Scholarships provide life-changing financial support to students and empower the next generation to pursue their dreams. As students return to school, we’re dedicating this edition of Charitable Insights to Scholarship Funds—how they work, who should start a fund, and their benefits for students—as well as for you and your clients.

Most people are uncomfortable talking about grief and loss. So why should professional advisors do it?

While this past year brought many challenges, it also included signs of hope and kindness. Across central Ohio and the United States, the COVID-19 pandemic triggered a surge in grantmaking from Donor Advised Funds (DAFs), but this is not the first time DAF assets were mobilized on a large scale to address crises.

For more than 75 years, the Foundation has served as the vehicle through which thousands of people have expressed their own ideals and optimism through philanthropic investment in our community. While the work continues, and the hills to climb remain steep, we applaud the generosity of our donors’ commitment to our community and those who call it home.

Congress first enacted this technique, officially called a “qualified charitable distribution,” in 2006, and made the technique permanent in 2015. It can make charitable giving from IRAs exceedingly easy, which is generally not the case for giving from retirement plans during a donor’s lifetime.

We all respond to crises differently. Some people buy the extra large bag of M&M’s. Others clean out their closets. Still others reflect on their life and their purpose. These days, many of us are doing all three. If you’ve noticed an increase in clients interested in legacy planning, the COVID-19 pandemic might be the reason.

Since COVID-19, there's been an increased sense of urgency and a desire for an immediate response to our collective situation. Prospective donors continue to contact The Columbus Foundation to learn how to establish new charitable funds, financial advisors continue to refer charitably-inclined clients, corporations are inquiring about employee assistance programs, and existing donors direct grant support to help their favorite charities—the spirit of giving in response to great need is inspiring.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted into law. Designed to help households, businesses, and nonprofits navigate the fallout of the pandemic, the landmark $2 trillion bill represents the largest economic stimulus package in U.S. history.

As we launch into tax season, what better time to assess whether you've been managing your deductions in a tax-advantageous manner? It's been a couple of years since the Tax Cuts and Jobs Act of 2017 (TCJA) nearly doubled the standard deduction to $24,000 for a married couple and $12,000 for a single person.

Looking to expand your professional expertise in 2020? The Columbus Foundation has teamed up with The American College of Financial Services to offer a study group for professionals who are interested in earning the Chartered Advisor in Philanthropy® designation! Advance your career and become your client’s go-to person for all of their philanthropic needs.