|
|
 |
|
| Philanthropy |
Three Vehicles for a Vision
Jay Steenhuysen
12/01/2003
|
 Financial advisers cite the full exploitation of tax advantages of their giving as one reason families are turning to more than one philanthropic vehicle. "Once clients have assured their lifestyle and provided enough for their families," says Kenneth J. Anderson, a founder and partner at Quintile Wealth Management in Los Angeles, "they want to give more money than their adjusted gross income will allow for a deduction. Increased giving requires additional vehicles to capture all the tax benefits. You need to consider all these vehicles to capture the full economic benefit of your giving."
But the underlying charitable activity itself and the amount of control we wish to exercise will be as important to our decisions as the tax and financial advantages. "Selecting which vehicle is not an effort to seek tax benefits, but it is important to be tax efficient," Anderson says. "Goals come first."
A private foundation differs from a supporting organization mainly at the board level. The board
of the Collins’ private foundation is comprised solely of family members, with the exception of the attorney. The board of their supporting organization includes community members and a longtime friend. The required involvement of non-family members is meant to broaden the range of ideas that will drive the progress of Learning Tree Farms.
|
|
|
|
|
|
|
