Some vendors advocate sending out "weekly generic emails" to prospects and financial advisers. "Stay in their face," they say..
Some vendors advocate sending out "weekly generic emails" to prospects and financial advisers. "Stay in their face," they say..
Most in philanthropy are not that tech-savvy. And if one does not understand the basics, it's much too easy to go down a misguided path by taking advice from someone not as much interested in his or her institution's long-term interest.
A few weeks ago, I was approached by a charity with a donor who, at the end of 2021, had just retired from farming. That means he has a harvested grain crop in the bin, which has yet to be sold to produce taxable income. But because he is no longer farming, he will not receive tax deductions this year for expenses such as seed, fertilizer, and fuel. As a result, he will have a pile of taxable Ordinary Income to report for tax purposes when he sells the grain, with no offsetting deductions. He really doesn’t need the income this year because he sold some machinery. He would like to spread the grain profits out over his lifetime for tax and cash flow purposes. I offered to help him set up a CGA funded with 45,000 bushels of corn. At a market price of about $6 per bushel for
Successful people never “find” themselves; they create themselves by tapping into their potential. Everything in life exists in potential, and those who recognize its power achieve more than those who ignore their influence over events. You always have a choice: be intimidated or inspired, let obstacles stop you or use them as setups for a comeback. The key to success is not about finding yourself but about continuously creating and refining who you are through mindset, effort, and action.
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