The Gift of Giving
Aug. 15, 2018
As lifelong community volunteers, when Lois and Louis Fingerman were trying to determine how to provide ongoing financial support to the causes they care about, the Community Foundation became a natural partner. “Working with the Community Foundation has given us flexibility. The goals and beliefs of the Community Foundation are similar to ours and our partnership has provided us with the right vehicle to give,” says Louis.
The couple established two charitable giving funds at the Community Foundation, each one supporting an organization they care about. “One charitable giving fund provides support to the Des Moines Art Center to ensure the annual Fingerman Lecture will be adequately funded for years to come. Our second charitable giving fund provides an annual gift to our temple and offers the flexibility to invest in the greatest need at that time. For example, we know it is hard to raise money for a new air conditioner, but support for administrative projects is critical,” shares Louis.
To maximize their giving, the Fingermans take advantage of tax-wise charitable strategies available through the Community Foundation. The IRA Charitable Rollover allows the couple to use their annual IRA distribution as a tax-free way to provide sustainable support. Adds Lois, “We like the Community Foundation model of giving. Giving directly from our IRA makes it easy to support causes we are passionate about.” The Endow Iowa Tax Credit also continues to provide the couple with a unique opportunity to receive a 25% tax credit and ensure that the Iowa organizations they are passionate about will continue to receive their support well into the future.