FA L L 2 0 1 7 3 Noncash assets yield tax and charitable benefits Americansarefamouslygenerous, donatingarecord$390.05billionin 2016.Inadditiontoreportingincreased givingoverthepastfewyears,financial publicationsfromTheWallStreet JournaltoTheEconomistarealso describingafascinatingnewgiving trendthatoffersbothcharitableandtax benefits:Donorsandadvisorsaregiving complex,noncashassetstocharity. Theterm“complexassets”refersto abroadarrayofilliquidpropertyand commodities,suchascommercialreal estate,soybeans,andevenoilwellsand thecrudetheyproduce. Whytheincreasinginterest?The Federal Reserve reports that 62 percent of American household wealth is in complex assets, with only 7 percent in cash and 31 percent in stocks, bonds and other financial assets. Withoutataxstrategyforcomplex assets,families — particularlythose liquidatingtheirestates — mayhave significantcapitalgainsandothertax burdens.Donatingcomplexassetstoa communityfoundationcanhelp. Thisstrategy hasparticularappeal to entrepreneurslooking fortaxbenefits while alsomaintainingtheirown liquidity.Recently,Foundation staff workedwith a family on itsdonation of tractsof landin Colorado. Withthe helpof a thirdparty,the family sold the landandaddedthe proceedstoits grant-making coffers. ThelargestgifttheFoundationever received — $50millionfromtheCharles E.Kaufmanestate — includedmineral rightsandtimber.TheKaufmanFund nowawards$1.8millionannuallyto innovativescienceandtechnology researchers.Thoughnotrealassets per se,donationsofprivatelyheldstock arealsoanoption. Asilliquidassetdonationscontinue togrowinpopularity,theFoundation willcontinuetogrowitscapacity toacceptthemasfundstosupport charitable missions. W hat will it take to make Pittsburgh more livable, not just for some but for all?That’s the question President and CEO Maxwell King asked at the Greater Pittsburgh Nonprofit Partnership Summit held Oct. 5–6 at the David L. Lawrence Convention Center. King introduced the audience to 100 Percent Pittsburgh, the Foundation’s organizing principle. “The opportunity gap has grown in quality education, economic development, affordable housing, job opportunities and neighborhood safety,” King said. “At least 30 percent of our friends and neighbors are largely left out of participating in Pittsburgh’s improved economy.That is, simply, unacceptable.” Sixty percent of discretionary grantmaking is directed to 100 Percent Pittsburgh–related programs focused on helping vulnerable populations access the city’s new prosperity, particularly those in the juvenile justice system and single women raising children. In addition, ExecutiveVice President Yvonne Maher led a session on planned giving, and SeniorVice President of Finance and Investments Jonathan Brelsford moderated a session on developing a leadership pipeline for organizations’ boards of directors. Director of Public Policy and Advocacy Khalif Ali led a session on legislative redistricting reform in Pennsylvania. ThesummitalsofeaturedDr.JimJohnsonfromtheUniversityofNorthCarolina’s Kenan-FlaglerBusinessSchool,whodetailedthe“disruptivedemographics” affectingthecountryasminoritycommunitiesgrow,andDr.BarryKerzin, personalphysiciantothecurrentDalaiLamaandaprofessorofTibetanstudies. PITTSBURGH FOUNDATION MESSAGE AT REGIONAL NONPROFIT SUMMIT: For the city to thrive in the future, 100 percent of its residents need economic opportunity