Early bird planning for year-end, major financial milestones, redefining “big” inheritances, and MCF hits a new mark
Hello from the MCF!
As summer winds down and Fall approaches (Pumpkin Festival Sep 16-19 in Morton), it's a natural time to look ahead. Whether you're thinking about year-end charitable giving, celebrating an important financial milestone, or considering the legacy you'd like to leave for future generations of Mortonites, a little planning today can make a big difference tomorrow. The Morton Community Foundation is always happy to share trends and practical ideas to help you get ahead of the busy season—and so much more related to charitable giving!
Early birds, "bunching," and planning for year-end
Year-end giving often works best when planning starts long before the holidays. Learn why now is the perfect time to review your charitable plans, explore the benefits of "bunching" charitable gifts, and consider how your donor-advised fund can help you maximize both your impact and potential tax benefits. Read More
From success to significance: Opportunities after a major financial milestone
Major life events often inspire us to think differently about what comes next. Whether you've sold a business, received an inheritance, retired, or crossed another important milestone, the Morton Community Foundation can help you discover how thoughtful charitable planning can translate financial success into lasting community impact. Read More
A "big" inheritance may not be all financial
The Great Wealth Transfer we’ve all been watching is about so much more than passing along assets to your heirs. The MCF team welcomes conversations about generosity, shared family philanthropy, and thoughtful estate planning to help ensure that your values—and not just your wealth—continue to make a difference for generations to come. Read More
Celebrating a Milestone: MCF's Endowment Reaches $21.4 Million
We're excited to share a major milestone: the Morton Community Foundation's endowed funds have now reached $21.4 million, with total assets under management at $23.6 million as of June 30, 2026. Read on to see what this means for our community's future... and why the best is likely still ahead. Read More
As always, thank you for allowing the Morton Community Foundation to be part of your charitable giving journey. We love our community and are honored to help you turn today's generosity into tomorrow's lasting impact. Please reach out anytime!
Scott Witzig, Executive Director
Darcy Roecker, Administrative Manager
Contact us at: email: info@mortoncommunityfoundation.org • phone: 309-291-0434
Early birds, “bunching,” and planning for year-end
When “back to school” enters your vocabulary, you know the rest of the year will go by in a flash! That’s why it’s important to check in on your charitable goals for 2026 before fall gets into full swing. Otherwise, you may find yourself scrambling to synchronize tax planning, financial planning, and gifts to favorite nonprofits.
In particular, a technique called “bunching” is important to consider as you get a jump on your year-end charitable giving plans.
Even just a few years ago, not many people had heard of “bunching.” That’s because the standard deduction (which itself has an interesting history) under the Internal Revenue Code’s income tax rules was much lower than it is now. Many donors easily met the criteria to itemize deductions—including their charitable contributions—on their income tax returns. That changed after the Tax Cuts and Jobs Act of 2017 significantly increased the standard deduction starting in 2018.
Further changes to the charitable deduction rules under 2025’s One Big Beautiful Bill Act increased the complexity of charitable deduction thresholds because the new law, effective for 2026, imposes a 0.5% of adjusted gross income (AGI) floor for itemized charitable deductions and, for taxpayers in the highest tax bracket, a 35% cap on the tax benefit of those deductions. All of this means that thoughtful charitable planning is more important than ever.
What you need to know is that "bunching" charitable gifts may be useful to you, and it’s something you ought to discuss with your tax and financial advisors as soon as you can. The essence of bunching is that, rather than making similar-sized charitable donations every year, you would combine two or more years of charitable gifts up front into a single tax year. The reason this is useful is because by concentrating gifts into one year, you may be able to accumulate enough deductions to make itemizing more beneficial than claiming the standard deduction and achieve a greater tax benefit than you would by making smaller annual gifts and taking the standard deduction.
A donor-advised fund at the Morton Community Foundation, or elsewhere, makes bunching especially attractive. For example, you can contribute several years' worth of charitable gifts to your donor-advised fund this year, generally be eligible to claim an income tax deduction for the current year, subject to applicable limitations, and then recommend grants to your favorite nonprofits over several future years. This allows your favorite organizations to continue receiving steady support while simultaneously maximizing your own tax benefits.
Remember, too, that your donor-advised fund accepts appreciated securities, which may provide additional tax advantages in the right circumstances. That’s because you may be able to avoid capital gains tax on the highly appreciated stock you contribute to your donor-advised fund.
The takeaway here is that now is the time to begin conversations with your tax and financial advisors about bunching and about your charitable plans in general. Please loop in the Morton Community Foundation team! We are honored to serve as a sounding board as you carry out your charitable wishes. The MCF is your home for charitable giving, and we always welcome a conversation!
Contact us at: email: info@mortoncommunityfoundation.org • phone: 309-291-0434
From success to significance: Opportunities after a major financial milestone
Life’s big milestones cover a lot of ground! Some are deeply personal, such as welcoming a grandchild, retiring after a long career, or celebrating a significant birthday. Other milestones are financial: selling a business, receiving an inheritance, exercising stock options, selling a valuable piece of real estate, or realizing a financial gain following an initial public offering involving stock you’ve owned for years.
Whether financial or personal, major milestone moments often bring a sense of accomplishment. They can also bring something else: an opportunity to pause and reflect—and be smart about the next big move. For many people, that's when the questions start changing. At some point along the way, instead of asking themselves, "What's my next big thing?" they shift to "What matters most?" and "What kind of impact do I want to leave behind?" That's one reason so many charitable conversations begin after a significant financial event, which is why significant financial events often lead to high-profile philanthropy announcements, as recently occurred in connection with the sale of the Seattle Seahawks.
Many people in this situation find they have the time and flexibility to think more intentionally about the causes, organizations, and communities that have shaped their lives—especially now that they have the financial resources to act on their intentions. Some want to express gratitude for opportunities they've received. Others hope to create opportunities for future generations or honor family members. Still others simply want to make sure the success they've enjoyed continues benefiting others for years to come.
As you look ahead in your life and anticipate big milestones, consider taking steps early so that you’re prepared to implement a philanthropy plan. For example, here are a few things you can do even years before a significant liquidity event:
Consider establishing a donor-advised fund at the Morton Community Foundation so you can get familiar with the mechanics and the resources available at the MCF. You’ll be able to set aside charitable dollars while taking the time to thoughtfully consider which organizations you would like to support over the months and years ahead, especially following a financial transaction.
In addition to your donor-advised fund, you might also want to establish one or more designated funds to provide lasting support for the specific organizations you care about. These funds can provide support during your lifetime or receive an estate gift under your will or trust.
Some people also establish a field-of-interest fund at the Morton Community Foundation as part of their charitable giving “portfolio” to address particular community needs, as well as unrestricted funds that allow the MCF to respond to the area's greatest opportunities for generations to come.
Remember, in the case of private business interests, from a capital gains perspective, you may be far better off establishing charitable arrangements well before a transaction is underway. Please consult your tax advisors and the Morton Community Foundation team as you think about an exit plan for your closely held business. Of course, if you’ve recently experienced a liquidity event and haven’t yet established a charitable plan, it is not too late!
Whether you’ve already experienced a significant financial event—or expect one in the future—we'd love to talk. The MCF can help you explore charitable options that reflect your values, support the causes you care about, and create a legacy that extends far beyond a single moment of success.
Contact us at: email: info@mortoncommunityfoundation.org • phone: 309-291-0434
A “big” inheritance may not be all financial
Welcome to the Great Wealth Transfer! This much-cited era, happening right now, is reportedly the time when trillions of dollars will pass from one generation to the next over the coming decades in various forms, ranging from cash and stock to real estate and business interests.
Understandably, most conversations and commentary about this transfer focus on the assets themselves. Who will inherit the family business? What will happen to the investment portfolio? How should the estate plan be structured? Naturally, those are important questions! But many families are beginning to ask something deeper: "What values do we want to pass along, too?"
A recent Kiplingerarticle exploring the Great Wealth Transfer makes the point that the strongest family legacies are built not simply by transferring assets, but by intentionally passing along values of generosity through shared charitable experiences and conversations. It encourages families to involve younger generations in philanthropy early, making giving a collaborative, multigenerational experience rather than a one-time financial transaction.
For many people, philanthropy is one of those values. If you’re among them, here’s food for thought:
A charitable legacy isn't simply about the gifts that are made after you're gone. It's also about helping your children and grandchildren understand why giving has been important throughout your life. In many ways, the conversations, traditions, and shared decisions surrounding philanthropy can become just as meaningful as the financial inheritance itself.
Now is a great time to begin mapping out your legacy if you’ve not done so already. For starters, August is widely recognized as Make-A-Will Month, in large part because the downtime of late summer offers a perfect window to address open estate planning issues.
According to the latest Giving USAreport, charitable bequests totaled more than $62 billion in 2025, increasing nearly 20% over the previous year. Bequests were the fastest-growing source of charitable giving, underscoring how important estate gifts have become to nonprofit organizations and the communities they serve.
A charitable bequest can be surprisingly simple. You might leave a specific dollar amount or a percentage of your estate to your donor-advised fund, or designate another type of charitable fund at the Morton Community Foundation, to continue supporting the organizations and community priorities that matter most to you.
For example, by naming your children or other loved ones as successor advisors of your donor-advised fund at the MCF, you're inviting them to continue the family's tradition of generosity by recommending grants to the organizations and causes they believe will make a difference. This opportunity is itself a meaningful inheritance!
For individuals and couples with especially large estates, charitable planning also may reduce the federal estate tax ultimately borne by the estate, helping preserve more of the remaining assets for heirs. This consideration applies to relatively few families because the federal estate tax exemption is $15 million per individual in 2026, but when it does apply, it really matters because gifts and bequests to qualified charities generally are deductible in determining the taxable estate. Your attorney, CPA, and financial advisor can help determine whether estate tax planning is relevant to your particular circumstances.
Even when estate taxes are not a concern, a charitable bequest can still become one of the most meaningful gifts you make. You may, of course, provide for family members while also supporting the causes and organizations that have mattered throughout your life.
Estate plans are designed to transfer wealth. A charitable legacy has the power to transfer something even more lasting. The Morton Community Foundation would be honored to work with you and your estate planning advisors to arrange charitable bequests, establish a donor-advised or other charitable fund, and build a legacy your family can continue long into the future.
Contact us at: email: info@mortoncommunityfoundation.org • phone: 309-291-0434
Celebrating a Milestone: MCF's Endowment Reaches $21.4 Million
We're thrilled to share some exciting news: as of June 30, 2026, the total endowed funds of the Morton Community Foundation now stand at $21.4 million, with total assets under management reaching $23.6 million.
This milestone represents the generosity and vision of everyone who has created or contributed to a fund at MCF... whether to support a cause close to your heart, honor someone special, or carry forward the memory of a loved one. When I started at MCF in 2007, our assets under management were around $782,000. I remember wondering how we'd ever grow that to even $1 million. Today, thanks to donors like you, we've grown well beyond what I imagined possible.
Here's what makes this especially exciting: MCF calculates annual grants using a four-year rolling average of our endowment, times 5%. At $21.4 million, that means that four years from now, if nothing else changes, we can look forward to distributing roughly $1 million in grants each year... and that number will likely climb even higher as the endowment continues to grow.
But as proud as we are of this milestone, there's still so much more to be done. Many wonderful nonprofits, schools, and causes in our community don't yet have an endowed fund providing them with reliable, year-after-year support. Think of high school departments like science, math, music, or literature... or smaller nonprofits doing meaningful work without a dedicated funding source behind them. Any charity or school group can apply for one of MCF's community grants, but those dollars are limited... last year, we awarded $121,310 in community grants, split among 25 to 30 recipients, with individual grants ranging anywhere from $500 up to a maximum of $10,000. That's meaningful support, but it's a fraction of what an endowed fund can provide, year after year, forever.
That's the real beauty of an endowed fund: unlike a one-time gift, an endowment is permanent. When you give to an endowed fund at MCF, your gift is invested and only a portion of the earnings is granted out each year... which means your generosity keeps supporting your favorite cause forever. It's a gift that never stops giving.
So if there's a nonprofit, a school program, or a cause you care about that doesn't yet have that kind of lasting support, we'd love to talk with you about it. Reach out, and let's explore your ideas together... because as far as we've come, the best may still be ahead.
Contact us at: email: info@mortoncommunityfoundation.org • phone: 309-291-0434
The team at the MCF 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.
