When might the Community Foundation be an option as your charitable giving vehicle?

Typically there are two reasons why someone might consider partnering with the Community Foundation:

1. Personal interest and belief in the power of philanthropy
2. A life changing event in a person’s life that causes him/her to shift from contemplation to action

While tax advantages for charitable giving might be the initial reason to explore a charitable giving vehicle, there are usually additional opportunities centered around a desire to impact social change that provide further motivation.

Generally there are five trigger pints that occur in a person or family’s life that will motivate donors to establish a fund at the Community Foundation. They are:

1. Point-in-time event

Family change – death, birth, inheritance
Personal – life cycle shift, retirement, grandchildren
Business – sale, merger, stock acquisition

“As I was reviewing my estate plan, I realized it was time to set up a fund.”

“I sold my company and while I know I want to give back at some point, currently I have significant tax challenges that I need to get resolved.”

2. Spiritual

Fulfill a spiritual need or desire to give back

“I am blessed and want to give back.”

3. Belonging

Social trends
Civic pressure
Desire to be associated with credible organization

“I know someone who has a donor advised fund at the Community Foundation and said it had been a good experience. I think it is time for our family to think about setting one up.”

4. Focus on the greater good

Support of an identified priority community-directed need
Cause-directed need i.e. breast cancer awareness, hunger, education

“I want to help scientists find a cure for breast cancer in my lifetime. And once that is accomplished then I want options to make gifts from my fund to other nationwide issues.”

5. Functional

Financial – bottom line or investment benefit; referral from a trusted professional advisor
Professional services – seek knowledge or expertise from the Community Foundation

”I recognized I had the financial opportunity to direct my money to causes I care about rather than be taxed on my gains.”

If you have had similar thoughts or see opportunities to focus you and your family’s philanthropy, please contact the Indian River Community Foundation. We can help you do everything from organizing and automating your charitable giving to creating a giving plan that can last for years to come.