Tue07222014

News

Q&A with Anne Wojcicki: 23andMe founder, local resident discusses Los Altos investments

Q&A with Anne Wojcicki: 23andMe founder, local resident discusses Los Altos investments


Anne Wojcicki

For the past several years, Anne Wojcicki (Wo-JIT-skee) has been quietly involved in efforts to spruce up downtown Los Altos. She and her husband, Google Inc. co-founder Sergey Brin, helped form Passerelle Investment Co., which own...

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Schools

Foothill fall registration opens Monday

Local residents interested in earning a specialized career certificate, associate degree or updated job skills can enroll beginning Monday when Foothill College opens fall registration.

In addition to its continuing-education courses, the college pr...

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Community

Horse show this Sunday in Los Altos Hills

The Los Altos Hills Horseman’s Association will be hosting a summer schooling show this coming 8 a.m. to 3 p.m. Sunday (July 27) at the Los Altos Hills Town Arena on Purissima Road.  Equestrians and spectators are welcome. Activities include jum...

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Sports

Stewart accepts job as baseball coach at Los Altos High

Stewart accepts job as baseball coach at Los Altos High


Los Altos High administrators offered Gabe Stewart the job of head baseball coach at Los Altos High even before he could apply for it.

“They approached me – they wanted an on-campus coach,” said Stewart, an AP History teacher at ...

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Comment

A good start – now follow through: Editorial

The recent announcement of a five-year agreement between the Los Altos School District and Bullis Charter School is welcome relief for the entire community. After years of dispute and litigation, the pact is nothing short of a minor miracle.

Among t...

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Business

In the business of fostering business

In the business of fostering business


took over as Los Altos’ new economic development coordinator in May after spending the past two years working as city assistant planner. Ellie Van Houtte/ Town Crier

Sierra Davis is wearing a slightly different hat these days as a Los Altos cit...

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Books

"Frozen in Time" chronicles harrowing WWII rescue attempts


Many readers can’t resist a true-life adventure story, especially those that shine a spotlight on people who exhibit supreme courage in the face of adversity and end up surviving – or not – against the odds.

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People

GORDON E. BRANDT

GORDON E. BRANDT

In May of 2014, Gordon E. Brandt passed away after a one and one half year battle with Lymphoma. He died peacefully at home, surrounded by his family.

Gordon was born in Los Angeles, CA on July 13, 1930. He graduated from Fremont High School in 19...

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Travel

British Columbia: Richmond, Steveston, Victoria hold surprises

British Columbia: Richmond, Steveston, Victoria hold surprises


Courtesy of Tourism Richmond
Shops, restaurants and museums dot the boardwalk in British Columbia’s Steveston, a great site for strolling.

Picturesque British Columbia has long been on our bucket list, and we recently fulfilled that dream.

We...

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Stepping Out

LA Youth Theatre, LA Stage Company join forces for 'Oz'

LA Youth Theatre, LA Stage Company join forces for 'Oz'


Joyce Goldschmid/Special to the Town Crier
The cast of “The Wizard of Oz” includes, clockwise from top left, Dana Levy (as Tinman), Rebecca Krieger (Cowardly Lion), Sarah Traina (Scarecrow) and Osher Fein (Dorothy).

Los Altos Youth Theatre and L...

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Spiritual Life

Stanford students study religion through campus artifacts

The inscriptions inside Memorial Church, the death mask of Jane Stanford and the nod to the Egyptian ankh symbol formed by Palm Drive and the Stanford Oval all have one thing in common: Each was a topic of discussion for the students enrolled in a un...

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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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