| Donor
Advised Philanthropic Fund - It
is a popular alternative to a private foundation without reporting requirements,
accounting fees, and other restrictions on charitable distributions.
- It is a simple vehicle to establish, requiring
no legal costs or start up fees.
- It
allows you to transfer appreciated
stock that the Community Foundation (tax exempt) sells with no capital gains
realized or capital gain taxes.
- "
It permits you to contribute more appreciated stock in a given year than you may
plan to distribute, effectively storing funds for future charitable donations,
and receiving a larger tax deduction in the year of donation (consult your accountant
regarding the carry over of deductions up to 5 years).
- It
simplifies your bookkeeping by eliminating individual receipts for each gift $50
and above.
- The Community
Foundation does all the paperwork and record keeping for your charitable donation,
requiring only a simple form with your signature. Each charitable check is sent
by your instructions with a cover letter identifying the gift from your personal
fund & you receive copies of all cover letters, letting you know checks have
been sent.
- Checks are processed
twice a month throughout the calendar year in increments of $50 or more.
- Gifts can be made to Jewish and secular charities
from the full amount of the principal, there is a nice public relations message
when a secular institution receives a check from a fund of the Community Foundation
of the Jewish Federation.
- We
send you quarterly statements indicating all activity in your fund, amount and
date of contribution, amount and date of distribution and name of charity - it's
like "charitable banking"!
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