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Our thinking, for the taking. Stay on top of your financial well-being with insights from McKinley Carter strategists and portfolio managers. Uncover the latest on the economy, investing and retiring, along with other timely ideas and information.

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Nonprofit Fiscal Planning: Sustaining the Work That Is Bigger Than Us

At McKinley Carter, we not only provide guidance in a variety of important areas of nonprofit operations and finance (investment management, board governance, and fundraising, to name just a few), we also contribute to the overall mission of our nonprofit clients and their positive community impact, in perpetuity. How? Through an alignment of our goals — the most important of which is sustainability.

​​​​​​​Sustainability is critical for a nonprofit’s long-term viability, effectiveness, and service to constituents. It goes hand-in-hand with fiscal planning. Find out what nonprofits should consider in their fiscal planning.

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Happiness 101: Build a Family Philanthropy Plan

Building a family culture of philanthropy, whether that is through monetary efforts, or through gifts of time and energy, can strengthen family bonds, create a lasting legacy, and make an important difference in our communities. Is now the time to be intentional with your family about giving back to your community? Start the conversation and see where it leads.

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“Alright, Stop. Collaborate and Listen”

The title of this blog is meant to catch the attention of all those who grew up in the 80s. This is one of the first lines in the debut song "Ice Ice Baby" by American rapper Vanilla Ice. While Vanilla Ice's song doesn't have anything to do with nonprofit collaboration, the words stop, collaborate, and listen do resonate when it comes to opportunities for nonprofits to collaborate with their community. Learn more.

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Have Company Stock in Your 401(k)?

As you work through the labyrinth of decisions that move you from working and planning and working some more, to drawing an income and conserving value, it is always a welcome discovery to reduce your tax bill and, therefore, add another layer of security to your personal financial outlook.

One of the lesser-known strategies some retirees should consider applies if they have company stock within their 401(k) or Profit Sharing Plan; the special tax election is known by the label Net Unrealized Appreciation (NUA). Learn more.

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New U.S. Law Mandates Reporting of Beneficial Owners

Since 1990, the Financial Crimes Enforcement Network (FinCEN) has been a bureau of the U.S. Department of the Treasury. They are tasked with promoting national security and safeguarding our financial system by combatting financial crimes like money laundering and terrorist financing.

As of January 1, 2024, FinCEN has been given a new responsibility. Under the Corporate Transparency Act of 2021, FinCEN is now collecting required reports from U.S. companies that identify their beneficial owners and detail information. Is your business or entity one that is now required to report beneficial owners? Learn more.

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Boosting Lower Wage Earners’ Retirement Readiness

A recent Vanguard report sheds light on the pressing challenges faced by retirees across different income brackets. The findings reveal that lower income workers allocate a significantly larger portion of their pre-retirement income to meet their daily needs, leaving them with a substantial shortfall in retirement readiness — even when factoring in Social Security benefits.

Plan sponsors can take proactive steps to help participants better prepare for a secure retirement to ensure that all employees, regardless of income level, have a fighting chance at a comfortable retirement. Learn more about those key steps.

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Balancing Competitive Benefits in Budget Constraints for Plan Sponsors

It is crucial for companies to regularly benchmark and compare their benefits packages to their industry peers in order to maintain their competitive advantage and status. Offering a competitive benefits package, however, can be challenging for plan sponsors due to budgetary constraints.

But one industry leader says a plan sponsor should ideally reflect the investment "necessary to attract and retain the talent needed to drive business success" in their
"total rewards budget," which includes both benefits and compensation. That "right" amount of budget, he says, will depend on a number of factors. Find out more.

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DOL Releases New Fiduciary Advice Proposal

On October 31, 2023, the Department of Labor (DOL) released its “Proposed Retirement Security Rule: Definition of an Investment Advice Fiduciary.” If finalized, a new definition of an “investment advice fiduciary” under the Employee Retirement Income Security Act of 1974 (ERISA) would apply, likely resulting in more individuals becoming fiduciaries. Learn more.

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How to Freeze Your Credit, Benefits of Doing So

Protecting your personal information is more important now than ever before. With the increasing number of data breaches and identity theft cases, it's crucial to take proactive steps to safeguard your credit. One effective way to do this is by freezing your credit. Let's dive deeper into what credit freezing is, how to freeze your credit, and the benefits of taking this precautionary measure.

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