DEFINE YOUR LEGACY THROUGH A PHILANTHROPIC GIFT
Your legacy is the impact made upon the community and the memory of your actions long after you’re gone. Charitable giving is one way to maximize that community impact. Having a well-structured philanthropic plan ensures your family legacy is passed onto future generations who benefit from your generosity and carry on your legacy. Creating the right charitable gifting strategy can be a complex process that requires sound financial planning and establishing infrastructure to avoid potential problems or conflicts in the future. There are also tax implications and other financial considerations associated with different types of giving.
The knowledgeable financial advisors of 1900 Wealth will help you navigate the entire process to create a plan that properly manages your philanthropic wishes and safeguards your wealth.
OUR CHARITABLE GIFTING SERVICES INCLUDE:
1900 Wealth’s Family Legacy Services are a customizable solution designed to maximize the impact of your charitable giving objectives.
FAMILY FOUNDATION GUIDANCE
A private family foundation can offer more control over the management and disbursement of your financial assets.
1900 Wealth offers education and guidance on foundation infrastructure to help you establish monetary objectives, define roles within the organization, and ensure clear lines of communication for all parties involved. A private family foundation must incorporate under state laws, meet annual giving requirements, and mandates regular meetings for board members. Advisors will work closely with your family to create governance boards and hire administrators to manage the foundation’s review of receiving, reviewing, and approving grant requests that are aligned with the foundation’s philanthropic goals.
FAMILY FOUNDATION OVERVIEW
● A PFF (Private Family Foundation) offers your family more control of charitable assets and disbursement
● For larger amounts of charitable assets, a Private Family Foundation can be less expensive to run than a Donor Advised Fund
● Most administrative support and important decisions are the responsibility of the foundation as a whole to ensure your family’s wishes are maintained
● Requires a corporation to be established under state law and separate tax filings
● Guidance is suggested to oversee tax compliance and corporate policies like annual board meetings and accounting to ensure charitable minimums are met
DONER ADVISED FUND(DAF)
A Donor Advised Fund (DAF) is a personal investment account created solely for the purpose of gifting to non-profit organizations and charities that matter to you. Instead of sending multiple donations to different charities, you can make a single contribution into one Donor Advised Fund. Your financial contribution can be made in the form of cash, securities, real estate, or other assets and are entirely tax deductible. In addition to the tax advantages and greater impact of your financial gift, a DAF offers you more flexibility as there are no annual distribution requirements. 1900 Wealth’s investment advisors will invest and manage the assets of your Donor Advised Fund. We will review various philanthropic opportunities based on your charitable interests, risk tolerance, and available assets.
Donor-Advised Fund OVERVIEW
● Easy to set-up, administer, and use
● Most administrative and support functions are outsourced to a public charity of your choosing, including disbursement of funds and tax filings
● A family appointed fund advisor implements the family’s charitable giving objectives and charges a fee based on the amount and type of charitable assets given