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Professional Advisors


We consider attorneys, accountants, financial planners, insurance agents and other professionals who have relationships with donors to be our valued partners.   As a professional advisor, the opportunity you have to help your clients achieve their philanthropic goals is both a privilege and a challenge.  We at the Webster County Community Fund, together with our partners at the Beckley Area Foundation, want to be a resource for both you and your clients.

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The Beckley Area Foundation is a member of the national Council on Foundations, Philanthropy West Virginia, The West Virginia Business Volunteer Council, Beckley-Raleigh County Chamber of Commerce, and West Virginia Leave a Legacy.  The Beckley Area Foundation 990 and annual audit are available for review in the BAF office.

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Confirmed in Compliance with National Standards

 

We can work together to help your clients address the issues that they care about most while gaining the maximum tax benefits possible under state and federal law.   Please contact us anytime we can be of service. No commitment is required and confidentiality is always respected.


Great Giving Opportunities…for a limited time only

West Virginia State Tax Credits

Periodically the WCCF and our partner, the Beckley Area Foundation, receive tax credits from the State of West Virginia’s Neighborhood Investment Program.  When available, contributions of $500 or more are eligible to receive a tax credit worth 50% of the contribution.  The tax credits can then be used to reduce the donor’s tax liability by that amount.  For instance, a contribution of $1000, could receive a tax credit voucher for $500.  This would then reduce their total state tax bill by $500.   Contact the Beckley Area Foundation at 304 253-3806 to learn more about the NIP program and the availability of tax credits.


When should you talk to your clients about giving?



Year-End Tax Planning Your client just had a stellar year (or earned a large bonus) and wants to give a portion back to the community, but has no time to decide on the most deserving charities. Recommend establishing a donor advised fund through the WCCF for an immediate tax deduction, and the ability to stay involved in recommending uses for the gift for years to come.

Preserving an Estate Estate planning identifies significant taxes going to the IRS, but your client wants to direct dollars for local benefit. The WCCF/BAF can work with you and your client to reduce his/her taxable estate through a charitable bequest or other planned gift. Your client's gift will create a legacy of caring in the community that stays true to his/her charitable intent forever.

Closely Held Stock
Your client's personal net worth is primarily tied up in a closely held company, but it's important for him/her to give back to the community. Recommend establishing a donor advised fund or planned gift; your client is eligible for a tax deduction measured by the fair market value of appreciated stock (less any planned gift value).

Sale or Disposition of Highly Appreciated Stock Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the identified charities are too small to accept direct stock gifts. Suggest establishing a fund at the WCCF/BAF with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from sale of the stock. Your client can even be involved in recommending uses for the gift, including the organizations and programs your client cares about most.

Sale of a Business Your client owns highly appreciated stock in a company that is about to be acquired. The WCCF/BAF can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.

Strategic Giving
Your client is passionate about helping meet a specific community need and wants to make a meaningful gift. You and your client can work with our grant making experts to understand community needs and programs and then direct gift dollars to make the greatest impact.

Substantial Retirement Assets Your client wants to leave his/her estate to community and family, and has substantial assets in retirement accounts. The WCCF/BAF can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to heirs and preserving charitable intent.

Last Updated (Friday, 30 October 2015 14:50)