Maximizing Impact While Minimizing Taxes

Maximizing Impact While Minimizing Taxes

For THCF fund holders Montie and Marjorie Tripp, two words best describe their relationship with Truman Heartland Community Foundation: simplicity and ease.

Working with their professional advisor, the Tripps opened the Montie and Marjorie Tripp Family Foundation Fund to maximize the impact of their current charitable giving.

Historically, they had given to their church. However the new donor advised fund allowed them to do more and realize the tax benefits of donating stock without creating more work for themselves.

"Once we created the fund, we could easily determine where to donate, and THCF took care of distributing checks and record keeping," said Montie. 

Through its Professional Advisor Program, THCF allows approved financial advisors to continue managing their clients' investments even after they initiate a relationship with THCF. This creates a seamless approach for donors and allows professional advisors to continue -- and oftentimes strengthen --the relationships with their clients.

"At the end of the year, for example, I meet with my financial advisor to determine the total dollar amount for donations that maximizes the tax benefit," explains Montie. "We put the money in our family fund and then can direct those donations the following year. It's really very simple and eases my worry about tax planning.”

At a donor’s request, THCF will also research any nonprofit organization. The Foundation can help donors evaluate the legitimacy and impact of a nonprofit, and its programs and services.

Montie emphasized, "If you have a heart to give and want an easy way to do it, THCF can make it happen."


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