Dr. Alan Ingram

Exploring Vital Issues for our Region

In June CFWM launched, Community Conversations: Exploring Vital Issues for our Region. This series of convenings is a result of the CFWM's commitment to community leadership and to provide an additional channel of information for its stakeholders.  The opening session held at Holyoke Community College, focused on Dropout Prevention and Recovery Strategies and included Dr. Alan Ingram, Superintendant of Springfield Public Schools on the panel.

A concerned audience of 45 put panelists to the test as they engaged in a robust conversation around the Pioneer Valley 's high school dropout dilemma. Some of the eye-opening statistics presented made it ever more clear, the challenges ahead. The event keynote, Susan Lange, VP, Commonwealth Corporation, mentioned the fact that nearly 10,000 youth drop out of school annually statewide, producing tremendous social and financial implications. Lower earnings potential, the increased likelihood of the need for social benefits, along with higher rates of incarceration, are a call for alarm. Moreover, the implications are greater for the Pioneer Valley, as the disparities are even more severe for this region.

However, along with the challenges, panelists shared successful experiences around prevention, intervention, and recovery. highlighting the work of the Massachusetts Graduation and Dropout Prevention and Recovery Commission, the success of the Hampden County Sheriff Department's anti-truancy program, recovery programs at MCDI and Greenfield Community College. Dr. Ingram the panel moderator, is confident that Springfield is poised for a turnaround, as works to improve its 10 (out of the State's 35 total) underperforming schools. Other panelists were: Dr. Dan O’Malley, Denise Hurst, Tim Sneed, and Shannon Coskran.

For more information contact Trevis Wray , Program Officer and Community Leadership Coordinator.

Dr. Dasco with financial advisor Jim Healey

Tax Tips for Converting Traditional to ROTH IRA

If you converted a traditional IRA to a Roth IRA in 2010, you may want to make a charitable gift before December 31, 2010.  An individual may be able to offset tax consequences of converting from a traditional IRA to a Roth IRA by establishing a donor advised fund. 

Although an outright charitable gift can be made to any nonprofit institution to offset taxable income, you may wish to donate to the Community Foundation to establish a donor advised fund so you can enjoy tax benefits immediately, but preserve the ability to send charitable gifts to your favorite organizations in the future.

This past August, Dr. Demosthenes Dasco, a neurosurgeon in the Greater Springfield area for 45 years and resident of Longmeadow, engaged in this option. After separate consultations with financial advisor, Jim Healey of Morgan Stanley Smith Barney, and his tax accountant, it was determined that the use of a donor advised fund would lessen his tax burden from the Roth conversion. In addition, the CFWM had the knowledge and background to efficiently implement the donor advised fund.

Dr. Dasco explained his reasons for establishing a donor advised fund. "After looking at the records and information provided to me by my financial advisor, I found the Community Foundation of Western Massachusetts to do a good job investing funds offered by members of the community. I feel it is worthwhile to use a donor advised fund to make donations for initiatives and projects being developed for the betterment of the community."

View Donor Advised Fund Facts

The Community Foundation of Western Massachusetts has entered the fifth and final year of its current strategic initiative, 5 & Under: Access to Opportunity for Children in Poverty.

 “5 & Under” was designed to enable impoverished families with children five years of age and younger to improve their lives through high-impact educational programs.

 The projects funded by this initiative seek to provide a range of opportunities to improve the economic future for the children in one or more of three ways:

1)       by enhancing the skills and education of their parents and teachers;

2)       by equipping parents with parenting skills; and

3)       by enriching the educational experience of the children by developing their cognitive, social, and emotional skills.

The initiative is closing out the final round of funding with grant awards to the following organizations:

Final year funding totals of $475,800 bring the total initiative to approximately $2.6 Million dollars. Hundreds have benefitted, particularly parents of children five and under, having received education, life skills, and other training and support to empower themselves to lead healthy productive lives.

CFWM is currently assessing a direction for its next strategic grant-making initiative targeted for Fall 2011.

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