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Founder | CovingtonAlsina
After working in financial planning for several years, Ann C. Alsina wanted to help overcome the “confidence gap” that she saw in women clients. She founded CovingtonAlsina, a financial planning firm with the tagline “at the intersection of women and wealth,” in July 2012. A decade later, the firm continues to grow and includes clientele of all genders in a variety of financial situations.
To coincide with What’s Up? Media’s “Nonprofits and Charities” issue, Alsina shares her insights on charitable giving, the importance of giving back to the community, and her passion for offering opportunities to empower women.
What are some general financial planning tips for charitable giving that you would offer clients?
Donor-advised funds are useful for making a large tax-deductible donation during one year and then spreading out the actual gifts to charities over time. Instead of cash, you may want to give stock that is worth more than when you purchased it. You receive a deduction for the current value, and you avoid paying capital gains tax on the increase in value.
Once you reach 70.5 years old, you can make donations directly from your retirement accounts to a charity. This counts towards your required minimum distribution but is not considered income for tax purposes or Medicare means testing.
What are some ways that you give back to the community?
We believe that we are part of something bigger, and we contribute to several charitable and community causes. CovingtonAlsina is a sponsor of the Annapolis Maritime Museum, Annapolis Opera, Historic Annapolis, and Mitchell Art Museum. We also participate in fundraising events for Hospice of the Chesapeake, The Summit School, All Children’s Chorus of Annapolis, and others.
Another way that we support the community is through the donation of our “PursePower Package” to nonprofits for their silent auctions. The package includes an imported leather handbag, a book, and a gift certificate. I also serve as the treasurer of the board of trustees of Historic Annapolis.
An important component of your mission is community outreach. What types of workshops do you offer?
We offer workshops to help educate and empower women about every aspect of their financial lives. Two popular offerings are Women, Wine & Wisdom, which features guest speakers and a roundtable discussion about a specific topic, and our Second Saturday Divorce Workshop.
Ann C. Alsina, CFP®, CPWA® | CovingtonAlsina 67 West Street, Suite 200 Annapolis, MD 21401
410-457-7165 | www.covingtonalsina.com
Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and CovingtonAlsina are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
