Summer 2024 GPC Newsletter

Whenever I Hear the Song of a Bird ...

David Bonner, Sr. Mgr, Gift Planning Services

I love the early morning springtime song of robins from my backyard in Lehi, Utah. Even more beautiful to me is the sweetly descending and slowing song of canyon wrens as I explore my favorite canyons of Southern Utah.

Birdsong fills me with joy and hope, and gratitude for our beautiful world and the Creator.

After the storms and cold of winter, spring is the promise and the celebration of better days ahead. Spring is the season of renewal, growth, and change. Spring ushers in new opportunities. Spring encourages me to review my personal and professional life and determine those things I can do better in the coming months.

I hope that during this season of change that we all review the assistance we render to others. How can I more expertly support my clients? How can I help my clients recognize opportunities to better look after their families and prepare children and grandchildren to be good stewards of every type of abundance? What encouragement and wise counsel can I provide those who trust me with their patronage?

I am grateful to you for the magnificent service you provide your clients as you help them navigate the intricacies of estate and financial planning. You render much needed aid that blesses existing and future individuals, families, and charitable institutions. Planning is truly an expression of love for heirs and other beneficiaries and demonstrates our faith in their ability to accomplish wonderful things. You are helping to create a better future for all. Thank you.

May this be a joyous and fruitful season for you and those you serve.

Kindest regards,

David

Whenever I hear the song of a bird

Or look at the blue, blue sky,

Whenever I feel the rain on my face

Or the wind as it rushes by,

Whenever I touch a velvet rose

Or walk by our lilac tree,

I’m glad that I live in this beautiful world

Heav’nly Father created for me.

My Heavenly Father Loves Me

Words and music: Clara W. McMaster  

Charitable Giving That Makes A Difference in the World

Ryan Gonda, Trust Officer, DTC  

Every act of giving has the power to transform lives, teach generosity and inspire gratitude. For more than 50 years, Deseret Trust Company has administered charitable gifts that help donors give in smart and efficient ways to accomplish their philanthropic goals. Deseret Trust works in partnership with Philanthropies to assist individuals, families, and their advisors with gifts that help accelerate the work of The Church of Jesus Christ of Latter-day Saints, its affiliated entities, and other charitable organizations. Deseret Trust is a corporate fiduciary, offering professional gift administration of charitable remainder trusts, charitable gift annuities, and donor advised funds. 

Donor-Advised Fund – A Charitable Giving Account

A Deseret Trust donor advised fund (DAF) is like a charitable giving account that allows individuals and families to conveniently manage their charitable giving from a single fund to support the Church and its institutions and give up to 60 percent to other charities. The donor completes an application and makes a minimum initial contribution of $5,000 of cash, securities, or business interests. Contributions receive an immediate charitable income tax deduction. Additional contributions may be made anytime. The donor and other advisors to the fund use an online dashboard to make recommendations as to the investment option for the fund and what charitable causes they wish to support. Some donors make regular contributions and distribution recommendations, while others fund their DAF with a single, large contribution and recommend distributions over time.

Donors can use a DAF to:

• Pay tithing or fast offerings to the Church
• Support the Church’s missionary work
• Contribute to the Church’s General Fund and Humanitarian Aid Fund
• Provide scholarship and other support to Brigham Young University, BYU-Idaho, BYU-Hawaii, BYU-Pathway Worldwide, and Ensign College
• Support other IRS-approved 501(c)(3) charitable organizations whose purpose and mission are compatible with the religious, educational, or charitable purposes, teachings, or practices of the Church

Deseret Trust Company online DAF application: www.deserettrust.com/daf-setup

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Glen Evans Spotlight

Donor Liaison, Philanthropies

Hello, I am a recovering banker. Did you know that is possible? Well, I have worked for 17 years as a Major Gift Officer in the Philanthropies Dept. So yes, it is possible. Read on.

I tease a bit but, in reality, my banking career was awesome and 100% focused on Institutional Trust. I earned my Series 63, 65 and Series 7 stock brokerage license, my insurance license, and a CFP. That’s a lot of book learning. But the most valuable learning has been through experience. In the last 10 years of my career, I worked for JP Morgan Investment Advisors in Kentucky and served clients located throughout Kentucky and West Va – most of whom were large ERISA qualified retirement plans (Profit Sharing, 401k, Money Purchase plans, Stock Purchase plans etc.). 

After 21 years in the banking industry, my wife Rosemary and our 3 kids took a bold move to cut our income in half and join the Philanthropies Dept. That decision made no sense financially speaking but we sensed that we were passing through a rare moment of endowed courage (it didn’t seem to come from us). So we looked then leapt, with a little uncertainty, from Kentucky to Utah in 2007 to begin what has been a thrilling and fulfilling time working in the Philanthropies Dept. We are so grateful that we did. Turns out my banking skills were transferrable!

Since then, one of my great joys is to continue my association with you - financial advisors, attorneys, CPA’s and similar trusted professionals. I greatly admire who you are and what you do to demystify a variety of complex financial matters for your clients. It is great work that you do, and I say this because I have seen it firsthand. Most of my banking clients were business owners, smart people, risk takers. Yet, many lacked a solid and disciplined foundation from which to work when they approached personal or business financial decisions. It became evident that the expertise that the adviser community has is very much needed, perhaps most needed among those clients who know most. Among my clients were bright professors, doctors, lawyers, business owners, leaders, etc who needed help with the basics of wise financial stewardship, inheritance planning, business succession, and investment and retirement planning, etc. So please never doubt the value of what you do. It is, in my view, very close to transformational. Thank you for hanging in there to help people (including some of your smartest clients who may not think that they need your help) to navigate our complex world today.

(Read more)

BYU-Hawaii

BYU–Hawaii’s mission is unique, even within the Church Educational System. In addition to integrating spiritual and secular learning, the university focuses on serving students from Oceania and the Asian Rim—areas where the Church is young and where higher education is out of reach for many Latter-day Saints. Many students come to BYU–Hawaii from challenging socioeconomic circumstances. Some come as firstgeneration college students. Others come as recent converts to the Church. At BYU–Hawaii, they receive a quality education that instructs their minds, fortifies their faith, and refines their characters. They are prepared not only to be successful in their careers but also to be lifelong disciples of Jesus Christ. They help build the kingdom of God as they become leaders in their families, communities, and congregations throughout the world.

Visit here to learn more about BYU-Hawaii, the IWork Program, and how donors can further this great work.

Visits with Gift Planning Services

As we travel, Gift Planning Services (GPS)  loves visiting with our GPC friends. This gives us a chance to get to know you better, share information about Philanthropies, and discuss what complimentary services GPS offers to you and your clients. If you would like a brief visit with a GPS team member, either in-person or virtually, please let David Smith know at (801) 356-5251 or davidj_smith@churchofjesuschrist.org.  

Informational Videos

We have created numerous informational videos that can be used easily to introduce and even educate individuals about segments of gift planning. They are easily available in the Gift Planning section of the Philanthropies website. One example is the following:

Donor Advised Funds

This video gives you a one minute guide to how Donor Advised Funds work.  

PS: Don’t forget to add giftplanning@ChurchofJesusChrist.org to your safe senders list.

PPS: If you have friends or colleagues who you think would benefit from receiving this newsletter or other Gift Planning Council correspondence, please contact David Smith at davidj_smith@ChurchofJesusChrist.org or 801-356-5251.