Page 22 - PGA Community News - January '25

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Page 22, PGA C.A.N.! 2 Spaces January 2025
January 2025

Quantum Foundation Makes $500,000 Grant To Community

Foundation For Palm Beach And Martin Counties’ African

American Museum And Research Library (AAMRL) Project

Funding Will Support and Research Library initiative would not be possible
“The Palm Beach County African American Museum
Architectural Design And without the generosity and support of partners like
Planning For AAMRL On Quantum Foundation,” said Danita R. DeHaney, president
and CEO of Community Foundation for Palm Beach and
Historical Roosevelt High Martin Counties. “Quantum Foundation’s $500,000 grant,
dedicated to architectural planning and design, represents
School Site In West Palm Beach a crucial first step in creating a lasting cultural institution
that will preserve and celebrate African American history
Quantum Foundation has announced a $500,000 for generations to come.”
grant to Community Foundation for Palm Beach and According to DeHaney, the AAMRL will stand as a
Martin Counties’ newly established African American transformative anchor institution in the historic Coleman
Museum and Research Library (AAMRL) Fund. The Park neighborhood, fostering community pride, economic
grant will support architectural planning and design for growth, and cultural vitality while honoring the area’s
the project. Quantum Foundation’s mission is to inspire rich African American heritage. This initiative is a
and fund initiatives that improve the health of Palm collaboration between the Palm Beach County Board of
Beach County residents. Community Foundation is a Danita DeHaney and Eric Kelly County Commissioners, Community Foundation for Palm
nonprofit organization that leads partnerships with donors, Beach and Martin Counties, The School District of Palm
nonprofits, and community members to solve the region’s community engagement through lectures, educational Beach County, and various community stakeholders.
chronic and emerging issues. programming, workshops, seminars, special exhibitions, Once home to West Palm Beach’s two all-Black high
Earlier this year, Community Foundation received cultural programs, oral history projects, research schools, in recent years, the Roosevelt High grounds became
approval for funding from the Palm Beach County Board opportunities, and youth programs. the Roosevelt Full-Service Center. The Roosevelt Center,
of County Commissioners to plan and develop a new “Over the past five years, we have strategically owned by the The School District of Palm Beach County,
African American Museum at the historic Roosevelt supported projects and programs to enhance the physical became a community center with neighborhood resources,
High School site (1601 N. Tamarind Ave.) in West Palm and social conditions for residents in Coleman Park,” said services, and alternative school programs on site.
Beach. The AAMRL will celebrate and preserve African Eric Kelly, president of Quantum Foundation. “These The school district has already commenced phase one
American history and culture in West Palm Beach, the state neighborhoods, which reflect the lowest life expectancy of the Roosevelt Center renovation project. Phase two of
of Florida, and beyond. The project will include exhibit in Palm Beach County, are home to some of the most the project will provide for renovation of the buildings at
space, a research library, and extensive opportunities for extraordinary cultural landmarks. While we’ve made the Roosevelt Center that will house the research library
strides, there is still much work to be done in addressing and for construction of a new 20,000-square-foot two-
the underlying systems that impact this community. We story building to house the museum.

For more information or to donate to Community
are proud to support the African American Museum and
Professional Research Library, which serves as a powerful reminder of Foundation for Palm Beach and Martin Counties, please
visit yourcommunityfoundation.org/give-now/.
our shared history and furthers our ongoing commitment
Firefighters And to this area.”

Paramedics Of Financial Focus ®

Palm Beach When Is A Good Time For intact as long as you like.
Timing also comes into play with the financial markets.
County Roth Conversion? When the market is going through a decline, and the value
of your traditional IRA drops, you could convert the same
number of shares of the underlying investments and receive
By Sally Sima Stahl,
Edward Jones a lower tax bill or convert more shares of these investments
Hopefully, everyone had In life, you often get for what would have been the same tax bill.
the opportunity to enjoy second chances—and • Tax-free legacy for your heirs—When your heirs
time with family and friends the same is true with inherit your Roth IRA, they can withdraw the contributions
during the holiday season. investing. To illustrate: without paying taxes or penalties, and if the account has
As you begin to pack You might not have been been open for at least five years, they can also withdraw
earnings tax-free.
away your decorations, able to contribute to a Roth Finally, you could lower your tax bill in any given year
please take the time to IRA during your working by stretching out your Roth IRA conversions over several
inspect the ones that have years due to your income years, rather than doing it all at once.
level, but you may get that
electrical wiring. There should be no exposed wire opportunity as you near But even if you were aware of these advantages, you
from where the insulation has become worn or retirement or even when might not have been able to invest in a Roth IRA for much
cracked. If there is, they must be discarded so that it you are retired—through a Roth conversion. of your life. For one thing, you might have earned too much
does not become a fire hazard next holiday season. And you can do so by converting your traditional IRA money— a Roth IRA, unlike a traditional IRA, has income
Strands of lights can be taken to the recycling to a Roth. While this sounds simple, there’s a major caveat: limits. Also, a Roth IRA has only been around since 1998, so,
center. taxes. You’ll be taxed on the amount in pre-tax dollars you in the previous years, you were limited to a traditional IRA.
If you had a live tree as part of your decorations, contributed to a traditional IRA and then converted to a You’ll want to consult with your tax advisor before
it should be taken down and disposed of as soon as Roth IRA. (If you have both pre- and after-tax dollars in embarking on this conversion—but if it’s appropriate for
possible. Trees can dry out very quickly, especially your traditional IRA, the taxable amount is based on the your situation, you could find that owning a Roth IRA can
when the A/C is drawing humidity out of your home. percentage of pre-tax dollars.) benefit you and your family for years to come.
Dry Christmas trees can create a significant Why is a Roth IRA desirable for some people? Here are As you approach retirement, though, you might start
fire hazard and can ignite with intense flames very the key benefits: thinking of just how much you’d like to benefit from a
quickly with just the slightest ignition source. If you have large amounts in a traditional IRA, the tax Roth IRA.
We are entering the dry season for natural bill on conversion can be significant. The key to potentially This article was written by Edward Jones for use by
vegetation. Please use extra caution when enjoying lowering this tax bill is timing. Generally speaking, the your local Edward Jones Financial Advisor, Edward Jones,
the nature preserves and all outdoor areas to make lower your income in a given year, the more favorable it Member SIPC.
sure we all remain fire safe. Improperly discarded is for you to convert to a Roth IRA. So, for example, if Edward Jones is a licensed insurance producer in
matches and smoking material can easily cause a you have already retired, but have not started collecting all states and Washington, D.C., through Edward D.
brush fire that can spread very quickly. RMDs, your income may be down. Jones & Co., L.P., and in California, New Mexico and
If you see any fire in the natural areas, no matter • Tax-free withdrawals—you put in after-tax dollars to a Massachusetts through Edward Jones Insurance Agency
how small you may think it is, dial 911 to report it. Roth IRA, so you can withdraw your contributions at any of California, L.L.C.; Edward Jones Insurance Agency of
Small fires can grow to become a significant time, free of taxes and penalties. And if you’ve had your New Mexico, L.L.C.; and Edward Jones Insurance Agency
account for at least five years and you’re at least 591⁄2, you of Massachusetts, L.L.C.
danger to lives and property. can also withdraw your earnings free of taxes. Edward Jones, its employees and financial advisors
Thank you, and stay safe and well. • No RMDs—With a traditional IRA, you’ll have to cannot provide tax advice. You should consult your
Steen Eriksson, start taking withdrawals — called required minimum qualified tax advisor regarding your situation.
Community Relations, distributions, or RMDs — when you turn 73, or 75 if you Contact us at (561) 748-7600, Sally Sima Stahl,
Professional Firefighters and Paramedics of Palm were born in 1960 or later. But there’s no RMD requirement CFP , AAMS™, 1851 W. Indiantown Road, Ste. 106,
®
Beach County, with a Roth IRA — you can essentially leave the money Jupiter, FL 33458.
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