11 Aug Bill and Joan Cvengros Plan Their Legacy with Market Precision
Timing is everything—in business, and in life. Just ask longtime investment executive Bill Cvengros. He’s made a practice of getting timing right, from making smart business choices to partnering with OCCF to maximize tax benefits and fuel charitable impact for the past 17 years. In 2010, Bill and Joan took their vision for the Cvengros Family Charitable Fund to the next level by developing a legacy plan to reflect not only their abiding philanthropic values and interests but also to create a lasting role for the next generations of their family.
When Bill first turned his attention to philanthropy in December 2000, he elected to partner with OCCF to establish his first fund – a decision timed to the IPO of a company in which he invested. OCCF was able to match Bill’s personal charitable interests with the tax-planning needs presented by this IPO.
But that’s only the beginning of his philanthropic story. Ten years later, Bill and his wife Joan chose to cast a long-term vision by forming the Cvengros Family Charitable Fund in 2010. They worked with OCCF to establish clear objectives for their legacy giving plan, including a discrete breakdown of how they want their fund to benefit causes important to them and a plan for empowering the next-generation of Cvengros family philanthropists.
As outlined in the legacy plan that Bill and Joan created with OCCF to take effect after their passing, the Cvengroses have earmarked a portion of their fund to be granted to selected nonprofits that have deep personal meaning for them. Another portion of the fund will be used to create two other funds at OCCF for their daughters to advise, through which they can support the needs and causes closest to their own hearts.
The remaining assets in their fund will form the Cvengros Family Legacy Fund as a permanent endowment at OCCF, which their daughters will advise based on guidelines and priorities established by Bill and Joan, focused on five primary areas of need: youth development, health and human welfare, education, the environment, and conservation.
To create your own legacy plan for giving, contact Mary Jacobson at 949.553.4202, ext. 222, or firstname.lastname@example.org.