By Roger D. Silk
The insider's advisor to charitable enterprises for donors and their advisors
Do you recognize whilst to exploit a personal origin, a donor-advised fund, or a charitable the rest belief or different charitable automobile? have you learnt the various tax merits, obstacles, and regulate ideas for every substitute? Do you could have a suitable funding coverage on your endowed charities? Do you will have a rubric for fending off fraud? have you learnt what to seem for to ensure that your charitable donations do not do the other of what you plan?
In Managing Foundations and Charitable Trusts, Roger D. Silk and James W. Lintott offer a finished consultant for charitable donors and their advisers. extra issues include:
- Foundation Governance
- When to hunt extra expert help
- When and the way to show a CRT curiosity into cash
- Key tax issues
- Creating a legacy
- Why tax making plans is so tricky, and the way to method it
Straightforward and authoritative, Managing Foundations and Charitable Trusts is a convenient, easy-to-read advisor that each one donors and their advisors should want to stick with it hand.
Q&A with the Authors
because the first variation of Creating a personal Foundation released in 2003, how has the basis and charitable belief replaced and advanced?
The previous decade has been a tough one in numerous very important methods. The funding atmosphere has been very not easy, making funding coverage and money administration much more vital than in a few past sessions. Fraud has hit many charities and foundations, a few with devastating outcomes, reinforcing with a sledge-hammer the significance of due diligence. the concept that of accidental outcomes has been proven to use to charitable giving, inflicting many donors for the 1st time to think about that their giving may well do damage if now not rigorously thought of. Donor-advised money have grown in significance, and the rules surrounding them have grown besides. eventually, one of many largest adjustments is the improvement of a marketplace for source of revenue pursuits in Charitable the rest Trusts. while formerly CRT donors have been pretty well caught with such source of revenue pursuits for all times, there's now liquidity, which means that if a CRT donor's scenario adjustments, he can flip his source of revenue flow right into a lump sum of money.
What will donors and advisors achieve from interpreting this new version?
during this publication we handle the affects of all of the above alterations, between others. Many advisors let us know that they have got no longer noticeable those matters handled somewhere else, or no longer as usefully.
What is the largest or most crucial takeaway that you just wish readers stroll away with after completing the publication?
the dimensions of the charitable area maintains to develop, and in addition to that possibilities and complexity additionally develop. we are hoping that our readers will remove a greater knowing of what to do, what to not do, and whilst to name in specialist support.
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Extra resources for Managing Foundations and Charitable Trusts: Essential Knowledge, Tools, and Techniques for Donors and Advisors
There are several advantages to the corporate form for a foundation: limited liability for ofﬁcers and directors, greater ﬂexibility (than a trust would have) to adapt the organization’s structure as circumstances change, and the ability to have perpetual life (still not available for trusts in most states). Another feature of the corporate form is that it permits changes in the foundation’s charitable goals. While some founders view this ﬂexibility as a negative, we have found that you can have the best of both worlds by using a corporate form but maintaining control by having the donor make restricted grants to the foundation.
However, experience also suggests that it may be possible to offer some useful guidelines about when it is likely to be worthwhile investing time and money in careful tax planning. The biggest and most important variable will be your income. As we’ve seen, the kind of tweaking around the edges that you can ﬁnd by carefully looking is likely to amount, at most, to a few percent. But the cost of that analysis is not zero. If you do it yourself, it will require a certain amount of expertise, and very probably software.
It may be high or low. The point is that good planning can capture a tremendous amount of resources for charity. Estate Taxes The decades-long debate in Washington over the estate tax continues. While there is concern from some in the philanthropic community that eliminating the estate tax would harm charitable giving, our analysis suggests that if the estate tax were lowered or eliminated, charitable giving would increase. The following analysis sheds some light on the importance of the estate tax for charitable giving.