Category Archives: Professional Advisors

Make More of an Impact with Your Charitable Giving This Year with a Planned Gift at the Oklahoma City Community Foundation

Professional advisor meeting
Joe Carter, Vice President of Development, and Kendra Robben

An accomplished Oklahoma City businesswoman, Dortha Dever not only paved her own path to success with hard work and perseverance, but she also paved a path for others by leaving a gift in her will to support her community.

Dortha Dever

Dortha graduated from Oklahoma City University with a degree in finance before beginning a successful 32-year banking career at American Fidelity Assurance Company, retiring as assistant vice president. She was also connected to the American Fidelity Philanthropic Committee Board and the Executive Women International Philanthropic Committee.

Dortha believed education was the catalyst for her long and successful banking career, and she knew she wanted to help others achieve their goals. She met with her attorney and the Oklahoma City Community Foundation to discuss how she could use her assets to make a difference both during her life and after her death.

Students at OCU
Sha Ingram and Karina Salazar-Lopez are recipients of the Dortha Dever Business Scholarship.

Because Dortha was over age 70 and didn’t necessarily need the required minimum distribution from her IRA to survive, the Community Foundation suggested she use the IRA Charitable Rollover to fund a scholarship to support female students studying business at Oklahoma City University. Dortha also chose to leave her estate to the Oklahoma City Community Foundation, providing additional support to her scholarship as well as designating four charitable organizations to receive annual grants from her fund.

Dortha passed away in 2015, but because the scholarship fund and the fund established through the gift in her will were endowed, they will fulfill Dortha’s charitable goals in perpetuity.

Planned gifts allow donors to leave larger, more impactful gifts and are often the most significant gifts a donor will ever make. Most importantly, leaving a planned gift doesn’t have to be a complicated process, especially when the experts at the Oklahoma City Community Foundation are here to help. We provide an easy and effective way for any donor to designate a gift through their will or trust to support their favorite charities or causes. As a 501(c)(3) public charity, we handle all administrative and legal requirements and offer great tax advantages.

Our free guide to planning your will and trust can help you and your family begin to think about how you want your assets to be distributed at death. We also offer sample bequest language to share with your attorney or financial planner.

If you have questions, don’t hesitate to reach out to Joe Carter, vice president of development, at 405/606-2914.

Make a Gift to Charity and Receive a Guaranteed Paycheck for Life!

Steve Kamm with students at Oklahoma City Community College

The Oklahoma City Community Foundation can help you make a gift to your favorite charitable cause and receive a guaranteed, secure “paycheck” for life with a charitable gift annuity (CGA).

CGAs may be used to support or establish any charitable fund at the Oklahoma City Community Foundation, including scholarships. Retired professor Steve Kamm (pictured above) established a CGA that provides him with an annual income stream. The remainder of the annuity will support a scholarship for international students attending Oklahoma City Community College.

“When I learned that most financial aid programs are not available to international students, I wanted to find a way to help,” Steve said. “My financial advisor suggested the Oklahoma City Community Foundation.”

How Does a Charitable Gift Annuity Work?

Gift Annuity Rates
Act fast, these rates will only be applicable through Dec. 31, 2019.
Age 60 = 4.7%
Age 65 = 5.1%
Age 70 = 5.6%
Age 75 = 6.2%
Age 80 = 7.3%
Age 85 = 8.3%
Age 90+ = 9.5%
Source: American Council on Gift Annuities
  1. You make a tax-deductible gift (cash, securities, real estate or other assets) to the Community Foundation.
  2. We send you a guaranteed income for life (a percentage of the annuity based on your age).
  3. Your chosen charity receives the remaining balance in the annuity.
  4. Act before Jan. 1, 2020, to take advantage of the higher CGA payout rates.

For example, a 75-year old can expect to receive a 6.2% rate of return and an approximate charitable deduction of 45% of the face value of the contract.

Learn more about CGAs or contact Joe Carter, Vice President of Development, 405/606-2914 to request your personalized gift annuity illustration.

Charitable Giving Guide:
12 Ways to Give to Charity and Put Dollars Back in Your Pocketbook
Looking for more giving options that can benefit both your community and your pocketbook? Check out 12 ways to get the biggest bang for your charitable dollar.