Newsletters

Community Philanthropy Update - January 2024

Thursday, January 18, 2024 - 1:43 pm

Natalie Ross

Greetings Friend,

The Council’s Community Foundation Advisory Group represents community foundations across the country and plays a crucial role in advising the Council’s programs, initiatives, and events that serve our field. As the current Co-Chairs of the advisory group and leaders of community foundations, we’re excited to give an update on the direction of the group and what you can expect in 2024.

Last year, we reignited the group after a period of dormancy and dove into issues that our community is grappling with in different ways, including policy developments on the Hill, donor-advised funds, and disaster and crisis response. Many of you joined the Leading Locally conference in June 2023, which was informed by our conversations on placed-based leadership and community philanthropy.

This year, we’re examining strategies for building common ground and bridging divides, the public policy landscape including updates to potential DAF regulations, and other topics and trends that are impacting you. The Council’s upcoming Building Together 2024 event and recent amicus brief supporting our collective right to fund causes that align with our values are just a couple examples of this work.

Now, we’re expanding the advisory group to 20 individuals and you are invited to apply! If you’re an executive, C-Suite, or Vice President-level at a community foundation, submit your application by February 1 and reach out to one of us for any questions or to share what’s top of mind for you this year.

We’re eager to continue shaping the Council’s approach to serving community foundations while also seeking concrete ways we can collaborate on shared resources for our field. We’ll keep you updated throughout the year and look forward to celebrating the new members of the advisory group soon.

Best,

Your Community Foundation Advisory Group Co-Chairs

Kristi Knous
President
Community Foundation of
Greater Des Moines

Heather Peeler
President and Chief Executive Officer
ACT for Alexandria

Upcoming Events

Public Policy Action Network - Q1 2024 Meeting

January 29 | Virtual | Peer Discussion

How Philanthropy Is Investing in Belonging, Bridging, and Building Common Ground

February 6 | Virtual | Webinar

Foundations on the Hill

February 25-28 | In-person, Washington, D.C. | Conference

Virtual Meet-Up: Community Foundation Donor Services

February 28 | Virtual | Peer Discussion

Legal Matters for Community Foundations

March 6-7 | Virtual | Training

Global Grantmaking Essentials

April 10-11, 16 | Virtual | Training

Building Together 2024

May 6-9 | In-person, Chicago | Sector Event

New Member Spotlight

Welcome to the community foundations that have joined as new Council members since our last newsletter! We're excited to have Community Foundation of Greater Clemson, Community Foundation of Middle Tennessee, Community Foundation of South Jersey, Door County Community Foundation, Madison Community Foundation, Oregon Community Foundation, and Papillion Community Foundation as new members.

Community Foundation of Middle Tennessee

Resources You Can Use

Legal Question of the Month with Ben McDearmon, Director of Legal Resources

Question: We’ve recently had two donors initiate stock / mutual fund gifts in 2023, only to see the securities hit our account in 2024. With physical checks, we go by the date of the postmark, even if we receive the gift the next year. Is there any kind of similar rule with securities?

Ben-McDearmon-circle-newsletter Answer: Questions involving the effective date of gifts of securities can get complicated because it will largely depend on which of the various methods of transfer a donor uses to make the gift. In most cases, the effective date of the gift is when it is delivered to the foundation, regardless of when the donor initiated the transfer. However, in certain circumstances the donor may claim an earlier date if they can prove they irrevocably parted with ownership as of that date. For example, when using the U.S. Postal Service to mail stock certificates to a charity, the gift is considered effective on the date the donor mails it, since the donor has no ability to retrieve items once they are placed in the mail (note that this rule doesn’t apply to delivery through FedEx, UPS, or similar companies because they do not have the same legal obligations the USPS does to ensure delivery to the addressee—gifts sent through those services are deemed effective when received by the charity).

If the brokerage firm can provide the donor with documentation showing that the gift was irrevocably initiated before the end of the year, the donor might be able to claim the gift was effective as of that date, but for your purposes you should only provide confirmation of dates of which you have actual knowledge. Typically, you’d only have knowledge of the date the securities were received in your account and shouldn’t provide any other information beyond that. You should make it clear to the donor that the date of the gift on your end may not be the same one the donor uses for determining their charitable deduction.

Council members are able to send their questions to our Legal team for expert advice and analysis. You can take advantage of this member benefit by becoming a member today.

DAF Regulation Comment Period Extended

Recently, the Department of Treasury and IRS proposed regulations regarding donor-advised funds (DAFs), aiming to provide clarity on various definitions and specifics. In response to the Council's request, the Treasury has extended the comment period to February 15, 2024. This proposal establishes foundational definitions for future regulatory actions. Stakeholders are encouraged to share their feedback on the potential impact of these regulations on charitable giving by reaching out to designated contacts or emailing govt@cof.org.

2024 Trainings on the Calendar

The full schedule of 2024 Council trainings is on our Events page, and registration is open for all trainings through May.

If you're looking to take Community Foundation Essentials (CFE) Fundamentals, Legal Matters, Essentials of Policy Advocacy, or our brand new Global Grantmaking Essentials in 2024, take a look at the calendar and register today!