Philanthropy

February 2020

Don’t call us a bubble: We are Cambridge

2020-02-21T20:10:28-05:00February 21st, 2020|Civic Leadership, Philanthropy, Press Release|

Photo of HONK! parade passing through Porter Square in October 2019 The LA Times recently ran an article called “Wealth and struggle in a liberal bubble that Elizabeth Warren calls home.” The article captured the strengths and weaknesses of our city, which is experiencing stresses similar to San Francisco and other innovation cities. These complex issues of income inequality, housing and homelessness, and traffic gridlock are taxing urban innovation centers to the breaking point. We need national, regional, and local solutions. And Cambridge isn’t sitting on its laurels waiting for the bubble to burst, nor is it losing its soul. Cambridge is a responsive, compassionate city, fiercely protective of its shared values of kindness, diversity, inclusion, and creativity. Yes, our economy is booming, and with that comes unintended consequences. Our rapidly rising real estate values and a shortage of low- and middle-income housing mean more than half of our residents struggle to find affordable homes. One in seven residents lives in poverty. One-third of our public school students of color are unprepared to pursue the jobs our city offers. One out of 10 Black and Latinx households has no internet yet every major tech company has a presence in

How to support your favorite nonprofits with a donor advised fund

2020-12-02T21:04:25-05:00February 18th, 2020|Philanthropy, Press Release|

"Nonprofit Row," home to the Foundation and nearly a dozen other Cambridge nonprofits. Giving is an impactful way to benefit your community, but it’s important to consider how you give. There are numerous ways to support local nonprofits. From an unrestricted gift of cash, to buying tickets for an annual gala, to opening a donor advised fund (DAF). A donor advised fund is one charitable giving vehicle that can stretch your dollars further and maximize the impact of your donation. DAFs have been gaining popularity in recent years and are a wonderful way to support nonprofits you care about. What is a donor advised fund? A DAF is similar to an investment account with the sole purpose of supporting charitable organizations that are important to you. Assets contributed to a DAF do not have to solely be cash. Individuals may contribute publicly traded securities, bitcoin, real estate, mutual fund shares, and certain complex assets (such as privately held C-corp and S-corp shares). Your donation will then grow in your account tax-free based on your investment preferences. The assets accumulated in a donor advised fund can be used to support virtually any charity that is qualified by

January 2020

Cambridge Community Foundation names Michal Rubin vice president of development

2020-01-30T22:23:20-05:00January 27th, 2020|Civic Leadership, Philanthropy, Press Release|

The Cambridge Community Foundation has named Michal Rubin, a development executive with 15 years of experience in the nonprofit sector, as vice president of development. Rubin will play a key role in helping the Foundation address the social challenges Cambridge faces by strengthening partnerships with donors and nonprofit partners and advancing the organization’s strategic direction in the new decade.

How the SECURE Act changes may affect your charitable giving

2020-01-24T16:32:39-05:00January 22nd, 2020|Philanthropy, Press Release|

By Brad Bedingfield Giving from Individual Retirement Accounts (IRAs) is one of the most tax efficient ways to support charity. At the end of 2019, however, by way of the SECURE Act, Congress changed the law regarding IRAs in a number of ways that could potentially affect charitable giving with IRAs. Here’s a rundown of how the new act may impact donors plus more information about charitable giving through IRAs. Potential changes under the SECURE Act Qualified charitable distributions (QCDs, sometimes referred to as charitable rollovers) are nothing new – Congress allowed them for years on a temporary basis, and the law allowing them was made permanent as part of the Tax Cuts and Jobs Act in 2017. Now, with the 2019 SECURE Act, perhaps the most significant change is that most heirs of IRAs can no longer stretch IRA payments over the course of their lifetime. Many heirs who under prior law could have deferred realization of income tax over a lifetime are now required to take all inherited IRA assets into income within 10 years of the IRA owner’s death. By accelerating the payment schedule and the accompanying income tax burden after death, this change in law

Five ways to give back to your Cambridge community in 2020

2020-11-24T15:50:59-05:00January 15th, 2020|Civic Leadership, Philanthropy, Press Release|

Photo courtesy of Cambridge School Volunteers. Could one of your New Year’s resolutions be to more actively participate in the community? In a big world with many challenges, taking local action is a way each of us can make a difference — by impacting one family, one nonprofit, one cause, or one community. If you live, work, or spend time in Cambridge, consider giving back to the community in 2020. Here are some ideas to get you started: 1. Gift a little of your time. Consider using some of your free time to do something positive getting better connected with our community (and have fun). Do you have MLK Day off from work? Invite family or friends to join you at the MLK Day of Service (Monday, Jan. 20 in Central Square) to make valentines for seniors, create fleece blankets and scarves for community members experiencing homelessness, and more. There are also numerous year-round volunteering opportunities. Those who care about addressing the climate crisis, can join the Charles River Conservancy for clean-ups of public parks and recreational areas. People interested in supporting the next generation can make meaningful connections with youth through Cambridge School Volunteers. You can find

December 2019

November 2019

The Cambridge Community Foundation infuses $672,500 into Cambridge through nonprofit grants

2020-11-24T18:56:06-05:00November 26th, 2019|Grantmaking, Philanthropy, Press Release|

Photo courtesy of Playworks New England November 26, 2019—Cambridge, MA The Cambridge Community Foundation announces it will infuse a total of $672,500 into the nonprofit sector in Cambridge, Massachusetts through its fall grantmaking and new investments in focused areas. Fifty-six local nonprofits will receive a total of $357,500 in grants from the Community Fund to help address a wide range of needs in Cambridge, including hunger and homelessness, and other housing challenges; youth and early childhood education and services, work force training, and services for elders. Grants also invest in preserving our city’s artistic and cultural vibrancy. The Foundation, in partnership with its donor partners, is also distributing an additional $315,000 this fall to strategic investments in three important areas: Equity and opportunity bolstering out-of-schooltime programs for middle schoolers through the Agenda for Children supporting the expansion of the Becoming A Man (BAM) guidance program for young men into Cambridge Rindge and Latin School investing in Cambridge Housing Authority’s Work Force program over three years to ensure low-income youth in Cambridge can access the award-winning program of educational, job, and career and college prep help expanding the HomeStart program in Cambridge to support low-income residents seeking affordable housing increasing mentorship

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