Resources for Advisors

Professional advisors are a crucial link between people who want to give or plan their legacy and The Community Foundation. Our GiftLaw website features the latest news on charitable planning, a complete tax reference, gift calculators and case studies. For updates by email, subscribe here.

Washington News
Federal Debt Limit Agreement Avoids U.S. Default

With a vote of 314 to 117 in the House of Representatives and 63 to 36 in the Senate, Congress sent the Fiscal Responsibility Act of 2023 to the President. When the President signs the bill, the threat of a default on U.S. debt and obligations is avoided. There was a sigh of relief in Congress, the White House, the financial markets and by world leaders. All were hoping for a compromise and bipartisan support for the bill. After extended negotiations between President Biden and Speaker of the House Kevin McCarthy, a bipartisan compromise was reached. The bill suspends the debt limit of $31.4 trillion until January 2025. After the next election in November of 2024, the new Congress and Administration will need to set an updated limit. The key compromises related to defense and nondefense spending. Both will be limited in 2024 and 2025. Nondefense spending growth in 2025 will be limited...

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GiftLaw Pro
Charitable Tax Reference

GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...

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Deduction Calculator

The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...

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Case of the Week
Gifts from IRAs, Part 8

Quentin Charles Douglas was the firstborn child in a large family. Throughout his childhood, Quentin's parents worked hard to put food on the table for their children. They also instilled in Quentin

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Private Letter Ruling
Foundation's Set-Aside Request Approved

Foundation is tax-exempt under Sec. 501(c)(3) and a private foundation under Sec. 509(a). Foundation requested approval to set aside funds in connection with Foundation's goal to increase the

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Article of the Month
Donations of Intellectual Property Part II

Intellectual property refers to assets that do not have a physical form. Common types of intellectual property (IP) include copyrights, trademarks or patents. As intellectual property filings continue

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