Last week, I read a profound statement: “Legacy is not what you leave behind, it’s what you set in motion.” This jumped off the page at me and I asked myself, “What do I want to set in motion through our charitable giving?”
Have you considered that there are many forms of giving that can set life-change in motion for a teen in your community? I recently sat down with Thomas Brophy, a Siouxland YFC board member who is passionate about giving to organizations that align with his values. For Thomas and his wife, Amanda, Siouxland YFC is one of those missions. He was drawn to our gospel-focused mission and, as a board member, prioritizes using our funding responsibly and sustainably.
As a Financial Planner with Robert W Baird, Thomas often works with clients to give beyond standard contributions to help maximize their impact. There are many tax-efficient ways to give, including, but not limited to:
- Donating appreciated securities or other assets
- Utilizing donor‑advised funds
- Giving from IRAs through Qualified Charitable Distributions
Each of these tools serve different purposes and allow individuals to make an impact during their lifetime or through their estate.
Recent tax law changes have influenced how many people approach charitable giving. The increase in the standard deduction has led some families to take that deduction rather than itemize each year, making strategies like charitable “bunching” through donor‑advised funds more attractive. Additionally, changes under the SECURE Act require most non‑spouse IRA beneficiaries to withdraw inherited retirement assets within 10 years, affecting legacy planning.
If you want to grow your impact with Siouxland YFC, let’s meet! You can reach me, Karl Van Cura, Development Director, at karl@siouxlandyfc.org or (712) 251-9657.
If you have questions or concerns you can speak with Thomas who is a Certified Financial Planner®. You can reach Thomas at tbrophy@rwbaird.com or (712) 234-4046.
The information offered is provided to you for informational purposes only. Robert W. Baird & Co. Incorporated is not a legal or tax services provider and you are strongly encouraged to seek the advice of the appropriate professional advisors before taking any action. Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.