Yes! You Can Leave a Legacy!

The Gulf Coast Community Foundation continues to make a positive difference on the Mississippi Gulf Coast because of supporters like you. Since 1989, GCCF has given more than $94 Million to hundreds of charitable causes such as education, child welfare, public health (including COVID-19 response), natural disaster recovery, arts and culture, and animal welfare. Our impact has been far-reaching, and our work is nowhere near being done.

We are proud to be YOUR community foundation and we think 2023 will be the best year yet! Stay tuned for new initiatives and partnerships that will be announced soon. We look forward to helping you put your passion into action at GCCF.

Sincerely,

Dr. Christen Duhé

President & Executive Director

Meet Matt Grice, Our Newest Board Treasurer and Champion for Change!

This month we welcome our newest Board member Matt Grice of Mississippi Power, who will serve as Treasurer, replacing longtime Board member and a former Board chair Greg Cronin. Grice comes highly celebrated by his former colleague Moses Feagin, who also stepped down from the Board this year as he moves to Alabama Power. Click here to see the current list of our Board members who generously serve to help meet our charitable mission according to donor passion!

To learn more about all of our dedicated Board Members, click here.

Here are two pieces of good news regarding federal and state taxes, as well as some financial planning tips, to make this new year even better.

As Federal income tax brackets rise to account for inflation, the current economy may result in a portion of 2023 income being taxed in a lower bracket. Deductible contributions to a “qualified” plan – such as an IRA that generates tax-deferred income - may have also result in a lower tax bracket. Additionally, some donations may also cause certain donors to benefit from a lower tax bracket (for example, when a retiree over 72 directs a required minimum distribution to a qualified charity like the Gulf Coast Community Foundation). Regarding the Mississippi income tax, this year the first $10,000 earned will not be taxed, and income over $10,000 will be taxed at 5%. This rate will decrease over the next three years to 4% for tax year 2026… click to read more

Did you know?

New in 2023, retirees in their 70s can include in your Qualified Charitable Distribution a one-time gift of up to $50,000 to a split-interest equity, such as a charitable remainder trust (CRT) or charitable gift annuity (CGA)? The $50,000 limit will be indexed for inflation, starting in 2024.

QCDs can be a great way to give tax-free proceeds from your traditional IRA directly to a charity of your choice…