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Newsletter October 2010

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Planned Giving Mentor

Of Counsel: Winton C. Smith, Jr., JD

Salute to Clients: Each year Connell & Associates make a donation to a worthy charity in the name of our clients. This year we have purchased 1,000 meals for the Food Bank of Central & Eastern North Carolina for the benefit of the Sandhills Food Bank.

May you and your families receive the blessings of the Holiday Season. ___________________________________________________________

Quotes for today: The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little. Franklin D. Roosevelt

Keeping Folks Informed on the Power and History of Bequests.....Gary Curto, Executive Director of the Cookeville Regional Medical Center Foundation has an article on the front page of the Foundation's web site with a link to "In Appreciation to and in Memory of Robert (Bob) E. Cullom." I recommend you read it to appreciate the attention needed to small dollar consistent donors and the ultimate power in their bequests.


The Power of Thank You...Two Little Words.....A donor friend of mine told me an interesting story. It seems she paid of a six-figure pledge early because she knew the organization needed the funds and it worked for her tax situation. It seems when she attended an event for the organization the Executive Director never acknowledged her and of course did not thank her for her support. And this was after her family made a significant gift of property to the charity. To add insult to injury she received a FORM letter for her tax records. Well, you guessed it the organization is no longer on her support list.

Her story got me to thinking about the power of the thank you. When I discovered a powerful column by not-for-profit CEO Nancy Lubin in Fast Company she writes "Thanking people isn't a matter of common leads to bigger profits (read donations). Noah Goldstein writing for Inside Influence has a great article on How to increase your business by showing appreciation. Staff appreciation doubled the compliance rate of new gift requests.

There are many lessons to be learned about thank you's. The next time you hold a door for a person see if you get your thank you, I know I only do 50% of the time.


Gift Plans and Strategies Every Advisor can suggest to Clients.... Just Click the link to get your copy of this 21 page report.

How many Estates paid the estate tax in 2009....Your choices .................................

A. 32,751, B. 28,245, C. 21,932, D. 17,416, or E. 14,713 see answer below


Getting Your Legal Affairs in Order?.....If you died today what would happen to your loved ones and your property? Who would assume responsibility to make sure everything was okay? How would anyone know your plans for the care of your loved ones and our property? Know the The Three P's of estate planning: People, Property and Plans.

To help guide you download this important Family Document Locator form. Of course you will also need a valid will, perhaps a Living Trust, a Durable Power of Attorney and Advanced Healthcare Directives or a Living Will valid in your state of residence.


News and Notes....For the 10-year period ending on August 31, 2010, stock measured by the S&P 500 lost a cumulative 16.7% compared to bonds, which were up 87.1%. On an annualized basis, this translates to -1.8% for stocks versus 6.5% for bonds. (source: BNY Mellon Wealth Management Investment Update). Is it any wonder seniors are looking for a guaranteed source of income!

There were only 14,713 taxable estates in 2009 ($3.5 exemption amount) which represented only 0.6% of taxable estates this is down from 22,798 estates in 2006. source: Department of Treasury. (This number will rise considerably if the exemption amount goes to $1.0 million in 2001.)

Fidelity Charitable Gift Fund reports just over 1/3 of American donors expect to give less during the final quarter of 2010. (source: Chronicle of Philanthropy, Nov 4, 2010)

The Chronicle of Philanthropy reports Nov 17, 2010 the Deficit Plan Would Eliminate Tax Deductions for Charitable Gifts and replace it with a 15% tax credit. The tax credit would go to the organization not the individual. Stay tuned for more info.

Crescendo Interactive, November 22, 2010 e-newsletter reports broad support for Tax Extenders, which includes the IRA rollover which will be retroactive to Jan 1, 2010. Comment: even if the IRA rollover is not approved and individuals have to declare the withdrawal as income, if they contribute the entire amount and itemize their deductions it should be tax neutral.

Hawaii, Oregon and Minnesota have the highest state income tax rates at !!%, 11% and 10.9% respectively.

Thoughts form the Waller Financial Planning Group Legacy Press Newsletter. Philanthropic organizations must be consistent and persistent. Successful cultivation of prospective donors requires multiple "touches" or points of communication....repetition is critical to building relationships. Well said.

A hot web service wants to keep your consumer electronics out of the landfill and give you cash or your organization cash. Check it out it is really neat.


Quiz Answers: E. 14,713 or 0.6% of all estates. If you guessed C. 17,416 that was the number of taxable estates for 2007. Source: Crescendo October 31, 2010 e-newsletter


Kudos Corner

This is a new section where I will be highlighting some gift expectancies and gift program elements I think will be helpful and informative, not all gifts are included.

Kudos Corner will return next issue with full information.

Congratulations to LifePath Hospice, Temple Terrace, FL for securing end of year gift annuities.


James E. Connell and Associates is a national consulting service devoted to increasing resources for charities using the power of charitable estate and gift planning techniques.

Pinehurst office: PO Box 3335, 15 Pinewild Drive, Pinehurst, NC 28374
Phone: 910-295-6800

Northeast office: 20982 Bayside Avenue, Rock Hall, MD 21661

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