When non-cash (complex) assets are properly transferred to a fund at the Boston Foundation, they can be sold without incurring capital gains taxes and the proceeds can be given to charity. As a professional advisor, you know that much of your clients’ wealth is in holdings such as appreciated securities, privately held stock or limited partnerships.
A non-cash transaction with the Boston Foundation is a smart approach that benefits you, your clients and the causes they care about and assures that you and your clients will be supported throughout the entire giving process.
The Boston Foundation offers direct access to our highly experienced Non-Cash Assets Team. No bureaucracy. No waiting for approvals from management. Instead, from your initial inquiry, you will work with our most senior staff and receive thoughtful, meticulous, personalized service. We stand ready to provide philanthropic support to you and your clients after the transaction to ensure that your clients’ goals are achieved.
As one of the nation’s oldest and largest community foundations, with more than $1 billion in philanthropic assets under management, the Boston Foundation has a long history of partnering with financial, legal, wealth and other advisors to achieve their clients’ charitable goals. We provide additional support to your work and are able to provide philanthropic tools and guidance. We understand the relationships that you have built with your clients and work alongside you to maintain a high level of customized service.
Note: The Boston Foundation and its staff do not provide legal, tax, or financial advice. Donors should seek their own legal, tax and financial advice in connection with gift and planning matters.
Email Emma B. Penick, MBA, Senior Director of Gift Planning and Advisor Relations or call her at 617-338-2340.
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Kate directs all of our development efforts and works with donors to help them achieve their charitable and philanthropic goals. She shepherds the Boston Foundation’s most complicated non-cash asset transactions and has spoken on non-cash assets to the Planned Giving Group of New England, the Massachusetts Society of CPAs and the Boston Estate Planning Council.
With a background in strategy consulting, nonprofit management and major gifts fundraising, Emma joined the Foundation in 2017. Emma is your first point of contact as you or your clients are contemplating gifts of non-cash assets. She has been involved in non-cash asset gift considerations including personal residences, summer homes, Bitcoin, artwork, jewelry and privately held business interests. Emma earned her A.B. in Sociology from Princeton University, Magna Cum Laude, and her MBA from Harvard Business School.
Al oversees all financial reporting, information technology and operational risk management for the Boston Foundation. Al has worked closely with Chief Investment Officer George Wilson over the past ten years to successfully complete the donation and subsequent sale of many complex asset transactions. Donations have included a wide range of assets, such as single family and commercial real estate properties, various interests in private operating companies, a cruise ship and an interest in a cogeneration power plant.
George has been active in the investment industry for over thirty years. He handles our $1 billion dollar portfolio that is comprised of top quality asset managers. George and CFO Al Van Ranst have worked closely together over the past ten years to successfully complete the donation and subsequent sale of many complex asset transactions. Donations have included a wide range of assets, such as single family and commercial real estate properties, various interests in private operating companies, a cruise ship and an interest in a cogeneration power plant.
Serving as the Foundation’s outside counsel, Mike is one of our nation’s pre-eminent attorneys dealing in gifts of non-cash assets. He has worked on gifts of virtually all types of non-cash assets from real estate, to privately held business interests, to private equity, to personal property, to mineral rights, royalties, patents, and more. Mike’s work with non-cash gift transactions has been highlighted in The Chronicle of Philanthropy. He was selected by his peer attorneys as the non-profit/charities law “Lawyer of the Year” in Washington, D.C. by “Best Lawyers” in 2017 and 2019.
Email Emma B. Penick, MBA, Senior Director of Gift Planning and Advisor Relations or call her at 617-338-2340.