Some people believe that a private foundation provides their only option for long-term involvement with assets they set aside for charitable purposes. In reality, a charitable fund or a supporting organization at a community foundation offers numerous advantages and avoids many of the hassles of private foundation management. In addition, it provides real ways for the donor to stay engaged in giving.
In the alternative, some people may have already established a private foundation. In this case, they may find that there are several benefits to transferring it to a giving vehicle at a community foundation. Their charitable intent, name, and pattern of charitable giving are maintained—-in perpetuity if they wish.
There are many practical reasons why establishing a charitable fund might make more sense than creating a private foundation. To download a chart that compares a private foundation to charitable funds and supporting organizations, please click here.
We welcome the opportunity to discuss the advantages and disadvantages of a private foundation vs. a charitable fund. Our desire is always to help identify a solution that works best for the donor. Contact our staff to learn more.
As of June 30, 2016 the Community Foundation houses 447 charitable funds.
We are confident that we can help your client make immediate and long-term charitable decisions that will benefit the causes they care about most.
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