When to call us, philanthropy for young adults, and why it’s not about the tax deduction
Hello from the Morton Community Foundation!
We’re honored to work with so many individuals, families, and businesses to make a difference in the causes you care about. Philanthropy isn’t just about wealth—it’s about values, habits, and improving the quality of life in our community. This philosophy guides the Morton Community Foundation’s work with donors across generations. We hope you enjoy this month’s insights and tips. As always, please reach out anytime!
The Illinois Gives Tax Credit is a real bonus for charitable donors like you. It’s a 25% tax credit for donations made to qualified community foundations (which the MCF is), into qualified endowment funds (excludes endowed donor advised funds). Learn More.
You know the Morton Community Foundation is a terrific resource for all things related to charitable giving. Still, sometimes it is hard to know exactly when to reach out to our team. We’re happy to share five of the many reasons you should contact the MCF. We love hearing from you! Learn More
If you’re a young adult, or the parent or grandparent of a young adult, the Morton Community Foundation can offer a variety of ways to get involved in the community. Making charitable giving part of the plan at an early age can be easy and very rewarding. Learn how to get motivated, get started, and get connected. Learn More
It’s easy to get caught up in the frenzy of tax planning, especially during periods of significant change to the rules. Remember, though, that for most people, financial motivations are not the primary driver of charitable giving. At the Morton Community Foundation, we are honored to experience firsthand–every single day–overwhelming evidence that donors like you truly want to make a difference. Learn More
Thank you for the opportunity to work together! We wish you a happy start to the fall season! I think the weather is going to moderate to a bit cooler starting now. Enjoy.
Your Morton Community Foundation Staff
Scott Witzig, Executive Director
Darcy Roecker, Administrative Manager
Contact us at: email: info@cfmorton.org • phone: 309-291-0434
Lean on us: Five reasons to call the MCF
In an economic and legislative environment full of unpredictability, we encourage you to tap the knowledgeable team at the Morton Community Foundation–perhaps even more than you have in the past.
If you’ve already established a donor-advised or other type of fund at the Morton Community Foundation, you’re familiar with many of the ways we make charitable giving easy, flexible, and effective so that you can achieve your goals for improving the quality of life in our community as well as fulfilling your own estate planning and financial objectives.
Not quite sure when to reach out to the Morton Community Foundation? If any of these situations applies to you, drop us an email or give us a call!
You promised yourself in 2024 that you’ll never again get caught in a year-end crunch.
The last few months of the year are always hectic with holiday activities. When you layer on the added stress of tax planning and completing the charitable giving plans you set back in January, you might tip the scales from hectic to chaos! The MCF can help organize your year-end charitable giving early so that it achieves both your financial and your philanthropic goals.
You’re concerned about recent drops in funding to local charities, but you’re not quite sure about what you can do to help.
The Morton Community Foundation is our region’s home for charitable giving. That means we’ve got a finger on the pulse of our community’s needs and the nonprofits that are addressing them. Our team can provide information about program cuts that have left people in our community vulnerable and share ideas and recommendations for how you can help fill the gaps.
Your tax advisor has suggested that 2025 is an important year to increase your charitable donations, but you don’t want your gifts to favorite charities to suddenly spike and then drop again.
For the small percentage of people who itemize deductions on their individual income tax returns, 2025 may indeed present opportunities. The Morton Community Foundation is happy to work with you and your tax advisors to structure gifts to a donor-advised or other type of fund at the Morton Community Foundation to ensure that you’re leveraging tax advantages while also maintaining consistent support year after year for the causes you care about. Remember that, even if you do not itemize, you can benefit from the Illinois Gives Tax Credit, a 25% tax credit for donations to qualified endowment funds at qualified community foundations (MCF is a qualified cf). Check with your tax advisor to see how it could benefit you.
You’re thinking about selling commercial property or private business interests and you’ve heard that charitable gifts can be an effective component of the transaction if structured correctly.
Many people do not realize until it’s too late that they can give real estate or closely-held stock to a fund at the MCF well in advance of a future sale and achieve significant tax benefits while also setting aside charitable dollars to make a positive difference in the community either immediately or across generations. Before you and your advisors put any pen to paper on the disposition of real estate or private business interests, please reach out!
You’re updating your estate plan and want to leave money to charity, but you’re not exactly sure what charity.
Please reach out to the Morton Community Foundation anytime you are updating your estate plan or related financial documents, such as beneficiary designations on IRAs, life insurance policies, or retirement accounts. Our team is happy to work with your advisors to deploy the Morton Community Foundation’s flexible tools to round out your estate plan and make sure you’re exploring the tax benefits of using various types of assets to fund your charitable intentions.
Whatever your charitable giving situation, we are here for you! Whether you’ve already started a fund at the Morton Community Foundation or you’re considering getting involved, we look forward to our conversation!
Contact us at: email: info@cfmorton.org • phone: 309-291-0434
Philanthropy is for everyone: Three tips for young adults
“Philanthropy” may sound like something reserved for wealthy, “mature” adults, but that’s not at all the case. At the MCF, we work with individuals of every generation, from young adults to retirees and everyone in between.
Young adults in particular are getting involved in the community in ways that look a little different from prior generations. Research shows that Generation Z and Millennials tend to be more focused on issues than specific charities. Not surprisingly, a tech-forward approach to all aspects of philanthropy is common among members of these generations, including engaging with favorite causes on social media and making donations online. What’s more, a 2024 study indicates that for younger generations, volunteering and donating are strongly tied to civic participation.
If you’re a parent or grandparent of young adults, or if you’re a young adult yourself, you’ll be glad to know that the Morton Community Foundation can help. Here are three suggestions.
Make it a family affair.
The Morton Community Foundation works with families to build charitable giving plans that involve all generations to achieve overall philanthropic priorities as well as coordinating with families’ advisors to achieve (subscription required) objectives. For example, a multi-generational philanthropy can include donor-advised funds, legacy plans that include IRA beneficiary designations to establish an endowment, and strategic use of Qualified Charitable Distributions for family members who are 70 ½ or older.
Make a point to start early.
Many young adults are establishing charitable giving practices early in their careers. For example, it’s not uncommon now for new hires to name a charity, such as a fund at the Morton Community Foundation, as the contingent beneficiary of an employer-sponsored retirement plan. In addition, starting in 2026, taxpayers who don’t itemize deductions can still take a tax deduction for charitable gifts up to $1000 for single filers and $2000 for joint filers. This can be a great way for younger generations to support the causes they care about. Although the deduction only applies to cash gifts and does not include gifts to donor-advised funds, it’s nonetheless a notable perk. The MCF is happy to serve as a sounding board for ways to leverage this opportunity to make a difference.
Make new connections.
The Morton Community Foundation can help young people get connected with peer networks who share an interest in getting involved in the community. For example, our team is happy to serve as the back office for establishing what’s known as a “giving circle,” which is a type of fund that allows donors to pool resources with peers to make a bigger impact than they could achieve alone. Giving circles also provide an outstanding hands-on learning experience in philanthropy, especially because the Morton Community Foundation provides education and resources about grantmaking, local needs, and nonprofit leadership.
The Morton Community Foundation is honored to serve as our region’s home for charitable giving across generations. We look forward to working with you and your family to support your favorite charities and achieve meaningful outcomes in our community.
Contact us at: email: info@cfmorton.org • phone: 309-291-0434
Tax deduction? What tax deduction?
Despite–or perhaps in light of–the recent whirlwind of commentary about new federal laws and the implications for the charitable deduction and charitable giving, it is really important keep in mind that for most individuals, the decision to give is driven by deeply personal factors–such as compassion, moral obligation, empathy, or a belief in a cause—rather than financial incentives.
Indeed, altruism and emotional resonance, not tax breaks, are at the heart of philanthropic motivation. While tax incentives can influence giving, they typically play a supporting role—not a leading one. Psychological and social drivers are deeply powerful motivators for giving that tax considerations cannot match.
That’s why we have always loved this article from the Greater Good Science Center and what it stands for, including our favorite points:
Generosity is truly human.
Generous behavior isn’t merely a social construct—it’s embedded in our evolutionary makeup. Researchers have found that species ranging from bees and chimpanzees to bats exhibit “prosocial” behaviors, suggesting that generosity evolved to enhance survival. In humans, acts of generosity light up the brain's reward pathways—similar to pleasurable experiences like eating or intimacy—highlighting that generosity is inherently satisfying.
Philanthropy benefits both the giver and the receiver.
Engaging in generous acts delivers tangible psychological and even physical benefits. Volunteering and offering support—whether time, goods, or emotional aid—have been linked to increased well-being, higher self-esteem, and even delayed mortality, particularly among older adults. Furthermore, many studies reported greater happiness when spending resources on others compared to oneself.
Charitable values can be nurtured.
It’s especially good news that acts of philanthropy are influenced by a blend of personal and social factors. Certainly empathy, humility, and moral values play a role. What’s more, cultural norms, expectations of reciprocity, and strong social networks motivate generosity, too. Unsurprisingly, people are more inclined to come to the aid of specific individuals rather than abstract causes, and generosity tends to be “contagious”—spreading through social groups and communities.
If you love supporting your favorite causes no matter what’s going on with the tax laws, you are in good company! At the MCF, we are honored to work with hundreds of families and individuals whose giving is anchored in genuine concern for others. This in turn helps create sustainable long-term positive impact in the community we all love.
Contact us at: email: info@cfmorton.org • phone: 309-291-0434
The Morton Community Foundation is honored to serve as a resource and sounding board as you build your charitable plans and pursue your philanthropic objectives for making a difference in the community. This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. Please consult your tax or legal advisor to learn how this information might apply to your own situation. Contact us at: email: info@cfmorton.org • phone: 309-291-0434
