YOUR COMMUNITY.  YOUR LEGACY.

SONOMA VALLEY FUND

TAKING CARE OF BOTH.

January 2013
Sonoma Valley Fund Partner Newsletter

 

In This Issue
Fiscal-Clff Bill and Your Donors
Endow Sonoma Valley Month Results
Welcome Kimberly Blattner
Quick Links
Join Our Mailing List

Greetings!


Welcome to the Sonoma Valley Fund Partner Newsletter.  Periodically we will use this newsletter to communicate items of particular interest to our non-profit partners (that are not necessarily of interest to our general newsletter readers). 

If you would like to contribute to the newsletter, send your article to Joshua Rymer no later than April 15th, 2013.

We'd appreciate any feedback you have on both the content and the form of these types of communications.  Also, if you would like us to add any of the other people on your staff or on your Board to the mailing list, please just let us know.

Fiscal-Cliff Bill Restores Tax-Free IRA Distributions  


We have good news for you and for all of your donors over the age of 70�. The "fiscal-cliff" bill, known as the American Taxpayer Relief Act of 2012 (ATRA), restores the ability to make tax-free transfers of IRA distributions of up to $100,000 to non-profit organizations in 2013, and retroactively for 2012.

Here are four types of IRA donors affected positively by ATRA:

  • If any of your donors made a Qualified Charitable Distribution in 2012 directly from their IRA to qualified charities, with the hope that the law would make their distribution tax-free retroactively, they have guessed correctly.  Their 2012 qualified charitable distribution from their IRA is tax-free retroactive to January 1, 2012.
  • If any of your donors did not make a qualified tax-free IRA distribution to a charity in 2012, they still may do so during January of 2013.  As long as they complete the distribution before February 1, 2013, their IRA transfer to a qualified non-profit will be considered a tax-free event in 2012.
  • If any of your donors received an IRA required minimum distribution in December 2012, they may make the December distribution partially or completely tax-free by making a cash gift to a qualified charity during January of 2013, or by using a December 2012 cash gift made after they receive their required minimum IRA distribution. This will lower or eliminate the tax on the December Required Minimum Distribution. The cash gift must be made before February 1, 2013.
  • In 2013, ATRA allows tax-free distributions up to $100,000 from IRAs to charity until December 31, 2013.  The same rules in force since 2006 to qualify your IRA transfer as tax-free still apply: Donors must be at least 70� at the time of the transfer; the transfer must be made directly by their IRA custodian and cannot exceed $100,000.
If any of your donors fall into any of these four categories, please encourage them to contact their tax adviser right away.

 

Endow Sonoma Valley Month Results Are In  

Legacy Gifts to Non-profits Doubled During 2012   

 

The Sonoma Valley Fund was proud to sponsor Endow Sonoma Valley Month during October of 2012.  The goal was to increase awareness of legacy giving in the Valley and to encourage more people to make a legacy gift commitment.  Specifically, we set a goal of doubling the number of known legacy gift commitments to Sonoma Valley Fund and all of its non-profit partners during the the course of year, and it worked!

Whitney Evens, outgoing chair of Sonoma Valley Fund's Partner Support Committee, finalized the semi-annual census of our 22 non-profit partners in mid-January.  Overall, the number of known legacy gifts to Sonoma Valley Fund and its non-profit partners now totals 222, up from 114 at the end of 2011 (just shy of 100% increase). 

This is a remarkable jump in the number of legacy commitments in a short period of time.  Thanks to everyone in the community and our non-profit partners who worked so tirelessly to develop these gifts! 
Welcome Kimberly Blattner
New Chair of the Partner Support Committee

Sonoma Valley Fund welcomes Kimberly Blattner, a resident of Sonoma since 1982, to its board and has also asked Kimberly to Chair the Partner Support Committee. 
Kimberly Blattner
Kimberly Blattner
"Kimberly is the perfect candidate to head this critical committee given her broad and deep connections to the leaders of the non-profit community in the Valley", says Barbara Young, President of Sonoma Valley Fund. 

Many of you already know Kimberly based on her work in the community.  She was Board Chair for La Luz Center for two years and founded the Sonoma Valley President's Council, as well as served as its chair for the first two years. 

Kimberly was raised in Oregon and came to California to attend Stanford University, where she earned a BA in Political Science and was captain of the women's varsity swimming team. She later received an MA and elementary and secondary teaching credentials from UC Davis and taught high school for 14 years, serving as chair of the English Department at Sonoma Valley High School from 1988-90.

She has served on the boards of Presidio Hill School, Philharmonia Baroque Orchestra, SFMOMA Docent Council, League of Women Voters of Sonoma County, Enterprise for High School Students, and La Luz Center, where she was Board Chair for two years. Kimberly is currently a member of Sonoma's Community Services and Environment Commission.

We hope that you are as excited as we are to welcome Kimberly to her new role! 
As always, you can learn more about the Sonoma Valley Fund by visiting our website: Sonoma Valley Fund.

 

Sincerely,

 

Joshua Rymer

Vice President - Sonoma Valley Fund

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Sonoma Valley Fund
Box G
Sonoma, CA 95476
www.sonomavalleyfund.org
An affiliate of Community Foundation Sonoma County