Foundation Source Webinar to Examine Choices between Private Foundations and Donor-advised Funds

Date:

Categories: Press Releases

Foundation Source Webinar to Examine Choices between Private Foundations and Donor-advised Funds

Open forum will review the merits of different frameworks for attorneys, wealth advisors and family donors interested in assessing the best charitable vehicle.

Foundation Source, the nation’s leading provider of support services for private foundations, will hold a series of webinars on December 1 and December 3, 2009 to explore questions about the relative merits and benefits of different types of charitable vehicles. Donors, advisors, attorneys and others considering whether to avail themselves of donor advised funds, establish a private foundation or use a combination of charitable vehicles to meet their philanthropic goals, are invited to participate.

The webinars, to be led by Foundation Source President Andy Bangser and Foundation Source Chief Philanthropic Officer Page Snow, will take place at 1 pm Eastern Time on December 1 and December 3, 2009.  Participants must register in advance by contacting Christine Nero at cnero@foundationsource.com.

The webinars follow an enthusiastic response to the recent article “Helping Donors Choose Between Donor-advised Funds and Family Foundations,” published by Foundation Source, as well as a recent article in the Wall Street Journal claiming that many private foundations are converting to donor-advised funds.

Foundation Source President Andy Bangser commented, “There is some confusion out there about when a private foundation or a donor-advised fund is preferable, as well as misinformation about what these choices actually cost. We hope to clear up the misunderstandings.”

“Technology has dramatically changed the way that charitable giving is conducted” added Bangser. “No matter the size and scope of giving, the 21st Century philanthropist has a wide array of choices for achieving his or her charitable goals with less cost and greater efficiency. For some, participating in pre-existing donor-advised funds is the way to go. For others, establishing a private foundation, which can be just as easy to create and operate as a donor advised fund, is preferred. In some cases a combination of the two is ideal. We will discuss all the options.”

The webinar will explore questions that advisors and clients can ask to help make better philanthropic choices, including:

  • What is the true cost of establishing a private foundation compared to a donor-advised fund?
  • Does the donor wish to involve his/her children or other family members in their giving?
  • Over how many generations does the donor want his/her philanthropic legacy to endure?
  • How important is control over investment and grant decisions?
  • Does the donor intend to reimburse expenses and/or hire family members as staff in support of the mission?
  • How important is it for the donor to remain completely anonymous in his/her giving?
  • Will the donor want to go beyond traditional “gifting” to other forms of support: loans, international giving, scholarships, awards, emergency assistance?

Page Snow, Foundation Source’s chief philanthropic officer said, “We manage private foundations for nearly 900 clients. Many of them also use donor-advised funds in conjunction with their foundation, so we understand the circumstances for selecting both vehicles. Our clients have selected private foundations as their primary charitable vehicle because it offers them the highest level of independence and control. We also want to underscore the tremendous cost efficiencies and ease of use that are possible for private foundations today. There is a new way of doing things–we call it the 21st Century Foundation–and people want to know more about it.”

About Foundation Source (www.foundationsource.com) Foundation Source is the nation’s leading provider of support services for private foundations. The company’s back-office, online and support services ease the burden, freeing foundations to focus more on mission, strategy and family priorities and less on back-office administration and compliance tasks. The result: better run foundations with greater social impact.

Foundation Source was recently named Philanthropic Group of the Year by the editors of Private Asset Management.

Foundation Source provides its full range of award-winning services to nearly 900 private foundations coast-to-coast representing $4 billion in foundation assets. Foundation Source provides its services through partnerships with the nation’s leading private wealth management firms, trust and estate attorneys and CPAs.

The company is headquartered in Fairfield, CT with regional offices in Atlanta, Boston, Chicago, Denver, New York City, Philadelphia, Salt Lake City, San Francisco and Seattle.