Category Archives: Professional Advisors

This is the Time of Year to Think About Your Year-End Giving. Here are Some Things to Consider to Create an Impact Within Your Community.

People at a meeting table
Joe Carter meeting with the Payne family.

2020 has been a trying year, but with the holiday season nearly upon us, giving back becomes front-of-mind for many, and in this unprecedented year, that support is needed more than ever.

A few things we have for you to remember – First visit with those organizations you wish to support to better understand the impact your gift will make if you decide to make a year-end gift. Second, meet with your financial advisor to better understand what assets would make the best gifts and what tax benefits have changed in 2020. For cash gifts in 2020 you can receive a charitable deduction up to 100% of your adjusted gross income. Appreciated stocks, bonds, mutual funds, property and even cash gifts have the potential for greater charitable deductions in 2020.

In addition, individuals age 70.5 and older with a traditional IRA have historically had the opportunity to roll their required minimum distribution directly to a charity without reporting it as income. For 2020, the age was raised to 72 with no mandatory distribution requirement. However, you can still take advantage of the rollover at age 70.5 for charitable gifts.

At the Oklahoma City Community Foundation, our expert staff and many charitable tools can help you make a charitable impact. With 365 charitable organization endowment funds, hundreds of scholarships and the ability to create a donor advised fund or legacy gift, we are prepared to help you make a difference in the community. In addition, GiveSmartOKC.org, our online date hub, donors can discover more than 300 central Oklahoma charities, their programs and how they benefit the community to make informed decisions.

By working with the donor services team at the Oklahoma City Community Foundation, you can be sure you can make decisions about the local nonprofit organizations you wish to support and what your impact will have on the community.

If you would like more information on how you can make a greater impact in your community through year-end gifts, call Joe Carter at 405-235-5603, or visit OCCF.org today.

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.