Featured in the Community Foundation's Webinar, Navigating the New Landscape: What the "One Big Beautiful Bill Act" Means for Philanthropy and Planning
As the dust settles on the latest tax legislation, financial advisors and donors alike are beginning to unpack its implications. Devin Johnson, CPA, CFP® a seasoned tax strategist, recently shed light on how the bill reshapes charitable giving and tax planning for millions of Americans.
Against a backdrop of ongoing economic and legislative shifts, you’ll want to tap every tool at your disposal to advise your philanthropic clients. Indeed, the One Big Beautiful Bill Act (OBBBA) is motivating many attorneys, CPAs, and financial advisors to zero in on charitable planning techniques that can deliver tax benefits and achieve the community impact that’s so important to their clients.
In a powerful new collaboration, the Community Foundation for Northern Virginia (CFNOVA) and the We’re Good Podcast have joined forces to amplify the voices of changemakers across the region. This partnership is more than a media initiative—it’s a celebration of the everyday brilliance of individuals and organizations working to build a more inclusive, compassionate, and resilient Northern Virginia.
August is National Make-A-Will Month, which means it’s the perfect time to review estate plans with your clients. As you meet with your clients to update wills, trusts, and beneficiary designations, remember that the team at the Community Foundation is here to help ensure that your client’s philanthropic intentions are well-documented and structured in the most effective ways, both from a tax perspective and through the lens of community impact.
by James Head, Tax Managing Director — National Tax Office (Private Client Services) at BDO USA
Featured in the Community Foundation's Webinar, Navigating the New Landscape: What the "One Big Beautiful Bill Act" Means for Philanthropy and Planning
As we move through the second-half of 2025, the philanthropic landscape is shifting in response to new tax legislation. While the recent One Big Beautiful Bill Act has cut or eliminated certain income tax credits and deductions for individuals, it has also made permanent many provisions from the 2017 Tax Cuts and Jobs Act (TCJA)—offering taxpayers much-needed certainty in the Federal tax area. This certainty, however, does not necessarily extend to charities, which now seem to face increased doubts as to the future of charitable giving amid the recent tax law changes.
The Community Foundation for Northern Virginia hosted a virtual lunch session for donors and advisors on July 24 focused on the potential impact of recent federal policy changes on charitable giving and estate planning. The session featured an overview of the “One Big Beautiful Bill Act,” offering both policy and practical perspectives.
As the Community Foundation for Northern Virginia turns the page to a new fiscal year, it also begins a new chapter in leadership—one filled with gratitude, optimism, and a shared commitment to community.
On July 1, 2025, Harry Klaff officially stepped into the role of Chair of the Board of Directors, bringing with him decades of leadership experience and a deep passion for service. He follows in the footsteps of Bob Kipps, who now serves as Immediate Past Chair after two transformative years at the helm.
Standing at the forefront of one of the most significant financial transitions in history, we are helping our clients navigate the unprecedented wealth transfer of an estimated $84 trillion from baby boomers and the silent generation to their descendants over the next two decades. This historic shift presents a unique opportunity to discuss charitable giving as part of our clients’ long-term plans. As our clients retire and shape their legacies, we encourage them to pay close attention to IRAs and other retirement assets as key components of philanthropy.
In a powerful episode of the We’re Good podcast, the Community Foundation for Northern Virginia (CFNOVA) takes center stage as a philanthropic changemaker driving meaningful impacts across the region. Host Lee Ann Necessary Brownlee sits down with CFNOVA President & CEO, Renée Byng Yancey and fund partner, Benton Fisher to explore how the Foundation responds to both urgent crises and long-term community needs.
The Community Foundation Invests in the Next Generation of Leaders through Education and Opportunity
The Community Foundation for Northern Virginia has awarded over $350,000 in scholarships to more than 100 students for the 2025-2026 school year!
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