. Even in this economy, not all stocks are down. Does it make sense to donate highly-appreciated stock now? Does your favorite charity accept gifts of stock? If not, you can design a fund at the Community Foundation of Grundy County to take that stock and make grants to many charities (donor advised fund) or one specific charity (designated fund).
And even though the corn is only “knee high by the 4th of July,” summer is a good time to remind farm families about how easy it is to donate grain to your favorite charities come harvest time.
Have you drawn your Required Minimum Distribution (RMD) for the year? If you are age 70-1/2 or older and don’t need your RMD for daily living, please consider making a gift straight from your IRA to charity to avoid paying income tax on the RMD.
Would you like to earn income while also supporting charity? The Community Foundation of Grundy County offers Charitable Gift Annuities. We can also help you and your attorney set up Charitable Remainder Trusts to benefit you now and charity later, or a Charitable Lead Trust to benefit charity now and you later.
Donor Advised Funds are a hot topic now – and we got ‘em! Our fees are competitive and our knowledge of local charitable needs and organizations is better than you’ll find at a commercial provider.
Going on a family vacation this summer? Please have a family chat about legacy and family giving. A donor advised fund is a perfect vehicle for engaging multiple generations around charitable giving, impact, and legacy.
There are many non-cash charitable strategies and tools out there. We have a short 7-minute video explaining them on our website at http://cfgrundycounty.com. We also have a monthly newsletter for professional advisors so they are prepared when you call them for assistance. If your professional advisor doesn’t yet receive this e-newsletter, they can read it online at https://cfgrundycounty.com/advisors/ or ask them to contact me to be added to the distribution list!
The Community Foundation of Grundy County bridges people who care with causes that matter to them. We have a wide variety of funds, tools, and services to help you and your professional advisors design a charitable giving plan to meet your needs – both emotionally and financially.
Summer is our quiet time, which is a perfect time to meet with us and learn more. We are located at 520 W. Illinois Avenue in the historic Coleman Hardware building in Morris. Our phone is 815-941-0852 and my email is [email protected].
Happy Summer, Give Grundy, and we look forward to serving you!