Honoring a Family Legacy
Through a gift of oil and gas assets, Paula Gabrish helped the Moore High School Alumni Association establish a scholarship for the band. 
 
As a graduate and former member of the band at Moore High School, Paula Sue Gabrish says it was an easy decision to support the Moore High School Alumni Association Music Scholarship Fund at the Oklahoma  City Community Foundation.
 
When Paula Sue inherited oil and gas assets, her CPA advised her to make a charitable gift to help offset taxes. In 2010, she made a significant gift to the music scholarship fund that supports an award for a graduating senior who was a member of the band or choral group and plans to pursue a music degree.
 
"I've always wanted to do something for my high school," says Paula Sue. "When my CPA advised me to make a charitable gift, I immediately thought of the music scholarship."
 
Larry Haswell, a former band member and past treasurer of the association, said he had long envisioned creating a scholarship for band and vocal music students.
 
"Paula's generous gift to the music scholarship fund helped put into motion one of the alumni association's largest scholarship offerings," said Larry. "Paula's band experience has obviously inspired a willingness to give back in hopes that others will have a similar experience. Her support of this program honors her father and is a lasting tribute to her family."
 
The Moore High School Alumni Association Scholarship Fund is just one of the many scholarship endowments we administer! D iscover how we can help your clients help our community's future by establishing a scholarship fund  here. 
 
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Income for Life and Leaving a Legacy: A Win Win
A steady source of income for life and leaving a legacy for charity are very enticing ideas for clients seeking advice from professional advisors. With the recent tax changes, now is a great time to suggest charitable solutions like a charitable remainder trust that could help your client provide for their family and a charitable organization close to their heart. By understanding charitable remainder trusts and how they can benefit both your client and charity, you can help guide your clients toward a gift that will best fulfill their philanthropic goals. And as always, feel free to contact Joe Carter at 405/606-2914 to learn how we can help facilitate these gifts for your clients.  


Case of the Week: Exit Strategies for Real Estate Investors
Karl Hendricks was a man with the golden touch. Throughout his life, it seemed every investment he touched turned to gold. After buying a "fixer-upper" commercial building in a great area, he invested in renovations to the building. Within just a few months, he had an interested buyer turning a hefty profit. To avoid short-term capital gain taxes, he plans to transfer the property into a FLIP CRUT. However, he knows the IRS will not just take his word for this being a charitable income tax deduction, so what steps does he need to take in order to validate and solidify his deduction? 
                       

Upcoming Events

Do you want to increase your professional knowledge and skills and better serve your clients? Do you want insight that will benefit your clients immediately? This free luncheon through the Oklahoma City Community Foundation and the Cannon Financial Institute helps you make it happen!

Join us for the next Cannon Estate Planning Lunch & Learn on May 22.

May 22
Engaging the Next Generation of Estate Planning Clients
Registration is closed.
 
June 26
Ethics Issues Facing Trusts and Estates Practitioners
Registration will open May 23.
 
July 24
Management (and Mismanagement) of Trust Assets

Registration for each event will open online following the prior month's teleconference.
   

Contact:
Joe Carter
Director, Development
j.carter@occf.org
405/606-2914