Consider a private (family) foundation

A private foundation is a unique way to satisfy your philanthropic goals. Although often thought of as a financial or estate planning tool for the very wealthy, a foundation (either in
the form of a corporation or a trust) should be considered by anyone making a sizable gift to a charitable or not-for-profit organization.

The rewards of philanthropy

Setting up a private foundation during your lifetime lets you play an active role in choosing the object of your philanthropy as well as observe the results of your generosity. A
foundation lets you make gifts privately and anonymously and can act as a shelter from a constant barrage of solicitations.

Beyond the joy of philanthropy itself, a private foundation offers financial and emotional rewards for yourself and your family. For instance, members of your family may
be appointed to the foundation’s board of directors. A foundation funded with a major donation may be large enough to provide compensation for family members who carry out
administrative functions or serve on the board of directors.

Then, too, consider the pleasure—and sense of family unity—when parents, children, brothers and sisters work together in their charitable endeavors. What’s more, future
generations can learn by example important lessons about generosity.

Finally, if you are approaching retirement (or are already there), a private foundation offers an opportunity to stay active. By taking responsibility for reviewing grants and
performing other foundation duties, you can play an important role in the welfare of the community and the world at large. At the same time you can increase your knowledge and
skills, using your creativity and energy in new ways.

To find out more

A private foundation is an excellent way to enjoy the fruits of your philanthropy. If you would like to learn more about making a significant gift to charity, contact us. We will be glad to discuss how to integrate your philanthropy with your financial and estate planning goals.