We’ll handle the administration while you focus on mission.
A private foundation can be a powerful vehicle for charitable giving, but sometimes the process of managing the foundation’s affairs can diminish the joy of giving, or become a burden for subsequent generations to maintain.
We can help with the following challenges:
- The original purpose of the foundation no longer applies
- The philanthropic mission needs to be updated to meet changing community needs
- Operational and investment management costs are rising
- Keeping up with new and changing regulations is time consuming
- Difficult to meet the annual 5% payout requirement
- The family or foundation directors prefer to focus on philanthropy rather than on administration
We offer three levels of Foundation Support Services:
Option 1: Administrative Services for Private Foundations
- We offer comprehensive services and guidance on the art and science of giving effectively
- Administrative services include: grants application process, review of grants, reporting of grants outcomes
- Governance services include: maintaining corporate documents, minutes and ballots
- Gift planning includes: educational programs, philanthropic strategies, multi-generational considerations
Option 2: Convert a private foundation to a Donor Advised Fund
A donor advised fund offers simplicity of administration, but remains focused on foundation intent, and can retain the same name as the foundation.
- Anonymity and confidentiality
- Elimination of 5% annual payout
- Less regulation, no excise tax payments
- Favored tax status for new charitable contributions
- Grantmaking services
- Less administrative burden
Option 3: Supplement a private foundation with a Donor Advised Fund
- Donate the annual 5% payout requirement to a Donor Advised Fund
- Distribute to qualified agencies at any time, based on the private foundation’s timetable.
- Maintain complete privacy of donations and activity
- May receive additional tax advantages due to the St. Louis Community Foundation being a public charity