The Otsego Community Foundation (OCF) is accepting scholarship applications for graduating seniors as well as current college students starting on February 4, 2020. A total of 15 scholarships will be awarded, ranging from $500-$1,500. General scholarships, as well as...
Bill Corkill
OCF’s Karin Beyer Receives Chamber Award
On January 23 at the annual Gaylord Area Chamber of Commerce (GACC) Awards Celebration, OCF’s Karin Beyer was recognized with the Patti Dobrzelewski Volunteer of the Year Award. The award recognizes a community leader who donates his or her time to Chamber...
Watch out for compliance pitfalls as clients favor gifts of hard-to-value assets
If volatile market conditions persist, gifts of hard-to-value assets may become popular substitutes for appreciated stock gifts. That’s why we’re keeping a close eye on the IRS’s scrutiny of Form 8283, “Noncash Charitable Contributions,” especially now that the final...
Corporate philanthropists get relief from SALT cap on charitable donations
Businesses frequently make cash donations to charitable organizations. But what happens to the deductibility of those donations under the state and local tax limitations imposed by the 2017 tax law? This issue continues to be the subject of discussion, but your...
Charitable planning is a must prior to sale of a business
A new decade frequently inspires closely-held business owners to start thinking about an exit strategy. Before your business-owner client starts putting out feelers to potential acquirers, be sure to counsel your client about the benefits of contributing an ownership...
Special opportunity for a higher charitable deduction
Don’t miss out on the opportunity to inform your clients about a special provision in the Taxpayer Certainty and Disaster Tax Relief Act, signed into law on December 20, 2019 by President Trump. For cash donations made to public charities that are helping with...
So long, stretch IRA
Among the changes enacted by the SECURE Act, which became law on December 20, 2019, is a provision eliminating the so-called stretch IRA. This change, which came as a surprise to many wealth advisors, requires that non-spousal beneficiaries of a decedent’s IRA draw...
Grant Spotlight: Baby Wearing Incentive Program
Babywearing is the practice of keeping your baby or toddler close and connected to you as you engage in daily activities through the use of one of a variety of types of baby carriers. It is a traditional practice in many cultures that is not widely used by modern...
Extreevaganza Raised Record Funds…Thank You
If you made a donation, were a corporate partner, volunteered, or attended Extreevaganza Starry Starry Night, THANK YOU. With your generosity a record $78,000 was raised during this philanthropic evening that benefits the Community Fund of the Otsego Community...
Census 2020: Three Ways to Respond
By April 1, 2020, every home will receive an invitation to participate in the 2020 Census. You will have three options for responding: Online By phone By mail The 2020 Census marks the first time you’ll have the option to respond online. Do you want to respond...
Important Community Grant Program Dates
With the start of 2020 the Community Grant Program is open. The Otsego Community Foundation (OCF) is proud to administer the Community Grant Program – a unique collaborative effort made possible by local funders to increase the effectiveness of grantmaking;...
Grant Spotlight: Otsego County Historical Society
History: A record or account of past events. We are lucky in Otsego County to have an amazing organization that helps tell and archive our local history. At the Otsego County Historical Society (OCHS), you connect directly with the past! Learn about your ancestors and...