The Foundation offers opportunities to assist with estate planning for your clients.
Here are some ways in which the Foundation can be of a benefit to your clients:
- A single gift can provide for several charitable organizations or causes
- The client (donor) can choose a cause to support as opposed to an organization
- The purpose of the charitable gift can be altered during the donor's lifetime
- The fund is professionally managed, ensuring funds are looked after appropriately
- A donation can continue to support a cause even if a particular organization ceases to be viable, which allows the most important causes of the donor to continue to be supported
- The fund will remain intact in perpetuity
- The donor has an option to remain anonymous
A Neutral Community Partner
The Foundation develops financial assets for all charitable causes that make up a community's quality of life. As a neutral broker in support of all charities, the Foundation is a non-competitive option for charitable giving.
Committing To A Cause
Over time, organizations and charitable agencies can change. If an organization ceases to function, donated funds may not be allocated as per the original intent of the donor. The Foundation allows donors to contribute to a cause as opposed to an organization, ensuring that funds continue to remain available to support that cause.
Giving That Grows
Donations to the Foundation are invested and pooled with other funds. The net earnings are then distributed annually. If funds are dedicated to an organization that ceases to exist, the Foundation Board will redirect those funds to the nearest purpose that is in line with the donor's wishes.
The Foundation can also provide for donors who wish to support an organization for a specific period of time, and then have the donation be redirected to the community at large. New and emerging causes will change over time and the flexibility of the Foundation allows for the community's greatest need to always be met.
Thinking of Starting a Private Foundation
If you have been considering starting a private foundation, you may wish to speak to us about how we can help facilitate that for you within our Foundation. Within the Community Foundation, individual donor advised funds can be established to allow for decision-making with the gifts, while not incurring the costs or operational responsibilities that are required to run a private foundation.
The decision to establish a donor advised fund within the Foundation still meets the benefits to the donor of tax savings through charitable contributions, and allows the individual donor to direct how the funds will be dispersed.
Charitable Endowments Within the Foundation
The Foundation also manages the endowment funds of other charitable organizations. This allows the charity to benefit with professional investment advice, the pooling of funds and the longevity of the funds. An endowment fund within the Foundation also guarantees the endowment is protected from potential creditors should the organization become unable to sustain itself.
A gift that is endowed to a charity is also protected against governance situations where a Board may opt to borrow against a donation for purposes for which the donor did not mean for it to be used. This gives donors more confidence in ensuring that their financial gift will be used appropriately.
For Donors Wishing To Remain Anonymous
Many donors prefer to make contributions anonymously. Some donors are not wanting to have a public announcement that recognizes their contributions. The Foundation makes it possible for a donor's anonymity to be respected.