“Action springs not from thought, but from a readiness for responsibility.”
- Dietrich Bonhoeffer
Working with donors and donor families is the strength of the Crown Point Community Foundation. The foundation manages more than 300 funds. We work with donors, their families and their professional advisors to craft the perfect fund for them, a fund that will match their charitable intent.
When a donor or professional advisor works with the foundation, we discuss many different fund options. For many donors, the idea and process of creating a donor advised fund is the perfect answer.
A donor advised fund is simple to establish and will provide a rewarding experience for you and for your family. You can create one fund that manages all your charitable giving.
It begins when you make a charitable gift to the CPCF. The family names the fund. The foundation invests the assets. Then each and every year, the family makes grant recommendations. The staff at the CPCF handles all of the administrative details.
When the donor makes grant recommendations, the foundation verifies to make sure the charity is a recognized nonprofit that meets IRS standards and that the organization is in good standing.
Donor advised funds allow future generations to participate as advisors, too. Your children can participate as advisors, teaching them the value of giving. Families discuss the organizations that they want to impact with their philanthropic donation.
Donor advised funds held by the foundation are different than private foundations that must distribute 5 percent of the assets annually. Donor advised funds carry no minimum distribution requirement.
Families may decide to make a distribution annually, or let the fund grow by reinvesting the distribution until they are ready to make grant recommendations.
Upon the death of the last donor advisor, the fund remains with the foundation. The fund will continue to distribute grants, as outlined in the contract agreement, which support the donor's favorite causes forever.
With a donor advised fund you can:
- receive immediate tax deductions for each gift made to your fund
- annually recommend grants to charities
- involve your family in philanthropy
- eliminate the administrative burden and expense of a private foundation
- utilize the professional staff of the foundation
For information about establishing a donor advised fund, please contact me at the CPCF office, (219) 662-7252. It is extremely rewarding and can bring much satisfaction to you and your family as you begin to make grants to causes that are meaningful to you.