CLEARWATER WEALTH PARTNERS
Meeting Notes
____________________________________________________________________________________
_
CLIENT: Chen Household (Sam & Alex Chen)
DATE: June 14, 2023
MEETING: 2023 Q2 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
____________________________________________________________________________________
_
DISCUSSION SUMMARY
The April NLTK liquidity event executed as planned. The portfolio stands at
$1,043,000 — the Chens have crossed one million dollars for the first time. The S&P
500 is up approximately 14% year-to-date.
Execution recap for the April 12 vest: 2,667 shares vested at $45.00 per share,
generating $120,015 of W-2 income. In-kind donation: 556 shares transferred to the
Clearwater Giving Fund at $45 per share, a $25,020 charitable deduction with zero
capital gain recognized. Portfolio reinvestment: 1,800 shares sold at $45 (same-day
sale, basis equals vest price, zero capital gain); proceeds of $81,000 added to
ACCT-INVEST. Retained: 311 shares at a $45 cost basis, approximately 0.3%
concentration in NLTK.
Capital gains for 2023 to date are approximately $6,750 from routine rebalancing. The
$15,500 TLH carryforward from 2022 fully offsets these gains and then some — net
capital gains for 2023 are zero. The $25,020 DAF deduction reduces AGI directly. The
advisor estimates total AGI for 2023 at approximately $426,000 — high but
meaningfully lower than it would have been without the DAF strategy.
NLTK concentration is now below 1.5% of AUM — the lowest since the RSU program began.
There is one final vest remaining in Q3 2024, and then the NLTK chapter closes. The
DAF now holds $25,020 available for grant distribution. The Chens mentioned
interest in supporting a school foundation, a local food bank, and an arts
organization. A grant schedule will be developed before year-end.
____________________________________________________________________________________
_
ACTION ITEMS
1. Send 2023 vest execution summary and DAF contribution documentation to CPA —
this week

2. Develop DAF grant schedule — advisor to follow up in October 2023
3. No additional estimated tax payments needed before September 15
4. Monitor remaining NLTK position (311 shares) — hold through Q3 2024 final vest
____________________________________________________________________________________
_
CONFIDENTIAL — For client use only. Not for distribution.
