Reviewed by: Callie Morrison
Give back to Birmingham now by supporting what you’re most passionate about [VIDEO]
Reading time: 4 minutes
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Birmingham has a reputation as a community that gives generously. Whether you’re volunteering, making donations or even starting your own fund, there are so many ways to make a difference.
Did you know you can make your donations simple, where you get immediate tax advantages? The Community Foundation of Greater Birmingham (CFGB), can help you, your family or your business set up a donor-advised fund started with only $15K. As a donor, you can make grant recommendations and charitable contributions, all while receiving immediate tax deductions. Individuals, families and organizations can all set up funds.
We recently met up with two young people who have started their own Donor-Advised Funds with CFGB to learn more about why they chose this way of giving back and what’s involved. Keep reading for all the details.
Starting a Donor-Advised Fund at the Community Foundation of Greater Birmingham
Bham Now’s own Kafui Sakyi-Addo chatted one wintry morning with M’Kayl Lewis and Spencer Lacey at City Walk Bham.
Lewis, a Dallas native, is a young professional here in Birmingham who has a heart of service. The idea of giving back runs deep, as evidenced in her volunteer work with nonprofits like the Rotaract Club of Birmingham and GirlSpring. Seeing Birmingham-Southern, her alma mater, on the brink of closing is what drove her to philanthropy.
Lacey is the VP at Jemison Investment Company and shares a fund with his family called the “Lacey Fam Jam” Fund. In 2018, he served on the steering committee for the CFGB’s 10-year strategic plan. He is on the Advisory Committee for the Instruments of Hope Unity Fund and serves as a Catalyst Fund Committee Member. In addition, he serves as the President-Elect of the Railroad Park Foundation Board.
Learn more about setting up a Donor-Advised Fund: call 205.327.3827 or email kmatalka@cfgbham.org for the Community Foundation of Greater Birmingham’s Philanthropic Services Team.
Bham Now: Can you tell us about your fund with the Community Foundation?
Lewis: “My fund got started last year, so it’s pretty new and young, but I’m excited to see where it goes.”
Lacey: “Our family office has a donor-advised fund at the Community Foundation that we’ve had for a number of years. We love the ease of use of the portal* at the Foundation.”
*The portal is an online hub where donors can easily request grants, see their fund balance and access fund statements and important documents.
Bham Now: What inspired you to create your fund?
Lewis: “What inspired me is, number one, to give back—it feels really good to be able to provide something to communities and organizations that need those funds to reach their goals and expand their reach.”
Lacey: “Our family had a private foundation for a while, but there was too much work to keep that going. So we elected to go with a donor-advised fund at the Community Foundation, because of the ease of use of how we can manage that, and it doesn’t require any fancy things like audits. And it’s very approachable and impactful.”
Bham Now: What advice would you give a young person who is thinking of starting their own fund?
Lewis: “Number one, partner with somebody you really trust, and that can help you and lead you down certain paths. Because what’s important is that you’re making sure your dollars are being used in a beneficial way.”
Lacey: “I would tell them to partner with the Community Foundation, especially if you want to get involved in a hands-on way. It’s an open organization—you can volunteer and help with site visits. You can help with the different things like the Catalyst Council (what is this?) or strategic planning and get involved in a meaningful way at a small organization.”
*The Catalyst Council is a group of innovative thinkers in Birmingham that fuel ideas for the CFGB’s Catalyst Funds—a new type of fund started around the organization’s 50th anniversary in 2009. These philanthropic venture funds seek out and respond to opportunities in the Greater Birmingham community and operate on the assumption that shared vision + pooled gifts = transformational change.
Curious to learn more about setting up a Donor-Advised Fund? Call 205.327.3827 or email kmatalka@cfgbham.org for the Community Foundation of Greater Birmingham’s Philanthropic Services Team.
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