Doing good with positive tax strategy
Hugh Smith appreciates the Community Foundation for what it provides his clients – a way to do good for the community while providing a great tax-reduction strategy. That’s important for his work at the Welch Group, where he helps families secure their financial future.
“Clients get real excited when they open a Community Foundation Donor Advised Fund or when they name the Community Foundation as a beneficiary to an IRA,” Smith said. “They know their hard-earned money will go to a good cause and not the tax man.”
Hugh also has personal experience with the power of an Advised Fund at a community foundation to perpetuate a charitable legacy. When his brother died in a car accident a few years ago, the Samuel Lee Smith Advised Fund became a way to continue his involvement with children in need, especially through youth sports.
Today the Advised Fund continues to grow through gifts from friends and other fundraisers, while his brother’s children remember their father’s legacy by making grants to benefit reading programs, Scout camp scholarships and equipment needs for young athletes.
Check out For Professional Advisors if you work with generous clients who may wish to give through the Community Foundation or For Donors to find out more about how we work with individuals, families and businesses. Or contact Erin Stephenson for more information.