September 10, 2021
With charitable bequests on the rise, and the possibility that more clients will be subject to Federal estate taxes in the future, many attorneys, accountants, and financial advisors are refreshing their recollections on the requirements of advising and administering taxable estates where one or more charitable organizations is a beneficiary. Advisors’ fiduciary responsibilities to charitable […]
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August 27, 2021
A force in Arkansas farming and communication industries for decades, Ritter Arnold’s family has always chosen to be charitable in the communities where they do business. Arnold is a longtime fundholder with Arkansas Community Foundation, sits on multiple boards in Arkansas and comes from a long line of intentional philanthropists. “My grandparents sponsored three Polish […]
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August 23, 2021
St. Francis Food Pantry founder, the late Catherine Freeman, would rather give food to someone who didn’t need it than miss anyone who did. Along with running the busy food pantry in Forrest City, current director LaTwon Whitby inherited Freeman’s desire to feed every person in St. Francis County who needs food. Though Whitby has […]
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July 12, 2021
Your team at Arkansas Community Foundation stays on top of tax cases, IRS rulings, and legislation that could impact the advice and counsel you provide your clients on matters involving charitable giving. Here are a few current highlights and reminders we recommend you skim. Electronic filing is now required for private foundations For tax years […]
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June 22, 2021
Richard Bell’s accounting business has been a family affair from day one. “I wanted to get married. But Lee told me I needed to not work at a grocery store for the rest of my life, so I went into accounting,” said Richard. Forty years of marriage to Lee, two children and four business partners […]
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May 17, 2021
By Laura Landreaux It’s been one year since Entergy Arkansas joined with the Winthrop Rockefeller Foundation, community leaders and elected officials at the Arkansas State Capitol to announce our participation in the ALICE (asset limited, income constrained, employed) research report. Little did we know, COVID-19 would drastically impact our world as we knew it. According […]
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May 11, 2021
Your clients might make donations to entities that do not fall under a specific section of the Internal Revenue Code, but feel “charitable” nonetheless because the dollars are helping people in need. Perhaps a client has helped set up a dedicated account at a bank to provide scholarships to the children of an accident victim, […]
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May 11, 2021
When tax season rolls around each spring, a new crop of questions may arise concerning clients’ gifts to various organizations and whether those donations qualify as tax-deductible charitable contributions. Section 501(c) of the Internal Revenue Code lays out the requirements for organizations to be considered tax-exempt—a status for which an organization must seek IRS approval. Tax […]
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April 9, 2021
Estate and tax attorney Neal Pendergraft lives his life looking forward, not back. A Fort Smith native now living and working in Fayetteville, he believes it is never too early to begin to educate the next generation on the importance of philanthropy. “I have some clients who will be a perfect fit for the Community […]
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March 4, 2021
For many donors, the importance of a multi-generational family philanthropy plan is high on the radar, especially in the wake of 2020’s eye-opening events highlighting the importance of rallying around important social and community priorities. How do you know when a client’s family is a strong candidate for more formal philanthropic planning, beyond simply budgeting […]
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