Poughkeepsie, NY - Recently, the Community Foundation hosted 50 attorneys, accountants, financial advisors and other professionals to network and more importantly recognize two individuals for their professionalism, commitment to provide outstanding service to clients, and promotion of philanthropy and charitable giving in our region.

 

Accountant William F. Berardi, principal of Berardi, Gottstine & Miller, CPA's P.C. and attorney Arthur L. Gellert, president of Gellert & Klein, P.C. were recognized for their partnership with the Community Foundation, and for promoting charitable giving as part of the professional services they offer their clients. 

 

Berardi, an accountant in Kingston has been in the practice of Public Accounting since 1979 and a principal in his own firm since 1983. Just last year he converted a charitable trust to the Ulster County Community Foundation. He found that the Foundation could administer this fund, fulfill the donor’s wishes and do it at a much lower cost.

 

In his acceptance speech Berardi shared his recent experience terminating a private trust and transferring it to an endowed fund at the Community Foundation. “Expenses of filing and mailing became cost-prohibitive,” Berardi said. “While it is flattering to be asked to be a trustee, don’t do it.  Thank your client for the honor and then suggest he or she use the Community Foundation.”

 

Gellert, a Poughkeepsie native and long-time champion for the Community Foundation also voiced his support. “When trusts and private foundations begin to reach the second and third generation those individuals may no longer reside locally or be as engaged as the original donors. At these times it may be best to convert the trust to the Community Foundation, freeing individuals from paperwork and ensuring the endowment can be more easily administered.”

 

“Another advantage and benefit of working with the Community Foundation is its versatility,” added Gellert.  “Whether a client has an interest in a specific cause such as youth sports, programs or services improving the diagnosis and treatment for particular health issues or diseases, or a broad interest to help the general community, the Foundation is designed and prepared to administer the funds and address any cause.”

 

Andrea Reynolds Community Foundation President added, “We are your first resource for everything charitable. Please consult with us before starting the process of creating a private trust or foundation. That conversation will highlight options that may be of interest to your clients.”

 

Established to help increase discussion about philanthropy and charitable giving the Community Foundation’s Professional Advisors Council provides materials and assistance to attorneys, accountants, financial planners and other professionals to assist their clients in fulfilling charitable goals.

 

For more information about the Professional Advisors Council, materials explaining the advantages of a charitable fund at the Community Foundation compared to a private foundation, and steps to transfer a trust or private foundation to the Community Foundation, please contact us at 845-452-3077.

 

Established in 1969, the Community Foundation is your first resource for everything charitable. Currently, the Foundation administers more than 425 charitable funds established by donors who primarily live in Dutchess, Putnam and Ulster counties. Since the Foundation’s inception, more than $14 million in grants and scholarships has been awarded to our community. For more information about the Community Foundation call 845-452-3077 or visit www.cfdcny.org.

Photo Captions

Top Photo (left to right) - Stephen E. Diamond, Esq., Andrea L. Reynolds and William F. Berardi, CPA
Bottom Photo (left to right) - Stephen E. Diamond, Esq., Arthur L. Gellert, Esq., and Andrea L. Reynolds