Advisors frequently comment that they’re surprised to discover the many ways the Community Foundation can help their clients, especially compared with national donor-advised fund programs affiliated with brokerage houses or financial services firms. Here are three examples of the types of comments community foundations have heard over the years from attorneys, accountants, and financial advisors:
“I didn’t realize that the Community Foundation’s donor-advised fund offering was so much more than just an online account. My clients have loved getting to know other donors, accessing first-hand knowledge about what’s going on in the community and how their favorite charities are making a difference, and being able to involve their children in philanthropic events and activities.”
“By partnering with the Community Foundation, we utilize our expertise to focus on investing our clients’ assets, and the staff at the Foundation provides clients with their expertise in the philanthropic arena. We consider the Community Foundation a key partner in our team approach to serving our clients.”
“I’m amazed at the variety of funds the Community Foundation can administer. Many of my clients have established donor-advised funds and have also augmented their philanthropic planning with a specialized fund such as a scholarship fund, designated fund, or field-of-interest fund. A big bonus for my retirement-age clients is that the IRS allows the community foundation to receive a Qualified Charitable Distribution from a client’s IRA and place it into one of these specialized funds.”
“My clients who sit on boards of directors of start-up charities have been so happy that grants from donor-advised funds–their own and others’–count toward the IRS’s public support test. That’s really helped new organizations in our community get off the ground.”