The document provides an overview of the JWB FY 12/13 budget, including major sources of revenue, budget elements, and investments. The largest source of revenue is ad valorem taxes at 68% of all funds. The budget is divided among programs to Learn and Succeed ($19.6M), be Stable and Nurturing ($19.2M), and stay Safe and Supportive ($4.6M). Major investments include school readiness, out of school time programs, family services, mental health services, and neighborhood family centers. Administration accounts for 8.2% of the total budget.
Here is a fabulous tool you might find useful for your individual tax return preparation.
This document contains key numbers and tax rate tables for 2011 and 2012.
Anderson Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Jeff is 75 and Theresa is 72. Jeff recently retired from an executive position in a public company. As a result of his retirement he exercised over $45M in stock options and has 5 more years of deferred compensation payments. Jeff has also sold his 50% interest in his Corporation and the note payments are providing significant income for the next 9 years.
Jeff and Theresa have annual living expense desires of $725,000, with the available income to more than meet this need. Jeff’s deferred compensation payments average more than $2M/yr. for the next 5 years; his annual pension payments are $660k/yr. (inflating); and he also has note payments totaling $360k/yr. for the next 9 years from the buyout of his Corporation interests. These sources of income are in addition to an investment portfolio that generates more than $1.7M/yr. in income and various oil/gas ventures that generate over $100k/yr. in income. With annual income totaling over $5M/yr. for the family, they have the luxury of accumulating a very significant cash flow surplus each year.
Learn more at www.inknowvision.com
The section of Solutions for America discusses the President's budget, the rise of welfare and the collapse of marriage, among other things. It offers several solutions for fixing these broken institutions.
Here is a fabulous tool you might find useful for your individual tax return preparation.
This document contains key numbers and tax rate tables for 2011 and 2012.
Anderson Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Jeff is 75 and Theresa is 72. Jeff recently retired from an executive position in a public company. As a result of his retirement he exercised over $45M in stock options and has 5 more years of deferred compensation payments. Jeff has also sold his 50% interest in his Corporation and the note payments are providing significant income for the next 9 years.
Jeff and Theresa have annual living expense desires of $725,000, with the available income to more than meet this need. Jeff’s deferred compensation payments average more than $2M/yr. for the next 5 years; his annual pension payments are $660k/yr. (inflating); and he also has note payments totaling $360k/yr. for the next 9 years from the buyout of his Corporation interests. These sources of income are in addition to an investment portfolio that generates more than $1.7M/yr. in income and various oil/gas ventures that generate over $100k/yr. in income. With annual income totaling over $5M/yr. for the family, they have the luxury of accumulating a very significant cash flow surplus each year.
Learn more at www.inknowvision.com
The section of Solutions for America discusses the President's budget, the rise of welfare and the collapse of marriage, among other things. It offers several solutions for fixing these broken institutions.
Carter Family Wealth Goal Achiever - InKnowVision Advanced Estate Planning InKnowVision
Jerry and Susan Carter are both 63. They own and operate a very profitable manufacturing business in a small town. Jerry and Susan spend about $650,000 a year, giving generously to family ($200,000/yr.) and their favorite charitable causes ($150,000/yr.). Although the business provides significant taxable income of over $5M a year, Jerry and Susan have been re-investing excess cash back into the business to keep it thriving through the latest recession. With assets totaling over $60M, a growing business and an income tax bill surpassing $2M/yr., their estate tax and income tax exposure is quickly increasing.
Learn more at www.inknowvision.com
Jackson Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Chris is 68 and Beth is 59. Chris has recently just retired from an executive position in a public company. They have always led a relatively simple and conservative lifestyle and as a result have built up a very significant, and liquid, net worth.
As part of Chris’ retirement package, he has an annual pension payment of approximately $360,000 (inflating). The pension alone is enough to cover their annual living expenses of $230,000.
As a result, they have a large annual cash flow surplus created by the $400k in annual dividends from their equity portfolios and their tax-exempt income from municipal bond portfolios totaling $1.1M.
The primary planning goals were to:
Make sure that they have sufficient funds to live on for the rest of their lives (approximately $230,000 after taxes and gifts).
Provide for the financial security of the surviving spouse.
Create an inheritance for their children which protects them from any potential future creditors and/or predators.
Provide a charitable gift at death as long as it doesn’t greatly diminish the amount they pass to their heirs.
Eliminate or reduce estate taxes.
Jackson Family Wealth Goal Achiever - Advanced Estate PlanningInKnowVision
Chris is 68 and Beth is 59. Chris has recently just retired from an executive position in a public company. They have always led a relatively simple and conservative lifestyle and as a result have built up a very significant, and liquid, net worth. As part of Chris’s retirement package, he has an annual pension payment of approx. $360,000 (inflating). The pension alone is enough to cover their annual living expenses of $230,000. As a result, they have a large annual cash flow surplus created by the $400k in annual dividends from their equity portfolios and their tax-exempt income from municipal bond portfolios totaling $1.1M.
The main planning objective is to take advantage of the lifetime gifting exemption ($5M each) while it is still available. This is due in part to the large concentration of conservatively invested assets that are growing inside Chris and Beth’s estate. In addition, they are looking to preserve enough assets in order to provide sufficient cash flow that will ensure a comfortable lifestyle with flexibility during retirement.
Learn more at www.inknowvision.com
InKnowVision October 2013 Case Study - Lewis FWGAInKnowVision
Duncan and Tina are both 65. They live a comfortable lifestyle, spending about $1,600,000 a year after taxes and gifting about $2,000,000 a year to their family foundation. With assets worth approximately $62M and annual income of over $7M, they currently pay just over $2M a year in income taxes and have an increasing estate tax and ongoing income tax exposure.
The primary planning goals are to:
-Make sure that they have sufficient funds to live on for the rest of their lives (approx. $1,600,000/yr. after taxes and gifts).
-Assure that Duncan's, Inc. does not have to be liquidated as a result of their death.
-Provide a successful transition of the business to their son, Jason, while ensuring an equal inheritance for their son, Jeremy. They would like to leave 50% of their estate to Jason & Jeremy and another 25% to their grandchildren and other family members.
-They wish to continue annual giving to their family foundation and ultimately leave 25% of their estate to the foundation at death.
-Make sure the company buy/sell agreement accurately reflects the wishes of the family owners in the most tax efficient manner possible.
-Eliminate or reduce estate taxes.
Using Life Insurance in Charitable PlanningRussell James
These slides are taken from the graduate financial planning course "Introduction to Charitable Planning" at Texas Tech University. Details at www.EncourageGenerosity.com
Importance of understanding your finances, your income and understanding your pay stub are covered in Part 1 of the of the 6-part Money Matters series created by the Athens-Clarke County Library. Money Matters is part of Smart investing @ your library®, and is brought to you by a joint grant from the American Library Association and FINRA, the Financial Regulatory Authority Foundation.
Carter Family Wealth Goal Achiever - InKnowVision Advanced Estate Planning InKnowVision
Jerry and Susan Carter are both 63. They own and operate a very profitable manufacturing business in a small town. Jerry and Susan spend about $650,000 a year, giving generously to family ($200,000/yr.) and their favorite charitable causes ($150,000/yr.). Although the business provides significant taxable income of over $5M a year, Jerry and Susan have been re-investing excess cash back into the business to keep it thriving through the latest recession. With assets totaling over $60M, a growing business and an income tax bill surpassing $2M/yr., their estate tax and income tax exposure is quickly increasing.
Learn more at www.inknowvision.com
Jackson Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Chris is 68 and Beth is 59. Chris has recently just retired from an executive position in a public company. They have always led a relatively simple and conservative lifestyle and as a result have built up a very significant, and liquid, net worth.
As part of Chris’ retirement package, he has an annual pension payment of approximately $360,000 (inflating). The pension alone is enough to cover their annual living expenses of $230,000.
As a result, they have a large annual cash flow surplus created by the $400k in annual dividends from their equity portfolios and their tax-exempt income from municipal bond portfolios totaling $1.1M.
The primary planning goals were to:
Make sure that they have sufficient funds to live on for the rest of their lives (approximately $230,000 after taxes and gifts).
Provide for the financial security of the surviving spouse.
Create an inheritance for their children which protects them from any potential future creditors and/or predators.
Provide a charitable gift at death as long as it doesn’t greatly diminish the amount they pass to their heirs.
Eliminate or reduce estate taxes.
Jackson Family Wealth Goal Achiever - Advanced Estate PlanningInKnowVision
Chris is 68 and Beth is 59. Chris has recently just retired from an executive position in a public company. They have always led a relatively simple and conservative lifestyle and as a result have built up a very significant, and liquid, net worth. As part of Chris’s retirement package, he has an annual pension payment of approx. $360,000 (inflating). The pension alone is enough to cover their annual living expenses of $230,000. As a result, they have a large annual cash flow surplus created by the $400k in annual dividends from their equity portfolios and their tax-exempt income from municipal bond portfolios totaling $1.1M.
The main planning objective is to take advantage of the lifetime gifting exemption ($5M each) while it is still available. This is due in part to the large concentration of conservatively invested assets that are growing inside Chris and Beth’s estate. In addition, they are looking to preserve enough assets in order to provide sufficient cash flow that will ensure a comfortable lifestyle with flexibility during retirement.
Learn more at www.inknowvision.com
InKnowVision October 2013 Case Study - Lewis FWGAInKnowVision
Duncan and Tina are both 65. They live a comfortable lifestyle, spending about $1,600,000 a year after taxes and gifting about $2,000,000 a year to their family foundation. With assets worth approximately $62M and annual income of over $7M, they currently pay just over $2M a year in income taxes and have an increasing estate tax and ongoing income tax exposure.
The primary planning goals are to:
-Make sure that they have sufficient funds to live on for the rest of their lives (approx. $1,600,000/yr. after taxes and gifts).
-Assure that Duncan's, Inc. does not have to be liquidated as a result of their death.
-Provide a successful transition of the business to their son, Jason, while ensuring an equal inheritance for their son, Jeremy. They would like to leave 50% of their estate to Jason & Jeremy and another 25% to their grandchildren and other family members.
-They wish to continue annual giving to their family foundation and ultimately leave 25% of their estate to the foundation at death.
-Make sure the company buy/sell agreement accurately reflects the wishes of the family owners in the most tax efficient manner possible.
-Eliminate or reduce estate taxes.
Using Life Insurance in Charitable PlanningRussell James
These slides are taken from the graduate financial planning course "Introduction to Charitable Planning" at Texas Tech University. Details at www.EncourageGenerosity.com
Importance of understanding your finances, your income and understanding your pay stub are covered in Part 1 of the of the 6-part Money Matters series created by the Athens-Clarke County Library. Money Matters is part of Smart investing @ your library®, and is brought to you by a joint grant from the American Library Association and FINRA, the Financial Regulatory Authority Foundation.
Congressional Briefing, “Ladders to Success: Center-Based Strategies for Moving Working Families into the Middle Class” (December 4, 2012), presented by United Way of the Bay Area, The Annie E. Casey Foundation, Local Initiatives Support Corporation (LISC), MDC and United Way Worldwide.
Social Finance and Impact Investing in CanadaKarim Harji
Presentation at OISE - November 21, 2012
• An overview of the state of social finance and impact investing across Canada
• An analysis of why Canada is well positioned to become a leader globally
• A participatory discussion on the key issues such as:
-- The perceived trade-offs between social impact vs. financial return;
--- How philanthropy can complement social finance;
--- Measurement of social value creation;
--- Legislation and public policy; and
--- Bridging silos between sectors and organizations.
3. 68%
Ad Valorem
All Funds
$50 $47
$45 .8981
$38
Includes Program
Stability and $25
Revenues $1.2M
donation
Program Stability
$12
$13 $10 $9
$4
$2 $1
$0
Revenue Other Funds
Max
17% in millions
4. $735K $12.2m
Grants: Carerra, Buyback and
IRS Vita, 21st Century Targeted Case
Management
$15
REVENUE $11
MAXIMIZATION $8
DO
SOMETHING
$4
MATCHING FUNDS,
AND GRANTS $0
DO
NOTHING
in millions
5. STABLE AND
NURTURING
Budget
Investments
About our LEARN Headline
AND Indicators
programs SUCCEED SAFE AND SUPPORTIVE
HEALTHY
6. School Readiness
Purchases quality child care scholarships for
children 0-5 to increase school readiness
Learn and
Succeed 1 (currently 57%) for children in scholarship care.
Matching funds for ELC and child care facility
licensing.
$9.1 million. Children served with JWB and
match: +1000 (e)
$19.6 million Out of School Time
Major
Investments 2 Purchases before/after school scholarships for
children 9-14. Provides a learning
environment to enhance school success.
$5 million. Children served: 4,375
7. Special Needs
Learn and
Succeed 3 Specialized interventions which work to
eliminate negative behaviors that interfere
with early childhood development.
$1.8 million. Children served: 853
Violence Prevention
4
Major
Conflict resolution services in Pinellas
Investments County Schools
$800K. Children served: 1,336
8. 5
Mentoring
Evidence-based program matching youth with a
caring adult to promote pro-social behaviors,
improve academic performance and prevent
involvement in risky behaviors.
$572K. Children served:1,256
6
Literacy
Learn and Evidence-based program provides parents with
Succeed children 3-5 years of age in-home parent
education related to early literacy development
Major for their children.
$517K. Children served: 737
Investments
7
Pregnancy Prevention
Federal grant to pilot the Carerra program
locally.
$600K. Children served: 63
9. Child Abuse Prevention
Nurse Family Partnership, Healthy Families and
Stable and
1 Kinship Program. Evidence based or emerging
programs. Outcome measurement is a reduction
in the number of children in the Child Welfare
System.
Nurturing $7 million. Children served: 2,352
2
Family Services Pool
A system of care that seeks to assist families to
$19.2 million achieve stability by providing an array of
services, supports, coordination, information,
referral and family navigation.
Major Investments $6.2 million. Units provided to families: 13,000
10. 3
Mental Health and Substance Abuse
Purpose: provides mental health and substance
Stable and abuse services. Children are provided outpatient
Nurturing mental health treatment.
$5.5 million. Children served: 4,383
Major Investments
11. Neighborhood Family Centers
SAFE AND
1
Located in the seven high risk
neighborhoods identified by JWB, these
SUPPORTIVE centers provide family stability services.
$3.8 million. Children served: 1,698
$4.6 million Shelters
Major Investments 2
Domestic Violence, Homeless and Runaway
shelters.
$690K. Children served: 1,151
12. SCHOOL-BASED HEALTH CLINICS
Health Clinics located at Gibbs, Northeast
Healthy
1 and Boca Ciega High Schools. Also hopes
to provide health ser vices to the
community.
$716K Children served: 982
Major Investments
13. % OF THE TOTAL BUDGET
Administration 8.2%
$3.0 $3.0
$3
$2
EXECUTIVE OFFICE
COMMUNICATIONS
HUMAN RESOURCES
$1.6
$2 $1.3 $1.4 $1.4 PUBLIC POLICY
INVESTMENT AND RESOURCE
AND STAFF DEVELOPMENT
Comparison $1
$0.5 $0.5
TECHNICAL
11/12 - 12/13 ASSISTANCE
$0
ASO
PERFORMANCE PROGRAM
MANAGEMENT DEVELOPMENT
AND SUPPORT in millions
14. PROGRAM ACCOUNTABILITY AND
ANALYSIS
Program outcome measurement and
1
research. Funding for data harvesting at
the school system. Research Unit supports
this effort. JWB spends less than 2% of
Other the program budget on accountability and
investments analysis.
$300K
Major Investments PROGRAM OUTREACH/EDUCATION
2
Outreach and information for citizens to
access JWB services.
$200K
15. NEW:
SCHOOL
READINESS VS.
CHILD CARE
NEW: FAMILY
43%
SERVICES POOL
CLIENT FOCUSED
$30 SERVICES
LEARN AND
Program $23
SUCCEED$21
Budget
$20 $19
$18
14%
$15
All Investments $8
$5 $5 OTHER
$1 $1 $2 $1
$0
STABLE AND
NURTURING
43% in millions
16. 1
ADMINISTRATION & HUMAN RESOURCES
Mary Grace Duffy, Ed. D., Director
$681K. Staff: 4
2
PERFORMANCE MANAGEMENT: Lisa Sahulka, MPA,
Director Research, Contract Management, Finance,
ASO, Technology
$3 million (ASO $509K). Staff: 27
Administration
3
Gay Lancaster, MA PROGRAM DEVELOPMENT AND SUPPORT,
Executive Director Marcie Biddleman, Ph.D., Director
Provides community, program, technical support and
Executive Office &
issue expertise. Directs Wealth Building campaign.
Communications $1.3 million. Staff: 16
$658K
4
Staff: 4 PUBLIC POLICY AND RESOURCE DEVELOPMENT
Debra Prewitt, MPA, Director. Grant writing and
legislative advocacy. $509K. Staff: 5
17. We pay the Property Appraiser
and the Tax Collector
to administer ad valorem
revenues
Property tax
$1,500 fees
$1,125 $1,065
$1,009
Non-Operating Technology
Comparison $750
Business
11/12-12/13 Intelligence
$375
$210 $240
$182
Includes fees and $22
potential expenses. $0
Annual Leave, Sick
Leave Pool and
Executive Director
Search and FRS
in thousands