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First Foundation Announces Art Initiative as Fundraiser for Charities
Like beauty, art is in the eye of the beholder. But its value as a tax efficient tool for donors, and its value as a fundraiser for charities, has been perfected by registered investment advisor, wealth manager and banking powerhouse, First Foundation, which announced its art initiative at The Classic Club in Palm Desert to representatives of nineteen valley charitable foundations.
Whether you choose to collect fine art, antiques, automobiles, stamps or sports memorabilia, it takes a broad array of specialized expertise and objective advice to successfully assemble or sell a collection, and to manage and protect it, in order to pass it on to future generations. First Foundation guides clients in making knowledgeable decisions about their assets, wherever their interests lie, and helps charitable donors to optimize the tax benefits of a donation while maximizing its impact on a charity.
Doug Freeman and Dave Rahn, President and COO First Foundation Bank
“Art runs in my DNA,” said banker/artist Dave Rahn, “It began when my wife gave me art lessons with a well known artist. Figuring out how and what to collect, catalog, preserve and insure can be more complicated than you think. And, like it or not, the IRS is your partner in any transition of ownership, especially right now because of new, less favorable tax laws effective in January.”
Donors must respect a charity, trust and perceive a level of competence there, to consider a gift of valuable art. They want to know that the charity has a clear vision of what it’s doing, and a strong brand that communicates a culture of smart stewardship. And the emotional trigger of the human impact is not to be ignored while experts help the donor navigate the labyrinth of ever changing tax laws.
“Charities must connect the head, the heart and the wallet to show donors the great satisfaction that comes from passing on art as a legacy,” said Doug Freeman, nationally known and respected as a planned giving strategist. Freeman will be keynote speaker at the October 19th annual desert meeting of the Association of Fundraising Professionals, and will also conduct a good governance workshop for foundation directors at the event.
Art services provided by First Foundation include art advisory, collection management, art financing, art insurance, appraisals, estate planning, tax planning/1031 exchanges, philanthropy, art investing and education. To learn more, please contact Stu Bailey or Valerie Van Winkle at 760-391-6911.
