Some of your clients may have an existing private foundation. In this case, they may find that there are several benefits to transferring it to an advised fund with the community foundation. Through a transfer, your client may be able to avoid some of the hassles (and costs) of private foundation management.
There are two options to consider: the donor advised fund option and the supporting organization option. Each approach allows your clients to remain involved in grant making, if that is their desire. At the same time they will be able to ensure that their intent, name and pattern of charitable giving are maintained—in perpetuity if they wish.
For clients who are grappling with complying with their annual grant payout requirement, some donors have discovered that having a donor advised fund at the Foundation in addition to their private foundation gives them the best of both worlds. The private foundation can make a grant to its donor advised fund to help fulfill their grant payout, and then recommend grants from the donor advised fund at their convenience.
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We are ready to guide you and your client through the private foundation transfer process. Please click here to Contact Us for more information. |
