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Professional Advisor Newsletter

January 2023

Background: two people discussing finances - Caption: No need to wait: Talking with your clients about charitable giving before year-end

January is a good time to start helping your clients plan for their annual giving. With the year-end flurry of donations still fresh in many clients’ minds, you may discover that clients will welcome your suggestion to make 2023 the year to get organized early, particularly as economic headwinds make planning especially important.

A conversation that benefits everyone

Among the many benefits of discussing charitable giving with your clients is that your clients will see you as an expert about local community needs and nonprofits, especially when you have a close working relationship with the team at the Idaho Community Foundation.

Your philanthropic clients want to learn how they can make a difference through their charitable activities, and they are expecting their advisors to be ready to help them structure and plan their giving. Research has shown that a proactive advisor who offers options for incorporating philanthropy into financial and estate plans inspires client loyalty, even across generations. 

The Idaho Community Foundation advantage
Advisors frequently comment that they’re surprised to discover the many ways the Idaho Community Foundation can help their clients, especially compared with national Donor Advised Fund programs affiliated with brokerage houses or financial services firms. 

Sometimes the greatest needs really are right here at home. Working with ICF is often the best option for ensuring that your clients are making an informed charitable impact where they live. Our team works with Idaho nonprofits and community organizations every single day and thoroughly understands how organizations are meeting community needs.

In addition, ICF is unparalleled in its ability to be flexible and responsive, providing outstanding, personal service designed around your clients' needs while always respecting your role as your client’s primary advisor. 

Options for every client’s unique situation
Our team welcomes the opportunity to work with you and your clients to implement their charitable giving goals. Here are just a few of the ways we can work with you as you plan for 2023:

Wills and trusts
A client can establish a bequest to a charitable giving fund at ICF through a will or trust or through a beneficiary designation on a qualified retirement plan or life insurance policy. We can provide proper bequest language.

Retirement plan beneficiary designations
Bequests of qualified retirement plans can be extremely tax efficient. Funds flowing directly to a client’s ICF charitable giving fund from a retirement plan after the client’s death will not be subject to income tax or estate tax.

Family philanthropy
Consider encouraging clients to involve their children and grandchildren in philanthropy, especially when the clients are working with ICF through a family Donor Advised Fund or other collaborative vehicle. ICF has Idaho’s only 21/64 Certified advisor on our staff – Senior Philanthropic Advisor Lisa Bearg

Income tax planning
Remind clients that they are eligible for an income tax deduction for lifetime charitable gifts, and the gifted assets are no longer subject to future estate taxes. 

Complex giving
Consider more complex giving vehicles, including charitable remainder trusts, charitable gift annuities, and gifts of closely held stock. ICF can work with you to establish these structures to help facilitate your clients’ charitable giving goals and meet the clients’ financial and tax goals at the same time. 

We look forward to working with you in 2023!

For more information about ICF, please contact us:

Kris Kamann Rich Ballou Background: Peter Faucher standing in front of brick building
Kris Kamann
Senior Philanthropic Advisor
(208) 342-3535 x14
Rich Ballou
Philanthropic Advisor
East Idaho
(208) 342-3535 x22
Peter Faucher
Philanthropic Advisor
North Idaho
(208) 342-3535 x23

The team at the Idaho Community Foundation is a resource and sounding board as you serve your philanthropic clients. We understand the charitable side of the equation and are happy to serve as a resource as you manage the primary relationship with your clients. This newsletter is provided for informational purposes only. It is not intended as legal, accounting or financial planning advice.  

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Idaho Community Foundation
210 West State Street  •  Boise, ID 83702
Phone: 208.342.3535  |  Fax: 208.342.3577  |  Email: info@idahocf.org