Another excellent alternative to a private foundation, with only a fraction of the administrative responsibilities. You maintain personal involvement and support the causes you care about most while enjoying the favorable tax treatment of a public charity. We take care of investment management, startup costs, grant administration, and reporting.
Though connected to The Community Foundation, the supporting organization you establish is a separate charitable entity that bears whatever name you choose. You can have a great deal of control over your grantmaking without the burdens of operating a separate private foundation. You and future generations may even appoint successor board members to help direct the supporting organization you establish and define its purpose and mission.
Your contributions may yield a greater tax deduction than those made to a private foundation, and the supporting organization is not subject to other private foundation rules and regulations, such as paying an excise tax or making a minimum payout each year. You also have the choice of receiving recognition or remaining anonymous in your giving.
Several efficiencies preserve your charitable assets and allow you to make the impact you desire. The startup and administration is simple and allows your board to begin issuing grants right away.