Leave the Work to Us: STLCF Offers Several Levels of Private Foundation Administration and Management
Does your client have a Private Foundation but is frustrated with its complexity, administration or cost?
St. Louis Community Foundation (STLCF) can help you craft a unique solution for this client:
Leave Some or All of the Work To Us: STLCF offers several levels of Private Foundation administration and management.
Working with STLCF allows your client to focus solely on the joy of giving and often can reduce the administrative costs* associated with a Private Foundation. STLCF comprehensive services include:
- Grant making and management;
- Trustee meeting facilitation;
- Back-office support;
- Collaboration with other funders; and /or
- The perfect location to host potential grantees or board meetings
*STLCF’s philosophy regarding fees is to estimate staff requirements and project hours based on the negotiated services, then determine the fees based on those estimates.
Let Us Help Your Client Convert to a Donor Advised Fund (DAF): In many instances, converting a Private Foundation into a DAF at STLCF can alleviate administrative burdens and increase your client’s philanthropic impact.
- Your client’s Private Foundation contributes all its assets to a DAF. This contribution is a “qualifying distribution” and it counts toward the 5% payout for the final year of the Private Foundation. The resulting DAF is exempt from future annual 5% minimum distribution requirements.
- One or more trustees of the Private Foundation can be named as the fund advisor(s) of the DAF.
- STLCF disburses grants to qualified nonprofits from the DAF as recommended by the fund advisor(s). STLCF staff can help research favorite causes and nonprofits and assist with strategic philanthropy planning. There is no additional fee for this service.
- The fund advisor(s) can maintain complete privacy of the grants being disbursed and determine on a case by case basis which grants will be recognized and which will be anonymous.
- The fund advisor(s) will still be able to recommend investment strategy but will have greater options for effective and strategic grantmaking. Learn more about Donor Advised Funds v Private Foundations here.
Interested in learning more about Private Foundations? Contact Katie Knapp at firstname.lastname@example.org.