Donor Spotlight – Frank Casella
Advancing the Mission of Nativity Prep through Service and Giving
Frank Casella is passionate about a few things in life – his family, golf, and Nativity Prep. A retired sales executive, Frank exudes excitement and enthusiasm when he talks about Nativity Prep. With a personality that calls those around him to act, Frank is a valued member of the Nativity Prep community. Frank brings an infectious can-do attitude to everything he volunteers for here at Nativity.
Frank first became aware of Nativity about six years ago. Newly retired, he knew he wouldn’t have trouble staying busy, but he was looking for ways to share his experiences to help others. It was Kenny Jones, a long-time Nativity supporter, that brought him to Nativity. After meeting with Maria Power, AMIGOS Program Director Frank signed up to be a mentor and Nativity gained a valuable friend and supporter.
In addition to mentoring Frank also serves on the Board of Trustees, as the Advancement Committee Chair, and is a valuable member of the Golf Committee. Our annual golf tournament raises critical funds for our students and Frank’s expertise in running tournaments has been much appreciated.
What he loves about NPA: “When you come to campus you see that everyone is having fun!”
Why he gives: “I’m proud to be able to provide a deserving student with an educational experience that shows them not only how to dream big, but also help them see themselves in a different way.”
How he gives: “A Donor Advised Fund is the perfect vehicle for us to give,” says Frank. “We fund the account with highly appreciated assets, take the tax deduction and then have some time to decide where to give. The best part is, the money is already dedicated to giving so the fun part is choosing where to send it.”
What is a Donor Advised Fund? A donor-advised fund (DAF) is an investment account where 100% of the proceeds are legally required to go to charitable organizations. Investors receive a tax deduction when they contribute to a DAF, but the funds can be distributed later. Often DAFs are funded with appreciated assets to avoid paying capital gains taxes or when someone has a large windfall to maximize the tax deduction for a given year while allowing the donor to spread out charitable contributions over several years.
Individuals, couples, families, companies, and trusts can all have a donor-advised fund. The fund can make grants to all publicly-recognized charitable organizations.
For donors seeking a way to maximize charitable donations from appreciated assets a DAF may be a great option. Donors should work with a qualified financial planner and tax advisor to confirm that a DAF will provide the expected results both with respect to the income tax deduction as well as the administration of the DAF.
