Tue08192014

News

Candidates finalized for schools, councils

Candidates finalized for schools, councils


Election season is officially in full swing, as eligible candidates for various city council and school district seats met Friday’s filing deadline set by the Santa Clara County Registrar of Voters.

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Schools

Local tutoring center earns kudos in parent magazine's reader poll

Local tutoring center earns kudos in parent magazine's reader poll


Courtesy of Kobad Bugwadia
Mathnasium’s fourth-grade participants, from left, Jenna Haynie, Maelle Allanic, Tanish Gupta, Hamza Raza and David Chan, join instructors to celebrate their achievements in the tutoring center’s national TriMathlon this ...

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Community

Back to School: Tips, kits and a poem

Back to School: Tips, kits and a poem

Los Altos teachers are readying their rooms this week for the coming onslaught of students, and parents are digging back out lunch boxes and pencil cases (do we still use those?) And here in the newsroom, Town Crier writers offered a slate of back-to...

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Sports

Tyler Johnson: From hills to Heat

Tyler Johnson: From hills to Heat


Courtesy of NBAE/Getty Images
Shooting guard Tyler Johnson, a St. Francis High graduate from Mountain View, signed with the Miami Heat last week.

Signed by the Miami Heat as an undrafted free agent last week, rookie Tyler Johnson faces an uphill ba...

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Comment

Really, why the, eh, consolidation?

The recent merger (consolidation?) of the newly formed Friends of Los Altos (FOLA) and the 14-year-old civic organization Los Altos Neighborhood Network (LANN) left us puzzled.

A July 28 press release, which did not state plainly that the merger fol...

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Special Sections

Globetrotting – one glass at a time

Globetrotting – one glass at a time


Christine Moore/Special to the Town Crier
Take a tour of the world from your own picnic table with a selection of regional wines, above. Argentina’s white wines, left, pair well with a choriza pizza (see recipe on page 35).

I’m taking a...

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Business

Torrey Pines Bank names regional president

Torrey Pines Bank names regional president


Ellie Van Houtte/Town Crier
Torrey Pines Bank recently named Fred Voss its regional president for the Bay Area. The bank has branches at 20 First St. in Los Altos, above, and in Oakland and Southern California.

Torrey Pines Bank last week appointed ...

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Books

People

SHERRY DYCE BARBA

SHERRY DYCE BARBA

Sherry Dyce Barba, dear wife of Peter Barba, and a longtime resident of Los Altos, passed away peacefully on July 27, 2014, at The Forum, in Cupertino. She was surrounded by loving family members and visited continuously in her last weeks by a legi...

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Travel

Bergama bound: A visit to newest World Heritage site

Bergama bound: A visit to newest World Heritage site


Photo Eren GÖknar/ Special to the Town Crier
The amphitheater in Turkey’s ancient city of Pergamon, now known as Bergama, overlooks the Bakirçay River valley, left. The city’s ruins also include the Temple of Trajan.

It was 90 F during t...

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Stepping Out

No ‘Water’ shortage in Mtn. View


Kevin Berne/Special to the Town Crier
Elliot (Miles Gaston Villanueva) struggles to understand Odessa’s (Zilah Mendoza) online activity in TheatreWorks’ regional premiere of the Pulitzer Prize-winning drama “Water by the Spoonful....

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Spiritual Life

Spiritual Briefs

Meditation group meets at Foothills Congregational

A Weekly Meditation Practice group meets 7-8:15 a.m. Tuesdays at Foothills Congregational Church, 461 Orange Ave., Los Altos.

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Magazine

Festival features fun for everyone

Festival features fun for everyone


TOWN CRIER FILE PHOTO
The Los Altos Arts & Wine Festival boasts more than 375 craft and arts booths.

This weekend’s 35th annual Los Altos Arts & Wine Festival promises to be jam-packed with fun activities for just about everyone. The eve...

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'Tis the season for charitable giving – and tax savings

For some, the end-of-year holidays engender thoughts of helping those less fortunate. For others, it’s a time to develop strategies to save on taxes.

Charitable giving allows you to achieve both goals. However, what if you would like to help but don’t yet know which charities you prefer? One of the most flexible ways to address this is to use a donor-advised fund (DAF).

A DAF is an account similar to a 401(k), sponsored and administered by a public charity for the purpose of managing charitable donations to other organizations on your behalf. It offers you the opportunity to donate money and get an immediate tax deduction before deciding which charities you want to fund. Rather than making donations directly to your favorite charities, you can donate the money to a DAF and in the future direct grants to specific charities through the DAF. For wealthy individuals and families, a DAF provides simpler accounting, higher tax-deduction limits and less strict payout requirements compared to creating your own private foundation.

However, there may be differences across DAFs in the offerings, so selecting the most appropriate one can be challenging. Following are questions you should ask the sponsoring organizations before selecting the right DAF for you.

• What types of grants will the DAF sponsoring organization approve? Generally DAFs are able to support most 501(c)(3) organizations, but there are sometimes restrictions, such as religious or international requirements. If you cannot support your favorite charities through the fund, it’s probably not for you.

• Will the DAF accept assets other than cash for funding? Many DAFs accept publicly traded stock, privately held company stock, real estate, life insurance and even art and collectibles.

• What are the investment options? Is there a minimum account size? Some DAF sponsors allow donors or their financial advisers to manage the funds within the DAF themselves. This may be of value to you if you plan on making distributions over a long period of time.

• What is the process for making grants from the fund? Is there a minimum amount? Can it be done by phone or online? Is there an approval process? What are the costs?

• What resources are provided to help clients identify causes or charities and plan their giving? If you know exactly which charities you want to support, you won’t need such help. But some sponsoring organizations additionally help educate their DAF account holders on local needs as well as how to be more effective donors. Working with such organizations could help develop a greater sense of pride and satisfaction through your charitable giving.

• Can the assets in a DAF account be transferred to another DAF sponsor? You may want to change in the future for any number of reasons or may simply prefer not being locked in.

• What happens when the DAF account creator is no longer alive? Can successor trustees be named? Can the DAF holder designate charitable beneficiaries to receive the final amount in the fund?

When it comes to selecting a DAF, there is no shortage of choices. Brokerage houses Fidelity, Schwab and Vanguard run the largest national DAFs. If you are more inclined to support your local community, there is the Los Altos Community Foundation right in our own backyard. It supports local nonprofits as well as national charities.

Regardless of your preference, DAFs remain an excellent vehicle through which you can accomplish good in the community while at the same time saving on your taxes.

Los Altos resident Artie Green is a Certified Financial Planner and principal at Cognizant Wealth Advisors. For more information, call 209-4062 or email This email address is being protected from spambots. You need JavaScript enabled to view it. .

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